The Commission, on a quarterly basis, publishes interest rates for oil, natural gas, and electricity for determination of refund purposes. The interest rates on this page as well as the archived rates are the same for oil, natural gas, and electricity. Please note that the interest rates for oil apply only as far back as 1983.
- Electric Interest Rates are Calculated in Accordance with Section 35.19a of the Commission's regulations. Section 35.19a, subsection (iii)(A) provides that “[t]he applicable average prime rate for each calendar quarter shall be the arithmetic mean, to the nearest one-hundredth of one percent, of the prime rate values published in the Federal Reserve Bulletin, or in the Federal Reserve's “Selected Interest Rates” (Statistical Release H. 15), for the fourth, third, and second months preceding the first month of the calendar quarter.” For example, the refund interest rate for the fourth quarter of a year (October 1 – December 31) would be calculated using the prime rate values published on June 30, July 31 and August 31.
- Gas Interest Rates are Calculated in Accordance with Section 154.501(d) of the Commission's regulations and its predecessors
- Oil Interest Rates are Calculated in Accordance with Section 340.1(c)(2) of the Commission's regulations
| Applicable Annual Quarter | Annual Rate | Monthly Rate (Annual % / 365dx # days in month) 1 |
Monthly Rate (Annual Rate / 12 Months) |
|---|---|---|---|
| First Quarter 2025 | 8.04% | Jan .0068 | .0067 |
| Feb .0062 | |||
| Mar .0068 | |||
| Fourth Quarter 2024 | 8.50% | Dec .0072 | .0071 |
| Nov .0070 | |||
| Oct .0072 | |||
| Third Quarter 2024 | 8.50% | Sep .0070 | .0071 |
| Aug .0072 | |||
| Jul .0072 | |||
| Second Quarter 2024 | 8.50% | Jun .0070 | .0071 |
| May .0072 | |||
| Apr .0070 | |||
| First Quarter 2024 | 8.50% | Mar .0072 | .0071 |
| Feb .0068 | |||
| Jan .0072 | |||
| Fourth Quarter 2023 | 8.35% | Dec .0071 | .0070 |
| Nov .0069 | |||
| Oct .0071 | |||
| Third Quarter 2023 | 8.02% | Sep .0066 | .0067 |
| Aug .0068 | |||
| Jul .0068 | |||
| Second Quarter 2023 | 7.50% | Jun .0062 | .0063 |
| May .0064 | |||
| Apr .0062 | |||
| First Quarter 2023 | 6.31% | Mar .0054 | .0053 |
| Feb .0048 | |||
| Jan .0054 | |||
| Fourth Quarter 2022 | 4.91% | Dec .0042 | .0041 |
| Nov .0040 | |||
| Oct .0042 | |||
Third Quarter 2022 |
3.60% | Sep .0030 | .0030 |
| Aug .0031 | |||
| Jul .0031 | |||
|
Second Quarter 2022 |
3.25% |
Jun .0027 |
.0027 |
|
May .0028 |
|||
| Apr .0027 | |||
| First Quarter 2022 | 3.25% | Mar .0028 | .0027 |
| Feb .0025 | |||
| Jan .0028 | |||
|
Fourth Quarter 2021 |
3.25% | Dec .0028 | .0027 |
|
Nov .0027 |
|||
|
Oct .0028 |
|||
|
Third Quarter 2021 |
3.25% |
Sep .0027 |
.0027 |
| Aug .0028 | |||
| Jul .0028 | |||
|
Second Quarter 2021 |
3.25% | Jun .0027 | .0027 |
|
May .0028 |
|||
|
Apr .0027 |
|||
|
First Quarter 2021 |
3.25% |
Mar .0028 |
.0027 |
|
Feb .0025 |
|||
|
Jan .0028 |
|||
|
Fourth Quarter 2020 |
3.25% |
Dec .0028 |
.0027 |
|
Nov .0027 |
|||
|
Oct .0028 |
|||
|
Third Quarter 2020 |
3.43% |
Sep .0028 |
.0029 |
|
Aug .0029 |
|||
|
Jul .0029 |
|||
|
Second Quarter 2020 |
4.75% |
Jun .0039 |
.0040 |
|
May .0040 |
|||
|
Apr .0039 |
|||
|
First Quarter 2020 |
4.96% |
Mar .0042 |
.0041 |
|
Feb .0039 |
|||
|
Jan .0042 |
|||
|
Fourth Quarter 2019 |
5.42% |
Dec .0046 |
.0045 |
|
Nov .0045 |
|||
|
Oct .0046 |
|||
|
Third Quarter 2019 |
5.50% |
Sep .0045 |
.0046 |
|
Aug .0047 |
|||
|
Jul .0047 |
|||
|
Second Quarter 2019 |
5.45% |
Jun .0045 |
.0045 |
|
May .0046 |
|||
|
Apr .0045 |
|||
|
First Quarter 2019 |
5.18% |
Mar .0044 |
.0043 |
|
Feb .0040 |
|||
|
Jan .0044 |
|||
|
Fourth Quarter 2018 |
4.96% |
Dec .0042 |
.0041 |
|
Nov .0041 |
|||
|
Oct .0042 |
|||
|
Third Quarter 2018 |
4.69% |
Sep .0039 |
.0039 |
|
Aug .0040 |
|||
|
Jul .0040 |
|||
|
Second Quarter 2018 |
4.47% |
Jun .0037 |
.0037 |
|
May .0038 |
|||
|
Apr .0037 |
|||
|
First Quarter 2018 |
4.25% |
Mar .0036 |
.0035 |
|
Feb .0033 |
|||
|
Jan .0036 |
|||
|
Fourth Quarter 2017 |
4.21% |
Dec .0036 |
.0035 |
|
Nov .0035 |
|||
|
Oct .0036 |
|||
|
Third Quarter 2017 |
3.96% |
Sep .0033 |
.0033 |
|
Aug .0034 |
|||
|
Jul .0034 |
|||
|
Second Quarter 2017 |
3.71% |
Jun .0030 |
.0031 |
|
May .0032 |
|||
|
Apr .0030 |
|||
|
First Quarter 2017 |
3.50% |
Mar .0030 |
.0029 |
|
Feb .0027 |
|||
|
Jan .0030 |
|||
|
Fourth Quarter 2016 |
3.50% |
Dec .0030 |
.0029 |
|
Nov .0029 |
|||
|
Oct .0030 |
|||
|
Third Quarter 2016 |
3.50% |
Sep .0029 |
.0029 |
|
Aug .0030 |
|||
|
Jul .0030 |
|||
|
Second Quarter 2016 |
3.46% |
Jun .0028 |
.0029 |
|
May .0029 |
|||
|
Apr .0028 |
|||
|
First Quarter 2016 |
3.25% |
Mar .0028 |
.0027 |
|
Feb .0026 |
|||
|
Jan .0028 |