Rates to be just and reasonable

(1) Every rate made, demanded or received by any public utility provider shall be fair and reasonable and in any case shall be in conformity with and shall use the rate setting methodologies specified in any Regulations, By-laws, Orders, directions or other subsidiary legislation or administrative orders made under the Electricity Act, Cap. 221, the Telecommunications Act, Cap.229 or the Water and Sewerage Act, Cap. 222, as the case may be, or any licence authorising the provision of such services. (2) Subsection (1) of this section, shall mutatis mutandis apply where the Minister makes an Order declaring any person or company to be a public utility provider.