Florida Administrative Code › 25 - PUBLIC SERVICE COMMISSION › 25 - Departmental › Chapter 25-30 - WATER AND WASTEWATER UTILITY RULES › Section 25-30.360 - Refunds

Current through Reg. 50, No. 138; July 16, 2024
(1) Applicability. All refunds under this
				chapter shall be made in accordance with this rule, unless another rule in this
				chapter specifically sets forth the procedure for making refunds. The
				calculation for overbillings shall be pursuant to Rule
				 25-30.350, F.A.C., and disbursed
				pursuant to this rule.
(2) Timing
				of Refunds. Refunds must be made within 90 days of the Commission's order
				unless a different time frame is prescribed by the Commission. A timely motion
				for reconsideration temporarily stays the refund, pending the final order on
				the motion for reconsideration. In the event of a stay pending reconsideration,
				the timing of the refund shall commence from the date of the order disposing of
				any motion for reconsideration. This rule does not authorize any motion for
				reconsideration not otherwise authorized by Chapter 25-22, F.A.C.
(3) Basis of Refund. Where the refund is the
				result of a specific rate change, including interim rate increases, and the
				refund can be computed on a per customer basis, that will be the basis of the
				refund. However, where the refund is not related to specific rate changes, such
				as a refund for overearnings, the refund shall be made to customers of record
				as of a date specified by the Commission. In such case, refunds shall be made
				on the basis of usage. Per customer refund refers to a refund to every customer
				receiving service during the refund period. Customer of record refund refers to
				a refund to every customer receiving service as of a date specified by the
				Commission.
(4) Interest.
(a) In the case of refunds which the
				Commission orders to be made with interest, the average monthly interest rate
				until refund is posted to the customer's account shall be based on the 30 day
				commercial paper rate for high grade, unsecured notes sold through dealers by
				major corporations in multiples of $1, 000 as regularly published in the Wall
				Street Journal.
(b) This average
				monthly interest rate shall be calculated for each month of the refund period:
1. By adding the published interest rate in
				effect for the last business day of the month prior to each month the refund
				period and the published rate in effect for the last business day of each month
				of the refund period divided by 24 to obtain the average monthly interest
				rate;
2. The average monthly
				interest rate for the month prior to distribution shall be the same as the last
				calculated average monthly interest rate.
(c) The average monthly interest rate shall
				be applied to the sum of the previous month's ending balance (including monthly
				interest accruals) and the current month's ending balance divided by 2 to
				accomplish a compounding effect.
(d) Interest Multiplier. When the refund is
				computed for each customer, an interest multiplier may be applied against the
				amount of each customer's refund in lieu of a monthly calculation of the
				interest for each customer. The interest multiplier shall be calculated by
				dividing the total amount refundable to all customers, including interest, by
				the total amount of the refund, excluding interest. For the purpose of
				calculating the interest multiplier, the utility may, upon approval by the
				Commission, estimate the monthly refundable amount.
(e) Commission staff shall provide applicable
				interest rate figures and assistance in calculations under this rule upon
				request of the affected utility.