Prior Rate definition
Examples of Prior Rate in a sentence
Starting with the 2022 Rate Year, the difference between the Prior Rate Year Rate Revenue Requirement and the total amount of the Company’s ▇▇▇▇▇▇▇▇ to all Town customers during the Prior Rate Year.
For example, in the application for rates effective January 1, 2021 the Rate Year refers to the period from January 1, 2021 to December 31, 2021, the Current Rate Year refers to the period from January 1, 2020 to December 31, 2020 and the Prior Rate Year refers to the period from January 1, 2019 to December 31, 2019.
That amount shall be divided by the number of all tons of Recyclable Materials processed at the Marin Recycling Center from July 1 of the Prior Rate Year through June 30 of the Current Rate Year.
The Base Year application shall be based on: the Company’s actual financial results of operations for the Prior Rate Year; audited financial statements for the Prior Rate Year; year-to-date financial results of operations for the Current Rate Year; and Company's forecasted costs for the next Rate Year.
Notwithstanding the rates set forth in Exhibit A to this Agreement, if a Customer's Prior Rate is lower than the applicable rate set forth in Exhibit A, as adjusted from time to time pursuant to this Section 5.1, that Customer shall not be charged more than its Prior Rate for the first twelve months of Commercial Services received under this contract.
Notwithstanding the rates set forth in Exhibit A to this Agreement, if a Customer's Prior Rate is lower than the applicable rate set forth in Exhibit A, as adjusted from time to time pursuant to this Section 5.1, that Customer shall not be charged more than its Prior Rate for the first twelve (12) months of Commercial Services received under this contract.
CLASSIFICATION Prior Rate Effective day after Ratification 0.5% Effecive Jan.
Disclosure No. 3 - Prior Rate Case Adjustments - Unsupponed Plant.