2019 -- H 5093 | |
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LC000199 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2019 | |
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A N A C T | |
RELATING TO PUBLIC UTILITIES AND CARRIERS - REGULATORY POWERS OF | |
ADMINISTRATION | |
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Introduced By: Representatives Lombardi, Hull, Quattrocchi, and Nardone | |
Date Introduced: January 10, 2019 | |
Referred To: House Corporations | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Chapter 39-3 of the General Laws entitled "Regulatory Powers of |
2 | Administration" is hereby amended by adding thereto the following section: |
3 | 39-3-45. Electric rates tied to the consumer price index. |
4 | (a) Notwithstanding any provisions of the general laws to the contrary, any increase in |
5 | rates proposed to be charged by an electric distribution company as defined in chapter 1 of this |
6 | title, shall be no greater than five and one-half percent (5.5%) or the percentage increase in the |
7 | Consumer Price Index for all Urban Consumers (CPI-U) as published by the United States |
8 | Department of Labor Bureau of Labor Statistics determined as of September 30 of the prior |
9 | calendar year, whichever is greater, unless the increase shall have been previously approved by |
10 | affirmative action of the general assembly. |
11 | (b) The provisions of this section shall not apply to any electric distribution company |
12 | having fewer than seven thousand five hundred (7,500) electricity customer accounts. |
13 | SECTION 2. This act shall take effect upon passage. |
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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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1 | This act would provide that any rate increase with respect to electric distribution |
2 | companies would be no greater than the increase in the Consumer Price Index or five and one- |
3 | half percent (5.5%), whichever is greater, unless there is approval of a higher rate by the general |
4 | assembly. |
5 | This act would take effect upon passage. |
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