Commission rules set the customer deposit interest rate at the level of the one-year Treasury Constant Maturity, as calculated by the U.S. Treasury and published in the Federal Reserve's Statistical Release H.15.
Telephone and Water Companies
As of Nov. 15, 2023, the interest rate that telephone and water companies must pay on the deposits they hold for their customers is 5.27%.
For each calendar year, telephone and water company rules use the rate as of Nov. 15 of the previous year.
Gas, Electric and Solid Waste Companies
As of Jan. 15, 2023, the interest rate that gas, electric, and solid waste companies must pay on the deposits they hold for their customers is 4.67%.
Gas, electric, and solid waste company rules use the rate as of Jan. 15. The rates were determined as of Jan. 17, 2023, because Jan. 15 fell on Sunday and Jan. 16 was a holiday, the interest rate for 2023 is the rate as released on Jan. 17, 2023.