‘ 5. Rescission. The commission shall establish by rule a process by which:
A. Customers of a consumer-owned water utility may petition the commission to rescind an exemption granted under this section to an individual consumer-owned water utility or to a class of consumer-owned water utilities; and
B. The commission may on its own motion rescind an exemption granted under this section to an individual consumer-owned water utility or to a class of consumer-owned water utilities.
A rescission may be in whole or in part and may be specific to an individual consumer-owned water utility.’