(a) For an alternative regulation plan to be approved by the commission under sections 237.76 to 237.774, the plan must contain an existing service quality plan or settlement for retail customers approved by the commission or if no such plan or settlement has been approved, the commission shall require:
(1) evidence that current service quality substantially complies with commission rules as to justify lessened rate regulation;
(2) a baseline measurement of the quality of service levels as achieved by the company during the previous three years, to the extent the data are available, and specific statewide standards for measuring the quality of price-regulated and flexibly priced services provided by the company, including, but not limited to (i) time intervals for installation, (ii) time intervals for restoration or repair of service, (iii) trouble rates, (iv) exchange access line held orders, and (v) customer service answer time;
(3) provisions for reporting to the commission at least annually the company's performance as to the quality of service standards by quarter for the previous year;
(4) provisions that index quality of service standards for local residence services to similar standards for local business services;
(5) appropriate remedies, including penalties and customer-specific adjustments or payments to compensate customers for specific quality of service failures, so as to ensure substantial compliance with the quality of service standards set forth in the plan; and
(6) provisions for informing customers of their rights as to quality of service and how customers can register their complaints regarding service.
(b) Any penalties under paragraph (a), clause (5), shall be returned to customers under a method set forth in the plan.
(c) The terms of an existing service quality plan or settlement approved by the commission must be offered to extend through the duration of an alternative regulation plan filed under this section.