In establishing a gas utility's rates, the regulatory authority shall establish the utility's overall revenues at an amount that will permit the utility a reasonable opportunity to earn a reasonable return on the utility's invested capital used and useful in providing service to the public in excess of its reasonable and necessary operating expenses.
Tex. Util. Code § 104.051
ESTABLISHING OVERALL REVENUES
Known as the Gas Utility Regulatory Act
The act spans §§ 101–105 (133 sections).
Applied in 2 court decisions — leading case Railroad Commission v. Texas Coast Utilities Coalition (2011)
Most recently applied in Amarillo, Channing, Dalhart and Lubbock v. Railroad Commission of Texas (May 2016)
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.