PUBLIC Law Chapter 45

alternative rate plan or renewal of any existing alternative rate

plan, the commission shall, in order to ensure that rates at the

starting point of the plan are just and reasonable, conduct a

revenue requirement and earnings review pursuant to the standards

of section 301.__In conducting such a review under this subsection,

the commission, at its discretion, may conduct the review in a

manner designed to minimize the cost of the review to ratepayers.

6. Amendment to multiyear rate plans. The commission may not
amend or prematurely terminate the terms of a multiyear rate plan
in a manner that prevents or threatens the utility's opportunity
to recover a reasonable rate of return over the entire term of
the plan. The commission shall ensure compliance with the
requirements of this subsection in the revenue requirement
proceeding and earnings review required by subsection 3.

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