[§269-27.1]  Establishment of geothermal
energy rates.  (a)  The rate payable by a public utility to the producer of
geothermal steam or electricity generated from geothermal steam shall be
established by agreement between the public utility and the supplier, subject
to approval by the public utilities commission; provided that if the public
utility and the supplier fail to reach an agreement for such rate, or if the
agreed upon rate is disapproved by the commission, the public utilities
commission shall establish a just and reasonable rate for the geothermal steam
or electricity generated from geothermal steam supplied to the public utility
by the producer.



(b)  The producer of geothermal steam or
electricity generated from geothermal steam shall be excluded from coverage of
the term "public utility" as defined in section 269-1. [L 1978, c
132, §2]