Full Tariff Review

(1) During a Full Tariff Review Proceeding, the Business Plan shall be reviewed, amended (if necessary), and approved by the PUC who shall determine the applicable Tariffs for the non-five-year tariff period (the Full Tariff Period). (2) During the first Full Tariff Review Proceeding, the PUC shall approve the first Business Plan and determine the Tariffs for the first Full Tariff Period. (3) Subsequent Full Tariff Periods shall commence and terminate, respectively, on the fifth anniversary of the Water Industry 143 commencement and termination of the previous Full Tariff Period. (4) In determining the tariffs for any Full Tariff Period, the PUC shall take into account notified items and the performance standards of the licensee.