ConsultationsRule023

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​​​​​​​​Updates to Rule 023 – Rules Respecting Payment of Interest

 Status: Open

 Last updated: September 23, 2021

 Contacts:

• salma.karim@auc.ab.ca
  
• mark.mcjannet@auc.ab.ca 
  ​
  

September 23, 2021

The AUC issued Bulletin 2021-17 seeking feedback on a number of proposed amendments to Rule 023: Rules Respecting Payment of Interest.​ The proposed amendments simplify Rule 023 and ensure broad application of the rule. Specifically, the Commission is considering the following amendments:

• Broad application of the rule to all outstanding balances and adjustments of rates, tolls or charges and any other costs that are subject to the Commission’s jurisdiction.
• Simplification of the criteria applied to a request for the payment of interest.
• Reduction of the period for which a balance must be outstanding.
• Removal of a specific materiality threshold.
• Use of the Bank of Canada policy rate instead of the Bank of Canada bank rate.

The following documents are related to the release​ of the draft Rule 023:

• Bulletin 2021-17
• Draft AUC Rule 023
• Draft AUC Rule 023 bla​ckline version​​

Documents​