Tex. Utilities Code § 53.110
This is the official text of Tex. Utilities Code § 53.110, part of Texas’s Utilities Code — regulates utility companies.
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§ 53.110. BONDED RATES.
Official statutory text
(a) A utility may put a changed rate into effect by filing a bond with the commission if:
(1) the 150-day suspension period has been extended under Section 53.108(b); and
(2) the commission fails to make a final determination before the 151st day after the date the rate change would otherwise be effective.
(b) The bonded rate may not exceed the proposed rate.
(c) The bond must be:
(1) payable to the commission in an amount, in a form, and with a surety approved by the commission; and
(2) conditioned on refund.
(d) The 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 commission.
(1) the 150-day suspension period has been extended under Section 53.108(b); and
(2) the commission fails to make a final determination before the 151st day after the date the rate change would otherwise be effective.
(b) The bonded rate may not exceed the proposed rate.
(c) The bond must be:
(1) payable to the commission in an amount, in a form, and with a surety approved by the commission; and
(2) conditioned on refund.
(d) The 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 commission.
Status: in_force · Read it on the official government site
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