Tex. Utilities Code § 104.109
This is the official text of Tex. Utilities Code § 104.109, part of Texas’s Utilities Code — regulates utility companies.
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§ 104.109. BONDED RATES.
Official statutory text
(a) A gas utility may put a changed rate into effect by filing a bond with the regulatory authority if the regulatory authority fails to make a final determination within 90 days from the date the proposed increase would otherwise be effective.
(b) The bonded rate may not exceed the proposed rate.
(c) The bond must be:
(1) payable to the regulatory authority in an amount, in a form, and with a surety approved by the regulatory authority; and
(2) conditioned on refund.
(d) The gas utility shall refund or credit against future bills:
(1) money collected under the bonded rates in excess of the rate finally ordered; and
(2) interest on that money, at the current interest rate as determined by the regulatory authority.
(b) The bonded rate may not exceed the proposed rate.
(c) The bond must be:
(1) payable to the regulatory authority in an amount, in a form, and with a surety approved by the regulatory authority; and
(2) conditioned on refund.
(d) The gas utility shall refund or credit against future bills:
(1) money collected under the bonded rates in excess of the rate finally ordered; and
(2) interest on that money, at the current interest rate as determined by the regulatory authority.
Status: in_force · Read it on the official government site
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