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books of account shall contain an account designated as <br /> "Reserve for Depreciation and Amortization of Utility <br /> Plant" , or similar caption, which shall show <br /> accumulated charges to operating expenses on account of <br /> depreciation adjusted for salvage and retirements in <br /> accordance with Subd. 2 of this section. The annual <br /> charges to operating expenses for depreciation of depreciable <br /> property used and useful in rendering electric service in <br /> the Metro Area shall be an amount designed to recover <br /> ratably the original cost of such depreciable property <br /> over the estimated average service life of each group of <br /> property. Annual depreciation rates shall be revised <br /> periodically so as to reflect all factors bearing on the <br /> recovery of the original cost of such depreciable property <br /> over its estimated average service life. At least once <br /> every five years the Company shall prepare a depreciation <br /> study analyzing retirement experience and other factors <br /> relevant to the establishment of depreciation rates. Such <br /> study shall be used as a guide in determining the depreciation <br /> rates to be used to recover the original cost of depreciable <br /> property. <br /> Subd. 2. The actual original cost of property <br /> abandoned, otherwise retired from service or not used and <br /> useful in the public service for any cause, shall be <br /> credited to the appropriate plant account. Such original <br /> 23 <br />