During the pendency of its rate proceeding, a utility seeking to implement rates under bond pursuant to PURA, §2.212(e) or §3.211(e), shall file an original and ten copies of its application for approval of bond at least two weeks prior to the date the bonded rates are to be effective. The application shall conform to the requirements of Subchapter E of this chapter (relating to Pleadings). The bond shall be in an amount equal to or greater than one-sixth of the annual difference between the utility's current rates and the bonded rates. The bond must be approved by the secretary as to sufficiency based on the commission staff's review of the utility's application. Any decision by the secretary either approving or disapproving a bond is appealable to the commission pursuant to §22.123 of this title (relating to Appeal of an Interim Order).

Source Note:The provisions of this §22.126 adopted to be effective November 1, 1993, 18 TexReg 6641; amended to be effective September 8, 1995, 20 TexReg 6627.