HomeMy WebLinkAbout20021125_330.pdfTO:
FROM:
DATE:
RE:
DECISION MEMORANDUM
CO MMISSI 0 NER KJELLAND ER
COMMISSIONER SMITH
COMMISSIONER HANSEN
JEAN JEWELL
RANDY LOBB
DON HOWELL
TONYA CLARK
LYNN ANDERSON
BILL EASTLAKE
LOU ANN WESTERFIELD
BEVERL Y BARKER
RON LAW
WORKING FILE
TERRI CARLOCK
NOVEMBER 21 2002
ANNUAL DETERMINATION OF THE INTEREST RATES ON
DEPOSITS COLLECTED FROM CUSTOMERS FOR THE CALENDAR
YEAR 2003. CASE NO. GNR-02-02.
The interest to be paid on customer deposits for the 2003 calendar year is
determined by the twelve-month average interest rate from November 1 2001 through October
2002. This average rate is 2.13% as shown on the attached worksheet. Rounded to the
nearest whole percent the rate will be 2%, a 2% decrease 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
Interest Rate Order No.
21622 27167
22230
22836
23425
23971
24578
25242
25788
26233
26681
27248
27828
28234
28575
28896
DECISION MEMORANDUM NOVEMBER 21 2002
COMMISSION DECISION
Should the interest rate to be paid on deposits collected from customers for the
calendar year 2003 be set at 2%?
~.wU,
Terri Carlock
TC:word:u/tcarloc/AnnDetintRatesll-21-2002.
DECISION MEMORANDUM NOVEMBER 21 , 2002
APPENDIX
ONE-YEAR TREASURY BILLS
Week Ended Rate %Week Ended Rate %
02-Nov-03-May-
09-Nov-10-May-
16-Nov-17 -May-2.40
23-Nov-24-May-
30-Nov-31-May-
07 -Dec-07 -Jun-
14-Dec-14-Jun-
21-Dec-21-Jun-
28-Dec-28-Jun-
04-Jan-05-Jul-
11-Jan-12-Jul-
18-Jan-19-Jul-
25-Jan-26-Jul-
01-Feb-02-Aug-
08-F eb-09-Aug-
15-F eb-16-Aug-
22-Feb-23-Aug-
01-Mar-30-Aug-
08-Mar -2.41 06-Sep-
15-Mar -13-Sep-
22-Mar-20-Sep-
29-Mar -27 -Sep-
05-Apr -04-0ct-
12-Apr-11-0ct-
19-Apr -2.42 18-0ct-
26-Apr -25-0ct-
Average
Source: Wall Street Journal Key Interest Rates