Section 359. Rates and fees

A  company shall, with the approval of the
  commissioner, fix maximum rates and fees to be charged persons served by
  each project for the facilities and services provided by the company  to
  such persons, the average of such rates and fees for any one project not
  to  exceed  the  maximum  average  rates  and  fees  determined  by  the
  commissioner before any commitments are made  by  the  company  for  the
  construction, acquisition, reconstruction, rehabilitation or improvement
  of   the  project.  The  commissioner  upon  his  own  motion,  or  upon
  application by the company or lienholder may vary  the  amount  of  such
  rates and fees from time to time so as to secure together with all other
  income  of  the  company,  sufficient  income to meet, within reasonable
  limits, all necessary payments by the  said  company  of  all  expenses,
  including fixed charges, sinking funds and reserves.