6. Reasonable return. The alternative form of regulation must ensure that the telephone utility has, over the period of the alternative form of regulation, a reasonable opportunity to earn a fair return on the investment necessary to provide local telephone services. The commission shall ensure compliance with the requirements of this subsection in the revenue requirement proceeding and earnings review required by subsection 5.

SUMMARY

This bill requires the Public Utilities Commission to conduct a rate case ensuring the justness of rates before authorizing or reauthorizing a price cap plan.