In establishing a reasonable return on invested capital, the regulatory authority shall consider applicable factors, including:

1. (1) the efforts and achievements of the utility in conserving resources;
2. (2) the quality of the utility's services;
3. (3) the efficiency of the utility's operations; and
4. (4) the quality of the utility's management.

Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.

Amended by Acts 1999, 76th Leg., ch. 405, Sec. 24, eff. Sept. 1, 1999.