Residential Deposits

Our billing and deposit practices promote fairness by ensuring that all customers pay for the electricity they use. Since electricity is billed after it is used, we may require a security deposit to open your account. We may be able to waive the deposit if you pass a credit screening, which is based on your credit report and prior credit history

• A deposit equals two months’ expected electricity use when the home is occupied. For example, if the home’s bill averages $100 per month, the deposit amount would be $200.

 
• Your deposit will be returned with interest after 23 months of prompt payment or when the account is closed.

 
• We pay interest at the rate of 2 percent annually on deposits held for at least six continuous months. The interest will appear yearly as a credit on your June bill.

 
• You may pay your deposit online, in the mail or at a participating pay agent. Cash, checks, and money orders are acceptable forms of payment. Be sure to note your account number with payment.

An alternative to a cash deposit is an Unconditional Guarantee/Guarantor agreement, which is a legal contract involving you and a qualified third party who agrees to provide payment security if you default on payment. You can read more about this option here.