In establishing a public utility's rates, the commission 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 the utility's reasonable and necessary operating expenses.
Tex. Util. Code § 53.051
ESTABLISHING OVERALL REVENUES
Known as the Public Utility Regulatory Act
The act spans §§ 11–66 (1,170 sections).
Applied in 1 court decision — leading case Cities of Austin v. Southwestern Bell Telephone Co. (2002)
Most recently applied in Cities of Austin v. Southwestern Bell Telephone Co. (June 2002)
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.