(1) A qualified utility shall recover in rates all prudently incurred investments and expenditures, including the costs of capital, made to implement an approved wildland fire protection plan.
(2) A qualified utility shall file an annual report to the commission identifying the actual capital investments and expenses made in the prior calendar year and a forecast of the capital investments and expenses for the present year to implement a wildland fire protection plan approved by the commission under Section 54-24-201.
(3) The commission shall authorize the deferral and collection of the incremental revenue requirement for the capital investments and expenses:
(a) to implement an approved wildland fire protection plan; and
(b) not included in base rates.