What is a rate structure in utilities law?

A rate structure in utilities law is a set of rules which define how a utility, such as an electric or gas company, is able to charge customers for its services. The rate structure explains how the company will determine its prices for its services, such as electricity, natural gas, and other utilities. It also explains who pays and how much they will be charged. In Florida, the Public Service Commission (PSC) is responsible for overseeing utility companies, setting rates, and approving rate structure plans. The PSC has the authority to create rules that govern the rate structure, which includes a rate formula, the rates that will be charged for each type of service, and any incentives or discounts available to customers. For every type of service the utility company provides, the rate structure will state how much a customer will be charged for each unit of the service they use. For example, the rate structure may provide for a lower charge for certain types of energy consumption, or may provide a discount to customers who prefer to pay their bills in advance. The rate structure is designed to ensure that the utility company is able to charge fair prices that reflect the cost of providing their services. It is also designed to ensure that customers are able to access the services they need at an affordable rate.

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What is a rate structure in utilities law?

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