CAMERON, Justice.
We granted a petition for review of a decision and opinion of the Court of Appeals, Division One, for the purpose of reexamining the standard and scope of judicial review of rate decisions by the Arizona Corporation Commission. We have jurisdiction pursuant to A.R.S. § 12-120.24 and Rule 23, Arizona Rules of Civil Appellate Procedure, 17A A.R.S.
We must answer the following questions on review:
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