All grants, renewals, extensions, or amendments of public utility franchises, whether so provided in the ordinance or not, shall be subject to the right of the city:
   (1)   To repeal the same by ordinance at any time for misuse or nonuse, or for failure to begin construction within the time prescribed or otherwise to comply with the terms prescribed.
   (2)   To require proper and adequate extension of plant and service, and the maintenance of the plant and fixtures at the highest practical standard of efficiency.
   (3)   To establish reasonable standards of service and quality of service and quality of products and prevent unjust discrimination in service or rates.
   (4)   To prescribe the form of accounts and at any time to examine and audit the accounts and other records of any such utility and to require annual and other reports by each such public utility; provided, that if a public service commission or other authority shall be given the power by law to prescribe the forms of accounts for public utilities throughout the state or throughout any district of which the city is a part, the forms so prescribed shall be controlling so far as they go, but the City Council may prescribe other and more detailed forms for the utilities within its jurisdiction.
   (5)   To impose such other regulations as may be conducive to the safety, welfare, and accommodation of the public.