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<br />the date such rates were placed in effect by the Deputy Secretary, as <br />such date may have been adjusted by the Administrator. If the FERC <br />confirms and approves on a final basis rates submitted by the <br />Administrator without interim approval, such confirmation and approval <br />shall be effective on a date set by the FERC. <br /> <br />(c) If the FERC disapproves Provisional Rates or other submitted <br />rates, the Administrator shall develop Substitute Rates which take <br />into consideration the reasons given by the FERC for its <br />disapproval. If, in the Administrator's judgment, public comment <br />should be invited upon proposed Substitute Rates, the Administrator <br />may provide for a public consultation and comment period before <br />submitting the Substitute Rates. <br /> <br />Whether or not such public consultation and comment periods are <br />provided, the Administrator will, upon request, provide customers of <br />the power system and other interested persons with copies of the <br />principal documents used in the development of the Substitute Rates. <br />Within 120 days of the date of FERC disapproval of submitted rates, <br />including Substitute Rates, or such additional time periods as the <br />FERC may provide, the Administrator will submit the Substitute Rates <br />to the FERC. A statement explaining the Administrator's decision <br />shall accompany the submission. <br /> <br />(d) A Provisional Rate that is disapproved by the FERC shall <br />remain in effect, until higher or lower rates are confirmed and <br />approved by the FERC on a final basis or are superseded by other rates <br />placed into effect by the Deputy Secretary on an interim basis: <br />Provided, That if the Administrator does not file a Substitute Rate <br />within 120 days of the disapproval or such greater time as the FERC <br />may provide, and if the rate has been disapproved because the FERC <br />determined that it would result in total revenues in excess of those <br />required by law, the rate last previously confirmed and approved on a <br />final basis will become effective on a date and for a period <br />determined by the FERC and revenues collected in excess of such rate <br />during such period will be refunded in accordance with paragraph (g) <br />of this section. <br /> <br />(e) If a Substitute Rate confirmed and approved on a final basis <br />by the FERC is higher than the provisional rate which was disapproved, <br />the Substitute Rate shall become effective on a subsequent date set by <br />the FERC, unless a subsequent Provisional Rate even higher than the <br />Substitute Rate has been put into effect. FERC confirmation and <br />approval of the higher Substitute Rate shall constitute final <br />confirmation and approval of the lower disapproved Provisional Rate <br />during the interim period that it was in effect. <br /> <br />(f) If a Substitute Rate confirmed and approved by the FERC on a <br />final basis is lower than the disapproved provisional rate, such lower <br />rate shall be effective as of the date the higher disapproved rate was <br />placed in effect. <br /> <br />25 <br />