(1) Every public utility shall notify the secretary of the Arkansas Public Service Commission in writing of its intention to file an application for a general change or modification in its rates and charges at least sixty (60) days but no earlier than ninety (90) days before the application is filed.
(2) Failure to provide such notice or failure to comply with its terms shall be grounds for denial of the application. Such grounds may be waived by the Arkansas Public Service Commission when the public interest permits.