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HomeMy WebLinkAbout20051219_1411.pdfDECISION MEMORANDUM TO:CO MMISSI 0 NER KJELLAND ER COMMISSIONER SMITH COMMISSIONER HANSEN COMMISSION SECRETARY LEGAL WORKING FILE FROM:TERRI CARLOCK DATE:DECEMBER 13, 2005 RE:ANNUAL DETERMINATION OF THE INTEREST RATES ON DEPOSITS COLLECTED FROM CUSTOMERS FOR THE CALENDAR YEAR 2006. CASE NO. GNR-05- The interest to be paid on customer deposits for the 2006 calendar year is determined by the twelve-month average interest rate from November 1 , 2004 through October 31 , 2005. This average rate is 3.32% as shown on the attached worksheet. Rounded to the nearest whole percent the rate will be 3%, a 1 % increase from the prior year. The following chart shows the interest rates for the various years and the order numbers approving those rates. Calendar Year 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 Interest Rate Order No. 21622 27167 22230 22836 23425 23971 24578 25242 25788 26233 26681 27248 27828 28234 28575 28896 29158 29386 29653 DECISION MEMORANDUM DECEMBER 13 , 2005 COMMISSION DECISION Should the interest rate to be paid on deposits collected from customers for the calendar year 2006 be set at 3 % JVlJl~, C~J1loC~ Terri Carlock TC:word:u/tcarloc/ AnnDetIntRates 12-13 -2005. TC DECISION MEMORANDUM DECEMBER 13, 2005 APPENDIX ONE-YEAR TREASURY RATES Week Ended Rate %Week Ended Rate % 11/5/2004 5/6/2005 11/12/2004 2.47 5/13/2005 11/19/2004 5/20/2005 11/26/2004 5/27/2005 12/3/2004 6/3/2005 12/10/2004 6/10/2005 12/17/2004 6/17/2005 12/24/2004 6/24/2005 3.40 12/31/2004 7/1/2005 3.46 1/7/2005 7/8/2005 1/14/2005 7/15/2005 1/21/2005 7/22/2005 1/28/2005 7/29/2005 2/4/2005 8/5/2005 2/11/2005 8/12/2005 2/18/2005 8/19/2005 2/25/2005 8/26/2005 3/4/2005 9/2/2005 3/11/2005 9/9/2005 3/18/2005 9/16/2005 3/25/2005 9/23/2005 4/1/2005 9/30/2005 4/8/2005 10/7/2005 4/15/2005 10/14/2005 4/22/2005 10/21/2005 4/29/2005 10/28/2005 AVERAGE Source: Federal Reserve Treasury Rates