Section 39-1-21-101 - Rate Base ConsiderationsIn arriving at such a rate base, the Commission shall give due consideration to:
1. The reasonable original costs of the property used and useful, or to be used and useful within a reasonable time after the test period;2. The portion of the cost which has been consumed by previous use recovered by depreciation expense;3. The allowance for funds used during construction, not to exceed on borrowed funds the true net interest cost of such funds, computed according to the actuarial method, and, on the equity component thereof, a rate of return granted on common equity in the last rate proceeding of the subject utility before the Commission, or if such rate has not been established within the preceding thee (3) years, then the average rate of return actually earned on equity during the preceding three (3) years. In connection with such calculations, compliance with the rules of any federal agency having jurisdiction over the subject utility may be deemed sufficient compliance with this rule;4. Any other items proposed by the utility in a rate case; and5. Other elements which are deemed by the Commission to be material in determining the rate base for ratemaking purposes.39 Miss. Code. R. 1-21-101