Effective Date | Monthly Interest Rate | Annual Rate | Pursuant to |
|---|---|---|---|
Upon Department approval of utility tariff provisions | 1.50% | 19.56% | D.P.U. 18248 (2/4/1975) |
November 1, 1994 | 1.10% | 14.05% | D.P.U. 93-204-A (9/27/1994) |
February 1, 1995 * | 1.24% | 15.94% | 220 C.M.R. 26.10 (4) |
February 1, 1996 | 1.26% | 16.15% | 220 C.M.R. 26.10 (4) |
February 1, 1997 | 1.23% | 15.84% | 220 C.M.R. 26.10 (4) |
February 1, 1998 | 1.24% | 15.99% | 220 C.M.R. 26.10 (4) |
February 1, 1999 | 1.18% | 15.13% | 220 C.M.R. 26.10 (4) |
February 1, 2000 | 1.20% | 15.43% | 220 C.M.R. 26.10 (4) |
February 1, 2001 | 1.26% | 16.26% | 220 C.M.R. 26.10 (4) |
February 1, 2002 | 1.09% | 13.83% | 220 C.M.R. 26.10 (4) |
February 1, 2003 | 1.00% | 12.64% | 220 C.M.R. 26.10 (4) |
February 1, 2004 | 0.92% | 11.65% | 220 C.M.R. 26.10 (4) |
February 1, 2005 | 0.98% | 12.38% | 220 C.M.R. 26.10 (4) |
February 1, 2006 | 1.09% | 13.85% | 220 C.M.R. 26.10 (4) |
February 1, 2007 | 1.16% | 14.82% | 220 C.M.R. 26.10 (4) |
February 1, 2008 | 1.12% | 14.36% | 220 C.M.R. 26.10 (4) |
February 1, 2009 | 0.95% | 12.01% | 220 C.M.R. 26.10 (4) |
| February 1, 2010 | 0.87% | 10.96% | 220 C.M.R. 26.10 (4) |
| February 1, 2011 | 0.85% | 10.70% | 220 C.M.R. 26.10 (4) |
| February 1, 2012 | 0.83% | 10.45% | 220 C.M.R. 26.10 (4) |
| February 1, 2013 | 0.82% | 10.28% | 220 C.M.R. 26.10 (4) |
A company may assess a late payment charge on the unpaid past due portion of a balance of a customer bill.
Utilities seeking to impose late payment charges must file them as a tariff provision for review and approval of the Department.
*Pursuant to 220 C.M.R. 26.10 (4), the late payment charge shall be calculated at an annual rate of interest which is the equivalent of the rate paid on two-year United States Treasury notes for the preceding
This information is provided by the Department of Public Utilities