20221213Final_Order_No_35621.pdf

ORDER NO. 35621 1
Office of the Secretary
Service Date
December 13, 2022
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 2023
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CASE NO. GNR-U-22-05

ORDER NO. 35621

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, 2021 through
October 31, 2022, is 2.06%. Accordingly, consistent with the applicable Commission rules, public
utilities must pay 2.0% annual interest on all customer deposits for calendar year 2023. This
interest rate is 1.0% greater than the interest rate paid in 2022. See order No. 35246.
O R D E R
IT IS HEREBY ORDERED that 2.0% annual interest shall be paid during calendar
year 2023 on customer deposits held by gas, electric, water, and telephone companies subject to
this Commission’s jurisdiction under IDAPA 31.21.01.106 and 31.41.01.104. 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 2023 shall be 2.0%.
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 and 62-619.
ORDER NO. 35621 2
DONE by Order of the Idaho Public Utilities Commission at Boise, Idaho this 13th day
of December 2022.

__________________________________________
ERIC ANDERSON, PRESIDENT

__________________________________________
JOHN CHATBURN, COMMISSIONER

__________________________________________
JOHN R HAMMOND JR., COMMISSIONER

ATTEST:

Jan Noriyuki
Commission Secretary

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