New Hampshire Revised Statutes 362-C:7 – Rate Plan for the New Hampshire Electric Cooperative, Inc
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Terms Used In New Hampshire Revised Statutes 362-C:7
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- commission: as used in this title , means the public utilities commission. See New Hampshire Revised Statutes 362:1
- Escrow: Money given to a third party to be held for payment until certain conditions are met.
- following: when used by way of reference to any section of these laws, shall mean the section next preceding or following that in which such reference is made, unless some other is expressly designated. See New Hampshire Revised Statutes 21:13
Notwithstanding any other provision of law, the commission shall establish a 5.5 percent temporary rate surcharge to be made effective on January 1, 1990, for the retail electric rates of the New Hampshire Electric Cooperative, Inc., to be held in escrow in the manner provided in N.H. Rev. Stat. § 362-C:4. The commission is further authorized to approve a rate plan proposed by the New Hampshire Electric Cooperative Inc., provided that it finds such a rate plan to be consistent with the public good and that it results in no greater costs and risks to members of the cooperative than those resulting for ratepayers of Public Service Company of New Hampshire under the agreement. If the commission approves such a rate plan and fixes permanent rates under such plan, the revenues collected under the temporary rate surcharge shall be paid over to the New Hampshire Electric Cooperative, Inc. If no such rate plan is approved within 90 days following the date on which a bankruptcy rate plan for Public Service Company of New Hampshire becomes effective, the temporary rate surcharge shall terminate and the revenues collected under such surcharge shall be refunded to customers. An order of the commission approving a rate plan under this section shall have the same finality as that provided in N.H. Rev. Stat. § 362-C:6 for approval orders relating to Public Service Company of New Hampshire.