2015 -- H 5099

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LC000535

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     STATE OF RHODE ISLAND

IN GENERAL ASSEMBLY

JANUARY SESSION, A.D. 2015

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A N   A C T

RELATING TO PUBLIC UTILITIES AND CARRIERS - REGULATORY POWERS OF

ADMINISTRATION

     

     Introduced By: Representatives Lombardi, Shekarchi, Carnevale, Costantino, and

     Date Introduced: January 15, 2015

     Referred To: House Corporations

     It is enacted by the General Assembly as follows:

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     SECTION 1. Chapter 39-3 of the General Laws entitled "Regulatory Powers of

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Administration" is hereby amended by adding thereto the following section:

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     39-3-45. Electric rates tied to the consumer price index. – (a) Notwithstanding any

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provisions of the general laws to the contrary, any increase in rates proposed to be charged by an

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electric distribution company as defined in chapter 1 of this title, shall be no greater than five and

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one-half percent (5.5%) or the percentage increase in the Consumer Price Index for all Urban

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Consumers (CPI-U) as published by the United States Department of Labor Bureau of Labor

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Statistics determined as of September 30 of the prior calendar year, whichever is greater, unless

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the increase shall have been previously approved by affirmative action of the general assembly.

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     (b) The provisions of this section shall not apply to any electric distribution company

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having fewer than seven thousand five hundred (7,500) electricity customer accounts.

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     SECTION 2. This act shall take effect upon passage.

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LC000535

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EXPLANATION

BY THE LEGISLATIVE COUNCIL

OF

A N   A C T

RELATING TO PUBLIC UTILITIES AND CARRIERS - REGULATORY POWERS OF

ADMINISTRATION

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     This act would provide that any rate increase with respect to electric distribution

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companies would be no greater than the increase in the Consumer Price Index or five and one-

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half percent (5.5%), whichever is greater, without prior approval of the general assembly.

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     This act would take effect upon passage.

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