Bonded Rates

Sec. 104.109. BONDED RATES. (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. Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.