In adopting regulations pursuant to this title relating to the provision of electric service, the Commission shall ensure that the regulations:
1. Protect, further and serve the public interest;
2. Provide effective protection for customers who depend upon electric service;
3. Provide for stability in rates and for the availability and reliability of electric service;
4. Encourage the development and use of renewable energy resources; and
5. Require providers of electric service to engage in prudent business management, effective long-term planning, responsible decision making, sound fiscal strategies and efficient operations.