In planning telephone service, it shall be the responsibility of each utility to provide the type and quantities of facilities that will meet the expected communications service demands of the public in the most economical manner possible that is consistent with current and long range service standards and modernization objectives. In planning the modernization of a plant, the objective shall be to systematically replace and augment the older plant as rapidly as practical consistent with sound management judgment in meeting current customer service requirements and objectives. Public Utilities Article, §§2-118, 2-121, and 5-101, Annotated Code of Maryland Effective date: January 1, 1976 (Order No. 61496) Regulation .03 amended effective January 23, 1981 (8:2 Md. R. 117) Chapter revised effective March 18, 2013 (40:5 Md. R. 412)