Whenever the Commission, pending an investigation had upon its own motion, orupon complaint, is of the opinion and so finds after an examination of anyreport or reports, annual or otherwise, filed with the Commission by anypublic utility, together with any other facts or information which theCommission may acquire or receive from an investigation of the books,records, or papers, or from an inspection of the property of such publicutility, that the net income of such public utility, after reasonabledeductions for depreciation and other proper and necessary reserves, is inexcess of the amount required for a reasonable return upon the value of suchpublic utility's property, used and useful in rendering its service to thepublic, and if the Commission is of the opinion and so finds in such causethat a hearing to determine all of the issues involved in a finaldetermination of rates of service will require more than ninety days ofelapsed time, the Commission may, in case of such emergency, enter atemporary order, after not less than ten days' notice to such public utilityof its contemplated action and affording to it reasonable opportunity tointroduce evidence and to be heard thereon, fixing a temporary schedule ofrates, which order shall be forthwith binding upon such public utility. Butthe Commission's power to order reductions in rates and charges of any publicutility by means of such a temporary order, is limited to reductions whichwill absorb not more than the amount found by the Commission to be in excessof the amount of income, as determined by the Commission, necessary toprovide a reasonable return on the value of the property of such publicutility as found by the Commission as aforesaid.
Whenever the Commission, pending an investigation had upon its own motion, orupon complaint, is of the opinion and so finds after an examination of anyreport or reports, annual or otherwise, filed with the Commission by anypublic utility, together with any other facts or information which theCommission may acquire or receive from an investigation of the books,records, or papers, or from an inspection of the property of such publicutility, that the net income of such public utility, after reasonabledeductions for depreciation and other proper and necessary reserves, is inexcess of the amount required for a reasonable return upon the value of suchpublic utility's property, used and useful in rendering its service to thepublic, and if the Commission is of the opinion and so finds in such causethat a hearing to determine all of the issues involved in a finaldetermination of rates of service will require more than ninety days ofelapsed time, the Commission may, in case of such emergency, enter atemporary order, after not less than ten days' notice to such public utilityof its contemplated action and affording to it reasonable opportunity tointroduce evidence and to be heard thereon, fixing a temporary schedule ofrates, which order shall be forthwith binding upon such public utility. Butthe Commission's power to order reductions in rates and charges of any publicutility by means of such a temporary order, is limited to reductions whichwill absorb not more than the amount found by the Commission to be in excessof the amount of income, as determined by the Commission, necessary toprovide a reasonable return on the value of the property of such publicutility as found by the Commission as aforesaid.
Whenever the Commission, pending an investigation had upon its own motion, orupon complaint, is of the opinion and so finds after an examination of anyreport or reports, annual or otherwise, filed with the Commission by anypublic utility, together with any other facts or information which theCommission may acquire or receive from an investigation of the books,records, or papers, or from an inspection of the property of such publicutility, that the net income of such public utility, after reasonabledeductions for depreciation and other proper and necessary reserves, is inexcess of the amount required for a reasonable return upon the value of suchpublic utility's property, used and useful in rendering its service to thepublic, and if the Commission is of the opinion and so finds in such causethat a hearing to determine all of the issues involved in a finaldetermination of rates of service will require more than ninety days ofelapsed time, the Commission may, in case of such emergency, enter atemporary order, after not less than ten days' notice to such public utilityof its contemplated action and affording to it reasonable opportunity tointroduce evidence and to be heard thereon, fixing a temporary schedule ofrates, which order shall be forthwith binding upon such public utility. Butthe Commission's power to order reductions in rates and charges of any publicutility by means of such a temporary order, is limited to reductions whichwill absorb not more than the amount found by the Commission to be in excessof the amount of income, as determined by the Commission, necessary toprovide a reasonable return on the value of the property of such publicutility as found by the Commission as aforesaid.
