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HomeMy WebLinkAbout20221122Decision Memo.pdfTO: 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