PUBLIC UTILITIES - MUNICIPAL CORPORATIONS - POWER OF MUNICIPAL CORPORATIONS TO REGULATE PUBLIC UTILITY RATES - FINALITY OF SUCH REGULATION

Since the decision in the case of Munn v. Illinois it has been settled that where property is devoted to a public use and is charged with a public interest, the state may prescribe reasonable rates for such public service. However, the question then arises as to the manner in which the state may prescribe these rates, through what agencies it may act, and the effect on the total picture of rate regulation within a state after there has been action by one of the proper agencies. The answers to these questions depend to a large extent upon the particular statutes in any one state. The extent of this comment is not to offer a compilation of statutes, but rather to present a few illustrative situations, centering for the most part about the actions of municipal corporations in this field.