AN ACT TO AMEND TITLE 18 OF THE DELAWARE CODE RELATING TO RATES.

This Substitute differs from Senate Bill No. 222 as follows: (1) By clarifying the definition of “Core CPI” by including “over-the-year”, which is used by the United States Bureau of Labor Statistics to make clear the calculation is year-over-year and not year-to-date. (2) By clarifying that the Commissioner will use the bimonthly indices developed by the United States Bureau of Labor Statistics ending with the bimonthly index issued in January of the applicable rate filing year. (3) By setting, in Section 2 of this Act, the Core CPI for rate filing year 2022 at 2.7%. As a result, under § 2503(a)(12)a.1. of Title 18 of the Delaware Code, the allowable aggregate unit price growth for rate filing year 2022 is 3.7%, which is the Core CPI, or 2.7%, plus 1%.