How Much Is A Deposit For Water

Residential security deposits

Overview

In accordance with the Utilities Kingston terms of service and Kingston Hydro atmospheric condition of service , residential accounts are required to provide a security deposit. Your eolith for residential service volition commence on your first bill. The deposit volition include the post-obit services: electricity, water and gas.

If you lot have any questions, please call customer service at 613-546-0000, Monday to Fri, from 8 AM to v PM.

Utility providers often inquire new customers for a security deposit. They are a kind of protection and reduce the amount of bad debt your local utility is exposed to. And in doing so, they assistance maintain a financially viable utility sector, where customers receive a reliable supply of water, gas or electricity at a reasonable cost.

Method

Security deposits appear on your billing argument and can be paid the same way you pay your invoice. View our payment options.

Assessment

A security deposit is assessed 1) for new customers, and 2) when a customer does not demonstrate proficient payment history.

Exemptions

Customers may be exempt under the following conditions:

For electricity:

Demonstrates a continuous 1-year (12-month) good payment history (i-year good payment history had to occur within the last 24 months) with a gas or electricity utility in Canada. Customers must provide a letter of reference from the utility company.
At the client's expense, provides an external credit check from a credit bureau that demonstrates a FICO score of 700 or greater. Credit records are only accustomed when payment history cannot be provided.
Is a qualified low-income customer, receiving help from the Low Income Emergency Assistance Plan (Jump) or Ontario Electricity Support Program (OESP).
New customers that enrol in our pre-authorized payment plan will take their security deposit waived. (New customers are those who accept not had service with us in the by 24 months.)

Customers accept 10 business concern days to produce the documentation for an exemption. When 10 business days accept passed without receiving the documentation, the application will be completed including deposits to the account.

For h2o and gas:

Demonstrates a continuous one-yr (12-month) expert payment history (i-year proficient payment history had to occur within the last 24 months) with Utilities Kingston.
Is the property owner.
New customers that enrol in our pre-authorized payment plan volition have their security eolith waived. (New customers are those who have non had service with us in the by 24 months.)

Customers have 10 business days to produce the documentation for an exemption. When x business days have passed without receiving the documentation, the application will be completed including deposits to the account.

To maintain exemption condition, your account must maintain good payment history.

Calculation

Deposits for monthly billed customers are calculated equally follows:

For electricity, water and gas, the maximum amount of the required security eolith volition be based on ii.5 times the average monthly bill for that service address during the most recent 12 months inside the by 2 years.
In circumstances where valid or appropriate consumption history is not available, we will approximate the average consumption using data from similar properties (for electricity) or accuse a flat charge per unit of $250 per service (for water and gas).

Installments

The deposit shall be paid in half-dozen equal amounts over 6 bills (applied in one case per month). A customer may, at its discretion, cull to pay the security deposit over a shorter period of time.

Deposit return process

An electricity security deposit will exist held by Utilities Kingston and applied to the business relationship when facing a potential disruption in service due to non-payment.
Water and gas security deposits shall not constitute payment of an outstanding business relationship, in whole or in part.
Electricity security deposits will be reviewed annually. Customers with good payment history will be refunded the security deposit as a credit on their account.
Utilities Kingston will return whatsoever remaining security eolith within six weeks of the closure of an business relationship, subject to our right to use the security eolith to set up off other amounts owing to Kingston Hydro or Utilities Kingston.

Interest on paid security deposits

Involvement shall accumulate monthly on paid security deposits. The involvement rate shall be at the prime concern charge per unit as published on the Bank of Canada website, less 2 per cent, updated quarterly.

Utilities Kingston will pay out the interest by crediting the customer's account on the earlier of: