[§269-27.1]  Establishment of geothermalenergy rates.  (a)  The rate payable by a public utility to the producer ofgeothermal steam or electricity generated from geothermal steam shall beestablished by agreement between the public utility and the supplier, subjectto approval by the public utilities commission; provided that if the publicutility and the supplier fail to reach an agreement for such rate, or if theagreed upon rate is disapproved by the commission, the public utilitiescommission shall establish a just and reasonable rate for the geothermal steamor electricity generated from geothermal steam supplied to the public utilityby the producer.

(b)  The producer of geothermal steam orelectricity generated from geothermal steam shall be excluded from coverage ofthe term "public utility" as defined in section 269-1. [L 1978, c132, §2]