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E. Security Deposits


Rate Schedules and Policies Manual

E. Security Deposits

RSP E-1

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Residential:

A security deposit may be required as a condition of service.

If a security deposit is required, NB Power will determine when the payment must be made:

  • before service is provided, or
  • on the due date of the first bill.

A security deposit is not required from Customers:

  • who have a satisfactory payment history on another NB Power Account in their name, or
  • who supply a credit reference from another electric utility, or
  • who consent to a credit check and the results are satisfactory to NB Power.

Large Industrial:

A security deposit may be required if the customer has an unsatisfactory payment history with NB Power.

Other Rate Categories:

All new General Service, Small Industrial, streetlight, area light, unmetered and rental service Customers may be required to pay a security deposit as a condition of service except:

  • municipal, provincial or federal government agencies;
  • local service districts;
  • publicly owned schools and hospitals;
  • existing General Service and Industrial Customers with satisfactory credit history with NB Power who require a service connection at another location.

Deposit
Requirements

Security deposits may be in the form of cash, letters of guarantee from Chartered Canadian Banks or Trust Companies, bearer bonds guaranteed by either the Government of Canada or the Province of New Brunswick, or surety bonds issued by duly authorized companies.

Forms of
Deposits

The amount of security deposit for all Applicants/Customers is the greater of two average operating months' estimated billing or $100.

Deposit
Amount

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disclaimer | NB Power - RSP 8 September 2009