rate making

rate making
The process of determining a rate to be charged, particularly a rate subject to government control, as where it is for service by a public utility. A function which is purely legislative in its character, whether it is exercised directly by the legislature itself or by some subordinate or administrative body, to whom the power of fixing rates in detail has been delegated. Prentis v Southern R. Co. 211 US 210, 53 L Ed 150, 29 S Ct 67. See fair return.

Ballentine's law dictionary. . 1998.

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