Interest on deposits shall be set annually at a rate equal to the federal five-year treasury note rate as reported on the first day of the calendar year by the federal reserve board of governors and shall be paid on any deposit required of a consumer by any public utility as defined in Section 62-3-3 N.M. Stat. Ann. or by any telephone company as defined in Section 63-9-2 N.M. Stat. Ann. or by any waterworks organized under N.M. Stat. Ann. Chapter 62, Article 2.