20211206Final_Order_No_35246.pdf

ORDER NO. 35246 1
Office of the Secretary
Service Date
December 6, 2021
BEFORE THE IDAHO PUBLIC UTILITIES COMMISSION

IN THE MATTER OF THE INTEREST RATE
ON DEPOSITS COLLECTED FROM
CUSTOMERS OF GAS, ELECTRIC,
TELEPHONE AND WATER PUBLIC
UTILITIES FOR CALENDAR YEAR 2022
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CASE NO. GNR-U-21-02

ORDER NO. 35246

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
31.41.01.104) require utilities to pay interest on customer deposits. To determine the interest rate,
the Commission calculates the 12-month average interest rate for one-year treasury bills for the
previous November 1 through October 31, rounded to the nearest whole percent. Public utilities
must pay the rounded interest rate on customer deposits during the next calendar year.
Using the weekly rates as posted by the U.S. Department of Treasury, the average
interest rate for one-year treasury bills for the 12-month period from November 1, 2020, through
October 31, 2021, is 0.08%. Commission Order No. 32109 determined that zero is not a whole
interest rate and paying some level of interest on deposits is fair. Accordingly, public utilities must
pay 1.0% annual interest on all customer deposits for calendar year 2022.
O R D E R
IT IS HEREBY ORDERED that 1.0% annual interest shall be paid during calendar
year 2022 on customer deposits held by gas, electric, water, and telephone companies subject to
this Commission’s jurisdiction pursuant to IDAPA 31.21.01.106 and 31.41.01.104. 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 calendar year 2022 shall be 1.0%.
THIS IS A FINAL ORDER. Any person interested in this Order may petition for
reconsideration within twenty-one (21) days of the service date of this Order. Within seven (7)
days after any person has petitioned for reconsideration, any other person may cross-petition for
reconsideration. See Idaho Code § 61-626.
ORDER NO. 35246 2
DONE by Order of the Idaho Public Utilities Commission at Boise, Idaho this 6th day
of December 2021.

PAUL KJELLANDER, PRESIDENT

KRISTINE RAPER, COMMISSIONER

ERIC ANDERSON, COMMISSIONER

ATTEST:

Jan Noriyuki
Commission Secretary

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