As security for the payment of electric bills, a deposit must be made which is equal to the average 12 month billing, times two. Such deposit shall be based upon the experience of the previous tenant unless the customer can demonstrate to the Electric Department the proposed use of the facility is substantially different from that of the previous tenant. In the case of a new facility, the Electric Department or Utility Billing will establish a deposit based upon a survey of the facility and an assessment of its intended use. Such deposit is payable in full prior to connection. Additionally, the City reserves the right to require additional deposits if a customer's payment record and/or consumption experiences reflect that a higher deposit is necessary to protect the interest of the City.
Satisfactory residential credit can be used to waive deposit on Professional/ Commercial/Industrial account. Deposits for second or third business may be waived if good credit exists on a City located business and the owner agrees to allow recourse against an existing business in case of non-payment. Also, a security bond or an irrevocable letter of credit from a lending organization will be accepted in lieu of such deposit.
Contact Utility Billing for more details on deposits and rates at 276-403-5146.