ORDER NO. 99-089
ENTERED FEB 18 1999
This is an electronic copy. Appendices and Footnotes may not be included.
BEFORE THE PUBLIC UTILITY COMMISSION
OF OREGON
UM 779
| In the Matter of the Commission’s Determination of Late-Payment Rate and Interest Accrued on Customer Deposits. | ) ) ORDER |
DISPOSITION: CURRENT LATE PAYMENT RATE REMAINS IN EFFECT;
CUSTOMER DEPOSIT INTEREST ACCRUAL RATE CHANGED
At its February 2, 1999, public meeting, the Commission accepted Staff’s recommendations that the current 1.5 percent monthly rate which utilities charge customers on overdue accounts remain in effect and that the five percent annual rate at which utilities must credit customer deposit accounts be changed to four percent. Staff’s recommendation is attached as Appendix A and is incorporated by reference.
ORDER
IT IS ORDERED that:
The monthly late-payment rate which utilities may charge customers on overdue accounts shall remain at 1.5 percent.
Effective April 1, 1999, all customer deposits shall accrue interest at a four percent annual rate. Pursuant to OAR 860-021-0210 and 860-034-0160, interest is to be prorated if the deposit is held less than one year.
These rates shall remain in effect until further notice.
Made, entered, and effective
| BY THE
COMMISSION:______________________________ Vikie Bailey-Goggins Commission Secretary |