This section applies to a person that is a successor to an electric company, whether through: a reorganization, bankruptcy, or other insolvency proceeding; a merger or acquisition, sale, or other business combination; or a transfer by operation of law. A successor to an electric company shall perform and satisfy all obligations of, and have the same rights under a qualified rate order as, the electric company under the qualified rate order in the same manner and to the same extent as the electric company, including: collecting the revenues, collections, payments, or proceeds of the rate stabilization property; and paying them to the person entitled to receive them.