This bill amends Chapter 39-3 of the General Laws to add a new section that ties electric rates to the Consumer Price Index (CPI). Under this new section, any proposed rate increase by an electric distribution company cannot be greater than 5.5% or the percentage increase in the CPI, whichever is greater. However, if the increase has been previously approved by the general assembly, it can exceed these limits. The bill also specifies that this section does not apply to electric distribution companies with fewer than 7,500 customer accounts. The bill will take effect upon passage.