Residential Deposits – Homeowners
Residential deposits are based on 2 times the average electric bill for the location requested. Homeowners may satisfy the deposit requirement by paying the deposit, providing a letter of credit from their current electric provider, or completing an online credit check. Customers who chose prepaid metering at their previous electric provider are not eligible to use a letter of credit. For new homes with no usage history, the deposit is calculated based on the home’s square footage. Residential deposits are automatically refunded after three years of service if the account has a good payment history (fewer than two late payments). The refund is applied directly to the customer’s bill.
Residential Deposits – Renters / Leasers
Renters and leasers are also required to provide a deposit equal to 2 times the average bill for the location requested. New customers may either pay the deposit or provide a letter of credit from their current electric provider. If there is no prior usage history (such as a new home), the deposit is calculated using square footage. Customers who chose prepaid metering at their previous electric provider are not eligible to use a letter of credit. Residential deposit refunds follow the same policy as homeowners and are issued after three years of good payment history. The refund is applied directly to the customer’s bill.
Commercial Deposits
Commercial deposits are calculated at 2 times the average monthly bill for the location requested. Commercial customers may satisfy the deposit requirement by paying cash, providing an irrevocable letter of credit, or submitting a surety bond. Commercial deposits are held for the duration of service and are refunded when the account is disconnected, and all final charges are paid. If there is no prior usage history (such as a new build), the deposit is calculated by square footage.