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Are deposits ever refunded?

Your security deposit – plus interest – may be refunded upon your request after 12 months of continuous service and a good payment record on residential accounts. If you disconnect your service before your deposit is refunded, the full amount of the deposit and any accrued interest will be applied toward your final bill. Any amount remaining will be refunded to you.

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Related FAQs

Yes, eligible non-residential property owners get a 90-day grace period to connect electric service without a deposit while transitioning a property to a new tenant, as long as the owner is an existing EPB customer in good standing (no disconnect notices, returned checks, or non-pay disconnects). If electric service is needed longer than 90 days, the standard non-residential security deposit policy applies.

Yes. Municipal, county, state, and federal agencies, as well as other utilities, are not required to provide a non-residential security deposit.

The non-residential security deposit is typically set at two times the amount of the highest bill on that business account over the previous 12 months. If you're a new business customer without billing history, or a different type of business is moving into an existing space, the initial non-residential deposit will be based on a fault current sheet from your electrician until at least 6 months of usage history is established.

All non-residential electric customers are required to provide an adequate security deposit on their business electric account to ensure coverage, in line with EPB's electric rules and regulations.

For a non-residential account, you can choose from:

  • Cash deposit – held by EPB and accrues interest per EPB's interest rate policy
  • Indemnity bond – valid for at least one year, in a form acceptable to EPB
  • Irrevocable letter of credit – valid for at least one year, in a form acceptable to EPB
  • EPB Enhanced Security Deposit Program – available to non-residential customers with good payment history, subject to insurance carrier approval

The security deposit on your non-residential account, plus any accrued interest, will first be applied to any unpaid electric bill, and the remaining amount will be refunded to you.

You'll need to provide another acceptable form of security deposit on your non-residential account until the preferred option is finalized. Once the bond, letter of credit, or program approval is received, the alternate deposit will be refunded.

For other questions, get in touch with us

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