20221122_GNRU2205.pdf

TO:
FROM:
DATE:
RE:
DECISION MEMORANDUM
COMMISSIONER ANDERSON COMMISSIONER CHABURN
COMMISSIONER HAMMOND COMMISSION SECRETARY LEGAL WORKING FILE
JOSEPH TERRY DAYN HARDIE
NOVEMBER 22, 2022
ANNUAL DETERMINATION OF THE INTEREST RATES ON DEPOSITS COLLECTED FROM CUSTOMERS FOR THE CALENDAR YEAR 2023; CASE NO. GNR-U-22-05.
Every year the Commission sets the interest rate to be paid on customer deposits for the
next calendar year. Rule I 06 of the of the Customer Relations Rules for Gas, Electric and Water
Utilities provides: "the Commission will determine the twelve-month average interest rate for
one-year Treasury Bills for the previous November 1 through October 31, round that rate to the
nearest whole percent...". (IDAPA 31.21.01.106 and IDAPA 31.41.01.104). This average
interest rate is 2.06% as shown on Attachment A. Staff recommends the rate be rounded to the
nearest whole percent and be set at 2% for the calendar year 2023, a I% increase from the prior
year.
COMMISSION DECISION
Should the interest rate paid on deposits collected from customers for the calendar year
2022 be set at 2%?
DECISION MEMORANDUM - l -NOVEMBER 22, 2022
ATTACHMENT
ONE-YEARTREASURY RATES
VVeekEnded RateS4 YveekEnded Rate%
11/5/2021 01.14 4/29/2022 2.10
11/12/2021 0.17 5/6/2022 2.08
11/19/2021 0.18 5/13/2022 2.04
11/26/2021 01.20 5/20/2022 2.07
12/3/2021 0.26 5/27/2022 2.01
12/10/2021 0.27 6/3/2022 2.18
12/17/2021 0.27 6/10/2022 2JS8
12/23/2021 0.31 6/17/2022 2.86
12/31/2021 0.39 6/24/2022 2.83
1/7/2022 0.43 7/1/2022 2 15
1/14/2022 OJs1 7/8/2022 2J96
1/21/2022 0.58 7/15/2022 3.12
1/28/2022 0.75 7/22/2022 3.01
2/4/2022 0.89 7/29/2022 2.98
2/11/2022 1.07 8/5/2022 3.29
2/18/2022 1.03 8/12/2022 3.26
2/25/2022 1.103 8/19/2022 3.26
3/4/2022 1.05 8/26/2022 3.36
3/11/2022 1.22 9/2/2022 3.47
3/18/2022 1.29 9/9/2022 3.67
3/25/2022 1.67 9/16/2022 3.96
4/1/2022 1 72 9/23/2022 4.15
4/8/2022 1.81 9/30/2022 4.05
4/14/2022 1.84 10/7/2022 4.24
4/22/2022 2.06 10/14/2022 4.50
4/29/2022 2.10 10/21/2022 4.58
10/28/2022 4JS5
40/ERAASE 2.06
Source:Federal ReserveTreasury Rates
One-YearConstantnnaturities
https://www.treasury.gov/resource-center/data-chart-center/interest-
rates/Pages/TextView.aspx7data=yieldYear&year=2020
ATTACHhnENTA