General Rates Setting Policy Sample Clauses

General Rates Setting Policy. Rate Rebasing Determination The maximum rates chargeable by the Concessionaire for water and sewage services hereunder applicable to the period through the Second Rate Rebasing Date (subject to interim adjustment’s as described in this Article 9) are set out in Schedule 16 to this Agreement. It is the intention of the parties that, from and after the Second Rate Rebasing Date, the rates for water and sewerage services provided by the Concessionaire shall be set at level that will permit the Concessionaire to recover over the term of the Concession (net of any grants from third parties and any possible Expiration Payment) Expenditures efficiently and prudently incurred and to earn a reasonable rate of return (referred to herein as the “Appropriate Discount Rate”). The Expenditures are those connected with the provision of water and wastewater being provided by the Concessionaire. The parties further agree that the maximum rates chargeable for such water and sewerage services shall be subject to general adjustment at five-year (5-year) intervals commencing on the second Rate Rebasing Date; provided that the MWSS, with prior recommendation from the Regulatory Office may exercise its discretion to make a general adjustment of such rates on the First Rate Rebasing Date. The MWSS, with prior recommendation from the Regulatory Office shall determine the Rebasing Adjustment to be used for the purposes of calculating the Rates Adjustment Limit for each of the five (5) Charging Years of each Rebasing Period, in accordance with the provisions set forth below. The rate rebasing period provided herein shall be final. At the end of every rate rebasing period, the Concessionaire shall submit to the MWSS an accounting of assets which costs had already been recovered through tariffs and titles to such assets has been passed on to MWSS. For the avoidance of doubt, the Concessionaire shall be precluded from (a) claiming compensation for all capital and other expenditures which have been disallowed by the Regulatory Office or the latter’s successors and assigns; and (b) claiming compensation and/or receiving a return beyond the amounts in Section 12 of the Charter and/or through the ADR.
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