20031203Final Order No 29386.pdf

Office of the Secretary
Service Date
December 3 2003
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION
IN THE MATTER OF THE APPLICATION
OF THE INTEREST RATE ON DEPOSITS
COLLECTED FROM CUSTOMERS OF GAS,
ELECTRIC, TELEPHONE AND WATER
PUBLIC UTILITIES FOR THE CALENDAR
YEAR 2004.ORDER NO. 29386
CASE NO. GNR-03-
The Commission s Customer Relations Rules for Gas, Electric and Water Utilities
(IDAPA 31.21.01.106) and the Customer Relations Rules for Telephone Companies (IDAPA
31.41.01.106) both provide for the payment of interest on customer deposits. Pursuant to Rule
106.02 ofthese rule sets, the interest rate on deposits is determined by calculating the 12-month
average interest rate for one-year treasury bills for the previous November 1 through October 31.
The resulting rate is then rounded to the nearest whole percent. The calculated rate will be in
effect for the following calendar year.
Using the weekly rates found in the "Wall Street Journal " the average interest rate
for one-year treasury bills for the 12-month period from November 2002 through October 31
2003, is 1.27%. This rounds to 1.0%. Accordingly, public utilities shall pay 1.0% annual interest
on all customer deposits held pursuant to IDAPA Rules 31.21.01.106 and 31.41.01.106 for
calendar year 2004. The 2004 interest rate is a decrease of 1.0% from the 2003 interest rate of
0%.
ORDER
IT IS HEREBY ORDERED that 1.0% annual interest be paid during calendar year
2004 on customer deposits held by gas, electric, water, and telephone companies subject to this
Commission s jurisdiction under IDAPA 31.21.01.106 and 31.41.01.106. The Commission
Secretary shall serve this Order upon all public utilities operating within Idaho.
IT IS FURTHER ORDERED that the rate on deferred accounts using the customer
deposit rate during the calendar year 2004 shall also change to 1.0%.
THIS IS A FINAL ORDER. Any person interested in this Order (or in issues finally
decided by this Order) or in interlocutory Orders previously issued in this Case No. GNR-03-
may petition for reconsideration within twenty-one (21) days of the service date of this Order
ORDER NO. 29386
with regard to any matter decided in this Order or in interlocutory Orders previously issued in
this Case No. GNR-03-Within seven (7) days after any person has petitioned for
reconsideration, any other person may cross-petition for reconsideration. See Idaho Code 9 61-
626.
DONE by Order of the Idaho Public Utilities Commission at Boise, Idaho this
day of December 2003.
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MARSHA H. SMITH, COMMISSIONER
ATTEST:
Commission Secretary
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ORDER NO. 29386