(1) The commission may, by rule or order, adopt any method of rate regulation that is: (a) consistent with this title; (b) in the public interest; and (c) just and reasonable. (2) In accordance with Subsection (1), a method of rate regulation may include: (a) rate designs utilizing: (i) volumetric rate components; (ii) demand rate components; (iii) fixed rate components; and (iv) variable rate components; (b) rate stabilization methods; (c) decoupling methods; (d) incentive-based mechanisms; and (e) other components, methods, or mechanisms approved by the commission.
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