The draft rules contain a provision that deposit refunds from private utilities should include interest of between 6 and 10 percent a year, depending on when service was first taken. State-owned cooperatives will not be required to pay interest, however. Refunds can be spread over a five year period or less, and utilities must inform the ERC a month before they plan to begin refunding their customers.
The refunds will be credited to customers’ monthly bills.
