It is hereby declared to be the purpose and policy of the Legislature in enacting this chapter:
1. To confer upon the Commission the power, and to make it the duty of the Commission, to regulate public utilities to the extent of its jurisdiction;
2. To provide for fair and impartial regulation of public utilities;
3. To provide for the safe, economic, efficient, prudent and reliable operation and service of public utilities;
4. To balance the interests of customers and shareholders of public utilities by providing public utilities with the opportunity to earn a fair return on their investments while providing customers with just and reasonable rates; and
5. With regard to telecommunication service:
(a) To regulate competitive suppliers in a manner that allows customers to benefit from full competition regarding rates and services;
(b) To provide for basic network service to economically disadvantaged persons who are eligible for a reduction in rates for telephone service pursuant to NRS 707.400 to 707.500, inclusive; and
(c) To maintain the availability of telephone service to rural, insular and high-cost areas through:
(1) The levy and collection of a uniform and equitable assessment from all persons furnishing intrastate telecommunication service or the functional equivalent of such service through any form of telephony technology; and
(2) Payments to telecommunication providers from the fund to maintain the availability of telephone service.