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<br />. <br /> <br />e <br /> <br />ARTICLE V. <br />Calculation of AFUDC <br />For purposes of computing the allowance for funds used during construction rate <br />during the period from January I, 1995 through the date HL&P's base rates are superseded by <br />new systemwide base rates made effective under PURA Section 43 or 42, HL&P shall use a return <br /> <br />on equity of 11.55 % . <br /> <br />ARTICLE VI. <br /> <br />Rate C~ Period <br /> <br /> <br />A. HL&P shall not file to increase the base rates set out in Appendix 0 during <br /> <br /> <br />the Rate Cap Period unless one or more of the following events occur: <br /> <br /> <br />1. New laws or regulations are adopted by legislative or regulatory bodies and <br /> <br /> <br />as a result of those laws or regulations HL&P's actual revenues <br /> <br /> <br />(determined on an accrual basis) will be reduced by more than $60 million <br /> <br /> <br />on an annual basis. To the extent that such new laws or regulations would <br /> <br /> <br />cause some revemes to decrease while other revenues increase, regardless <br /> <br /> <br />of whether the increase in revenues is due to customers taking advantage <br /> <br /> <br />of a service that was legal or in existence prior to the new laws or <br /> <br /> <br />regula~ons taking effect, a rate increase filing would be permitted only if <br /> <br />the net reduction exceeds $60 million; <br /> <br />2. New laws or regulations are adopted by legislative or regulatory bodies and <br /> <br />as a result of those laws or regulations HL&P's actual cost of service <br /> <br />HOU03:98046 <br /> <br />-14- <br />