Methodology

(1) The methodology for the calculation of the water and sewerage Tariffs shall be that of the Regulatory Model as amended by the PUC from time to time. (2) The PUC shall determine Tariffs for a Full Tariff Period in a Full Tariff Review Proceedings as described in Part III and based on– (a) a Business Plan submitted by the licensee and approved by the PUC; and (b) the Regulated Rate of Return in Schedule 1. Water Industry 139 (3) The Tariffs determined through the Regulatory Model may be adjusted between Full Tariff Review Periods during an Interim Review Proceeding as provided for in Part IV of these Byelaws. (4) Subject to these Byelaws, a licensee shall not charge a customer less than the applicable Tariffs determined in accordance with these Byelaws without the prior approval of the PUC provided on a case-by-case basis or for a general category of customers or in specified circumstances.