Public Utilities Commission Sets 2009 Interest Rates

Interest rates set by the PUC for customer utility deposits and over/under billings in 2009 are substantially lower than current rates.

NEWS RELEASE, Dec. 1, 2008 -- Texas electric and telephone customers who are over billed will be paid 3.21 percent interest in 2009 under rates established Monday by the Public Utility Commission. Customers will receive 2.09 percent interest on utility deposits.

The 3.21 percent rate for over billings is based on the 90-day prime commercial paper rate over the last 12 months.

The 2.09 percent rate for deposit refunds is based on the average yield on 26-week Treasury bills during the past 12 months.

The final order is available on the PUC Web site by going to the filings interchange under control number 35141.

Editors Note: the current over-bill interest rate is 5.21%. The current utility deposit interest rate is 4.69%.