(a) The cooperative shall provide to each affected customer or party, including a municipality, at least two notices of the proposed action by bill insert or by individual notice.
(b) The cooperative shall provide:
(1) the first notice not later than the 61st day before the effective date of the proposed action; and
(2) the last notice not later than the 31st day before the effective date of the proposed action.

(c) A notice prescribed by this section must include:
(1) a description of the services affected by the proposed action;
(2) the effective date of the proposed action;
(3) an explanation of the customer’s right to:
(A) obtain a copy of the proposed tariff from the cooperative; and
(B) petition the commission for a review under Section 53.358;
(4) a statement of the amount by which the cooperative’s total gross annual revenues will increase or decrease and a statement explaining the effect on the cooperative revenues as a result of the proposed action; and
(5) a list of rates that are affected by the proposed rate action, showing the effect of the proposed action on each of those rates.