20231115Final_Order_No_36000.pdf

ORDER NO. 36000 1
Office of the Secretary
Service Date
November 15, 2023
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 2024
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CASE NO. GNR-U-23-01

ORDER NO. 36000

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, 2022 through October
31, 2023, is 5.01%. Accordingly, consistent with the applicable Commission rules, public utilities
must pay 5.0% annual interest on all customer deposits for calendar year 2024. This interest rate
is 3.0% greater than the interest rate paid in 2023. See order No. 35621.
O R D E R
IT IS HEREBY ORDERED that 5.0% annual interest shall be paid during calendar year
2024 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 2024 shall be 5.0%.
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. 36000 2
DONE by Order of the Idaho Public Utilities Commission at Boise, Idaho this 15th day of
November 2023.

__________________________________________
ERIC ANDERSON, PRESIDENT

__________________________________________
JOHN R HAMMOND JR., COMMISSIONER

__________________________________________
EDWARD LODGE, COMMISSIONER

ATTEST:

Jan Noriyuki
Commission Secretary

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