All new commercial accounts are eligible for a security deposit. You may need to provide us with a security deposit. Security deposits gain interest every month, and that interest is applied to your account every year on December 31, when the account is finalized, or when the deposit is returned to you. Your security deposit will be added to your account and can be paid along with your regular payments. Read about payment options.
Your deposit will be the total of the two highest monthly amounts of consumption at the property within the last 24 months.
Your deposit can be waived if:
- You sign up for our Pre-authorized Payment Plan (PAPP)*.
- You have a letter of guarantee from a recognized bank or credit union. This letter will need to be renewed on an ongoing basis.
- You have an active personal account with an excellent customer credit rating and sign a Personal Guarantee Form** allowing us to transfer an unpaid balance from your commercial account to your personal account.
The deposit will not be waived on an account that has been disconnected for non-payment.
You will get your deposit back if you keep an excellent customer credit rating (as defined by Manitoba Hydro) and have not gone into 60-day arrears in a five-year period. If you have filed for bankruptcy or creditor protection, your deposit will be held indefinitely.
*If one payment is missed on PAPP you will be removed and charged the deposit.
**To be eligible for a Personal Guarantee you must have an active personal account with an excellent customer credit rating; if your personal account closes, the deposit will be applied to your commercial account.