Procedure for Adjusting Rates for Exogenous Event Sample Clauses

Procedure for Adjusting Rates for Exogenous Event. If either of the Exogenous Events described above occur during the Rate-Freeze Period, the Company shall file for adjustments no later than August 1 of each year, based on financial results for the 12- month period ending June 30 of each year. If the Company has not made a filing, the Division (or other Settling Parties) has the right to make a filing on its own to open a proceeding if the Division (or other Settling Parties) believe an Exogenous Event has occurred. Any adjustments shall be subject to review by the Commission, and after public hearing and approval by the Commission, shall be implemented for usage on and after November 1 (unless suspended by the Commission) and shall be collected through the DAC. In any proceeding under this subsection, the Settling Party claiming that there should be a rate modification resulting from the occurrence of an Exogenous Event shall carry the burden of proving the occurrence and the cost impact. The Company will file a certification with the Commission by August 1 of each year during the Rate-Freeze Period, with copies to the Settling Parties, certifying that, to the best of the Company’s knowledge and belief, there have been no occurrences of Exogenous Events, except as identified in the certification.
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