1. (1) The commission may, by rule or order, adopt any method of rate regulation that is:

   1. (a) consistent with this title;
   2. (b) in the public interest; and
   3. (c) just and reasonable.

2. (2) In accordance with Subsection (1), a method of rate regulation may include:

   1. (a) rate designs utilizing:

      1. (i) volumetric rate components;
      2. (ii) demand rate components;
      3. (iii) fixed rate components; and
      4. (iv) variable rate components;
   2. (b) rate stabilization methods;
   3. (c) decoupling methods;
   4. (d) incentive-based mechanisms; and
   5. (e) other components, methods, or mechanisms approved by the commission.

Amended by Chapter 319, 2009 General Session