364.14  Readjustment of rates, charges, tolls, or rentals; order or rule compelling facilities to be installed, etc.--

(1)  Whenever the commission finds, upon its own motion or upon complaint, that:

(a)  The rates, charges, tolls, or rentals demanded, exacted, charged, or collected by any telecommunications company for services subject to s. 364.03, or the rules, regulations, or practices of any telecommunications company affecting such rates, charges, tolls, rentals, or service, are unjust, unreasonable, unjustly discriminatory, unduly preferential, or in anywise in violation of law;

(b)  Such rates, charges, tolls, or rentals are either insufficient to yield reasonable compensation for the service rendered; or

(c)  Such rates, charges, tolls, or rentals yield excessive compensation for the service rendered,

the commission shall determine the just and reasonable rates, charges, tolls, or rentals to be thereafter observed and in force and fix the same by order. In prescribing rates, the commission shall allow a fair and reasonable return on the telecommunications company's honest and prudent investment in property used and useful in the public service.

(2)  Whenever the commission finds that the rules, regulations, or practices of any telecommunications company are unjust or unreasonable, or that the equipment, facilities, or service of any telecommunications company are inadequate, inefficient, improper, or insufficient, the commission shall determine the just, reasonable, proper, adequate, and efficient rules, regulations, practices, equipment, facilities, and service to be thereafter installed, observed, and used and shall fix the same by order or rule.