![]() Equal payment plansĮlectricity utilities must offer you the option to join what is called an equal monthly payment plan. Interest is paid once every 12 months if the deposit is retained. They must also pay interest on the deposit, which is calculated at the Bank of Canada’s prime business rate less 2%. If you move or close your account with an electricity provider, they have up to 6 weeks to return your deposit, but they also have the right to use the security deposit to offset any other amounts that you owe. Residential customers with 1 year of good payment history will have their deposits returned. Small business customers with 3 years of good payment history will have their deposits returned. Small business customers have at least 4 months to pay the deposit in equal instalments. Residential customers have at least 6 months to pay the deposit in equal instalments. If your electricity usage goes up, the electricity provider can ask for an additional security deposit as long as it does not go over the maximum amount. If you do not have a history with the electricity provider, they can use a reasonable estimate - like the average bills from the residence you are moving into - to calculate the deposit. The maximum deposit amount an electricity provider can ask for is 2.5 times your average monthly bill. Note: Electricity providers are required to waive the security deposit requirement for eligible low-income customers upon request.ĭeposits are calculated using your recent electricity bills. If you chose to enroll in a pre-authorized payment plan and/or an equal payment plan in place of a security deposit, and within 1 year you have terminated the plan(s) or been cancelled for non-payment.You have had your deposit applied to outstanding debt and must pay it back.You have been subject to a collect trip.You have been disconnected over the past year.You have failed to pay more than 1 pre-authorized payment.You have received more than 1 disconnection notice over the past year.You choose not to enroll in a pre-authorized payment plan and/or an equal payment plan as offered by the electricity provider.You cannot show the utility a satisfactory credit record (at your expense).You cannot demonstrate good payment history with another electricity or natural gas utility in Canada.This chart shows who is required to pay a security deposit. And in doing so, they help maintain a financially viable energy sector, where customers receive a reliable supply of electricity at a reasonable cost. They reduce the amount of bad debt your local utility is exposed to. Think of security deposits as a kind of protection. An electricity provider can disconnect your service or refuse to connect you if the deposit is not paid. If your electricity provider asks you for a deposit, you do not have a choice about paying it. There is a fee associated with credit card payments.Electricity providers may ask certain customers for a security deposit. If you prefer to pay with a credit card, please use the “Quick Payment Options” link in the Customer Portal. To pay your e-Bill without a convenience fee, you must pay by check, also known as ACH, or an electronic check. Each quarter, you will receive an email notification when your new bill is available for viewing. The program allows customers to receive their bills electronically. Don't have a My WSSC Water account yet? Just click the link below to create one.Į-Bill is WSSC Water’s initiative to become more environmentally friendly through electronic or paperless billing. You can pay online using your " My WSSC Water" account or, if you prefer, through your personal online banking account. No more statements that arrive in the mail you'll receive an email notification when your bill is ready to view and pay. When you receive and pay your bill online, it's fast, it's free, and you won't spend money on postage. ![]()
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