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  1. (a) The Arkansas Public Service Commission shall hold a hearing, unless waived by the parties, on an application filed under § 23-18-511.

  2. (b) A record shall be made of the hearing and of all testimony taken and the cross-examination thereon.

  3. (c) Rules of the commission shall apply to the proceeding.

  4. (d) The commission may provide for the consolidation of the representation of parties having similar interests.