Applicable Interest Rates for Delinquent Bills and Annual True-Up Adjustment
(updated on November 2, 2011)
For Slice Expedited and Regular Bills
Note: The interest rate information contained in the tables in this website were discontinued as of November 2, 2011. The interest rate information was used for calculating late payment charges for the Subscription Slice Expedited and Regular Bills, and for calculating interest charges or credits that were added to the annual Subscription Slice True-Up Adjustment Charge or Credit. Because the Subscription Slice and Block Power Sales Agreement expired on September 30, 2011, there is no longer a need to post this information for the Subscription Slice bills and Subscription Slice True-Up Adjustment.
The applicable interest rate for computing late payment charges on delinquent Slice Expedited and Regular Bills is the Prime Rate for Large Banks (the base rate on corporate loans posted by at least 75% of the nation's 30 largest Banks) as reported in the Wall Street Journal on the first day of the month in which the late payment is received, plus 4 percent. See section 10(a)(2) of the Block and Slice Power Sales Agreement (Block/Slice PSA) for more details on calculating late payment charges for Expedited Bills. See section 10(b)(2) for more details on calculating late payment charges for Regular Bills.
Added to the Annual Slice True-Up Adjustment Charge or Credit
The applicable interest rate for computing interest to be added to the annual Slice True-Up Adjustment Charge or Credit shall be the Prime Rate for Large Banks (the base rate on corporate loans posted by at least 75% of the nation's 30 largest Banks) as reported in the Wall Street Journal on the first day of the Contract Year (CY) in which the True-Up Adjustment Charge is calculated. See section 4(b)(6)(E) of the Block/Slice PSA for more details on calculating the interest to be added to the True-Up Adjustment Charge or credit. The True-Up Adjustment Charge or credit will be calculated no later than March 31 following the end of each Contract Year. For the year 2010, the True-Up Adjustment Charge or credit will be calculated no later than March 31, 2011, and the applicable interest rate for computing interest to be added to the True-Up Adjustment Charge or credit will be the Prime Rate as reported in the Wall Street Journal on October 1, 2010.
Date | Prime Rate | Applicability |
---|---|---|
10-03-2011 | 3.25 percent | Applicable to True-Up Adjustment Charge or credit for CY2011 |
10-01-2010 | 3.25 percent | Applicable to True-Up Adjustment Charge or credit for CY2010 |
10-01-2009 | 3.25 percent | Applicable to True-Up Adjustment Charge or credit for CY2009 |
10-01-2008 | 5.0 percent | Applicable to True-Up Adjustment Charge or credit for CY2008 |
10-01-2007 | 7.75 percent | Applicable to True-Up Adjustment Charge or credit for CY2007 |
10-02-2006 | 8.25 percent | Applicable to True-Up Adjustment Charge or credit for CY2006 |
10-03-2005 | 6.75 percent | Applicable to True-Up Adjustment Charge or credit for CY2005 |
10-01-2004 | 4.75 percent | Applicable to True-Up Adjustment Charge or credit for CY2004 |
10-01-2003 | 4.00 percent | Applicable to True-Up Adjustment Charge or credit for CY2003 |
10-01-2002 | 4.75 percent | Applicable to True-Up Adjustment Charge or credit for CY2002 |
Content provided by: Carie Lee, 503-230-3660, celee@bpa.gov.
Page maintained by: BPA Web Team.
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