11558537, 25-30.311 - Florida Administrative Rules, Law, Code, Register

Home

Florida Department of State and Division of Library and Information Services

Notice: 11558537

Notice of Proposed Rule

Department:

PUBLIC SERVICE COMMISSION

Chapter:

WATER AND WASTEWATER UTILITY RULES

Overview

RULE:

25-30.311

Customer Deposits

PURPOSE:

The interest rate applied to customer deposits of water/wastewater utilities would be changed to a minimum interest rate of 2 percent per annum, and 3 percent per annum for non-residential customers when the utility elects not to refund such a deposit after 23 months. 
Docket No. 120125-PU

SUMMARY:

The current interest rates required on customer deposits are higher than justified by current credit and capital markets.  The minimum interest rate is changed to 2 percent per annum, and to 3 percent per annum for non-residential customers when the utility elects not to refund such a deposit after 23 months.  Currently, the minimum interest rates are set at 6 percent and 7 percent per annum, respectively.  The utilities must apply the revised interest rates within 45 days of the effective date of the rule.

RULEMAKING AUTHORITY:

350.127(2), 367.121, F.S.

LAW:

367.081, 367.111, 367.121, F.S.

PRINT PUBLISH DATE:

6/1/2012 Vol. 38/22

COMMENTS:

From 6/1/2012 To 6/22/2012 (21 Days)
The public comment period for this notice has already expired.

REFERENCE MATERIALS:

No reference(s).

Under Florida law, E-mail addresses are public records. If you do not want your E-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by phone or in writing.