held at least six months.  The interest was paid at the time the deposit was refunded or alternatively, if the customer requested, annually.  The manner of the refund, either by cash, check, or an offset against the customer's electric bill, was determined by the customer.


4
The 1976 amendments were largely designed to minimize the arbitrariness that was perceived to exist under the prior rules.  Under the revised rules, IPL was required to evaluate the creditworthiness of all new residential applicants and existing residential customers.  IPL required deposits from those new customers who failed the credit test furnished by PSCI and also from existing customers who had a history of late payment.  Commercial customers continued to be evaluated on a case-by-case basis.


5
Under the amended rules,IPL refunded a customer's deposit if the customer paid his or her electric bill on a timely basis for nine straight months or for ten out of twelve months (as long as the two delinquent months were not consecutive).  Alternatively, the customer could obtain a refund by later satisfying the credit test.  Deposits refunded on either of these two grounds were made in cash or by check, unless the customer requested that the amount of the deposit be offset against his or her bill.  On the other hand, refunds resulting from the termination of service were generally made by offsetting the deposit amount against the customer's final electric bill, unless the customer specifically requested otherwise.  Customers whose deposits were held by IPL for at