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A security deposit is required until your payment history shows that for one year of service, you have not been past due in payment more than twice and have not had more than one payment delinquency. A deposit of not more than two months estimated average monthly bill for your service location or the average monthly bill of the customer class will be required.
You can provide a letter of credit from the electric utility which last provided comparable service, stating that you had a good credit rating. If the letter of credit cannot be provided at the time of the application for service, a deposit will be required until a favorable letter is received. The deposit will then be applied to your account.
A security deposit may be waived if you have established service with AEL&P during the past two years, do not currently have a deposit on an existing account and have not been delinquent in payment during the last 12 months.
If your account is subject to a Notice of Scheduled Disconnection, your account will be assessed an additional deposit, not to exceed the maximum deposit allowed. The deposit will be due immediately as a condition of continued service.
The deposit, and any accrued interest, will be credited to your account if the above requirements for good credit are met and your account is not past due at the time of review. Should you close your account, your deposit will be applied to your final bill. If you are to receive a refund, it shall be paid within 30 days of closing your account. If you are transferring service to a new location, the deposit may be transferable.