Rate Setting
/ˈreɪt ˌsɛtɪŋ/
Definitions
- (n.) The process by which a regulatory authority determines prices, fees, or rates charged by utilities or service providers.
The commission held a hearing on the rate setting for the new water utility.
- (n.) A procedural mechanism in administrative law to establish legally binding tariffs or charges.
Rate setting ensures that transportation companies do not overcharge consumers under public regulation.
Forms
- rate setting
Related terms
See also
Commentary
Rate setting typically requires balancing stakeholder interests and often involves hearings or evidentiary procedures to determine fair rates under applicable statutes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.