There is a newer version of the Maryland Code
Maryland Public Utility Companies Section 4-101
§ 4-101.
  In this title, "just and reasonable rate" means a rate that:
    (1)   does not violate any provision of this article;
    (2)   fully considers and is consistent with the public good; and
    (3)   except for rates of a common carrier, will result in an operating income to the public service company that yields, after reasonable deduction for depreciation and other necessary and proper expenses and reserves, a reasonable return on the fair value of the public service company's property used and useful in providing service to the public.
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