A public utility may file annual rate adjustments to be applied to customer bills paid under the tariff approved pursuant to § 49-34A-25.2. In the utility's filing, the public utility shall provide:
(1) A description of and context for the facilities included for recovery;
(2) A schedule for implementation of applicable projects;
(3) The public utility's costs for these projects;
(4) A description of the public utility's efforts to ensure the lowest reasonable costs to ratepayers for the project; and
(5) Calculations to establish that the rate adjustment is consistent with the terms of the tariff established in § 49-34A-25.2.