Texas Utilities Code 53.053 – Components of Invested Capital
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(a) Public utility rates shall be based on the original cost, less depreciation, of property used by and useful to the utility in providing service.
(b) The original cost of property shall be determined at the time the property is dedicated to public use, whether by the utility that is the present owner or by a predecessor.
Terms Used In Texas Utilities Code 53.053
- Property: means real and personal property. See Texas Government Code 311.005
(c) In this section, “original cost” means the actual money cost or the actual money value of consideration paid other than money.