Security Deposit

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The Customer shall be charged a security deposit in an amount that is equal to the total two (2) month's average billings based on an average of six (6) most recent actual months operating bills, where there is a previous history of usage by the Customer or a history of usage at the premises, or an amount equal to two (2) month's estimated billing based on an estimate of the Customer's KWH where there is no billing history. No Customer shall pay a security deposit of less than $100.00 ($150.00) for Commercial Customers).

The entire amount required as a security deposit must he paid in advance for new Customers. At the discretion of the Authority, the deposit may be included in the first month's bill. In the case of a large power customer, the Authority at its option, may accept the equivalent of one month's bill and the remainder of the deposit paid in installments.

Customers in good standing may request a transfer of their security deposit from an old account to a new account. Any outstanding balances remaining on the old account after the transfer of the deposit shall also be transferred to the new account and the now account may be subject to disconnection for non-payment after a ten (10) day written notice to pay the past due amount.

 

Changes in Security

Increased or Decreased Billings

If the Customer's billings for electric service increases significantly, the Authority, upon thirty (30) days advance notice, citing the reasons warranting an increase in the security deposit, may require that the Customer increase the amount of deposit on the account equal to not more than two (2) months' actual average increased billing for electric service in the past 12 months. A Customer with a demonstrated record of timely payments for twelve months shall be exempt from any such increases. If the Customer's billing for electric service decreases significantly the Authority shall reduce the amount of the deposit to not more than two months' average actual billings in the past 12 months, or to a minimum of $100.00 in the case of a residential Customer and $150.00 in the case of a commercial Customer.