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e e D. HL&P agrees that commencing wim the fll"st billing cycle for the month following me date of the Commission order approving deferred billing, HL&P will. temporarily defer billing a ponion of the base rates that it is otherwise authorized to charge during such period. Specifically, HL&P's current effective Docket No. 9850 base rates adjusted for the PeRF and the HB-ll Factor ("Pre-Settlement Rates") will remain the lawful, effective rates approved by me Commission. HL&P will be authorized, however, to bill each customer using the base rates contained in Appendix 0 ("Appendix 0 Base Rates"). Each month, HL&P will maintain a monthly record of the difference between the revenues billed on the basis of the AppendiX 0 Base Rates and the revenues that would have been billed at the Pre-Settlement Rates as if that differeuce were an under-recovery amount pursuant to PUC Substantive Rule 23.23(b)(3)(C). The deferred amounts shall accrue interest at the rate of six percent (6 %) compounded annuaHy. Although deferred billing amounts will be treated as if they were an under-recovery amount pursuant to Substantive Rule 23.23(b)(3)(C), such amounts shan be maintained in accounts separate from fuel over and under collections. The deferred billings will be contingent upon issuance of a 12065 Final Order consistent in all material respects with the terms of this Agreement. If the 12065 Final Order is consistent in all material respects with the tenns of this Agreement, the deferred balance accumulated during the period the deferred billings were in effect will be canceled. If, however, the Commission does not issue a fmal order consistent with the tenns of this Agreement and, as a result, HL&P withdraws from this Agreement pursuant to Article XX, HL&P shaH have the right to stop deferred billings and to recover the deferred balance (including accwnulated interest) HOUOJ:9l1046 -11-