Late payment charges

A utility 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 of Public Utilities (DPU).

List of current and historical rates

Effective Date Monthly Interest Rate Annual Interest Rate
February 1, 2019 0.99% 12.53%
February 1, 2018 0.90% 11.40%
February 1, 2017 0.86% 10.83%
February 1, 2016 0.85% 10.69%
February 1, 2015 0.83% 10.46%

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 12 months ending December 31 of any year, plus 10%, i.e. 1000 basis points.

Additional Resources for List of current and historical rates