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| 5 | 5 | | 2023 -- H 5081 |
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| 7 | 7 | | LC000157 |
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| 8 | 8 | | ======== |
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| 9 | 9 | | S TATE OF RHODE IS LAND |
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| 10 | 10 | | IN GENERAL ASSEMBLY |
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| 11 | 11 | | JANUARY SESSION, A.D. 2023 |
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| 12 | 12 | | ____________ |
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| 13 | 13 | | |
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| 14 | 14 | | A N A C T |
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| 15 | 15 | | RELATING TO PUBLIC UTILITIES AND CARRIERS - REGULATORY POWERS OF |
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| 16 | 16 | | ADMINISTRATION |
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| 17 | 17 | | Introduced By: Representatives J Lombardi, Hull, and Felix |
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| 18 | 18 | | Date Introduced: January 12, 2023 |
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| 19 | 19 | | Referred To: House Corporations |
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| 20 | 20 | | |
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| 21 | 21 | | |
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| 22 | 22 | | It is enacted by the General Assembly as follows: |
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| 23 | 23 | | SECTION 1. Chapter 39-3 of the General Laws entitled "Regulatory Powers of 1 |
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| 24 | 24 | | Administration" is hereby amended by adding thereto the following section: 2 |
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| 25 | 25 | | 39-3-45. Electric rates tied to the consumer price index. 3 |
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| 26 | 26 | | (a) Notwithstanding any provisions of the general laws to the contrary, any increase in rates 4 |
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| 27 | 27 | | proposed to be charged by an electric distribution company as defined in chapter 1 of this title, shall 5 |
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| 28 | 28 | | be no greater than five and one-half percent (5.5%) or the percentage increase in the Consumer 6 |
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| 29 | 29 | | Price Index for all Urban Consumers (CPI-U) as published by the United States Department of 7 |
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| 30 | 30 | | Labor Bureau of Labor Statistics determined as of September 30 of the prior calendar year, 8 |
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| 31 | 31 | | whichever is greater, unless the increase shall have been previously approved by affirmative action 9 |
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| 32 | 32 | | of the general assembly. 10 |
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| 33 | 33 | | (b) The provisions of this section shall not apply to any electric distribution company 11 |
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| 34 | 34 | | having fewer than seven thousand five hundred (7,500) electricity customer accounts. 12 |
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| 35 | 35 | | SECTION 2. This act shall take effect upon passage. 13 |
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| 36 | 36 | | ======== |
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| 37 | 37 | | LC000157 |
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| 38 | 38 | | ======== |
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| 39 | 39 | | |
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| 40 | 40 | | |
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| 41 | 41 | | LC000157 - Page 2 of 2 |
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| 42 | 42 | | EXPLANATION |
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| 43 | 43 | | BY THE LEGISLATIVE COUNCIL |
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| 44 | 44 | | OF |
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| 45 | 45 | | A N A C T |
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| 46 | 46 | | RELATING TO PUBLIC UTILITIES AND CARRIERS - REGULATORY POWERS OF |
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| 47 | 47 | | ADMINISTRATION |
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| 48 | 48 | | *** |
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| 49 | 49 | | This act would provide that any rate increase with respect to electric distribution companies 1 |
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| 50 | 50 | | would be no greater than the increase in the Consumer Price Index or five and one-half percent 2 |
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| 51 | 51 | | (5.5%), whichever is greater, unless there is approval of a higher rate by the general assembly. 3 |
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| 52 | 52 | | This act would take effect upon passage. 4 |
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| 53 | 53 | | ======== |
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| 54 | 54 | | LC000157 |
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| 55 | 55 | | ======== |
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