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Credit Policy
Customer Security Deposit Policy
All new customer accounts will be reviewed to determine whether a security billing deposit is required.
Sufficient identification is also required when applying for service.
Sufficient identification for residential customers is defined as: The provision of a valid social insurance
number or two pieces of personal identification, one of which must contain a photograph and signature of the
applicant. Acceptable pieces shall be: birth certificate driver's license, social insurance number card, major
credit card, automobile ownership, debit card, passport, or similar type documents.
Sufficient identification for general service accounts is defined as: The completion of the Credit Information
Form provided by Brantford Power Inc. - (see appendix A sample form)
As customers switch to competitive retailers, and depending on the billing options, the amount of exposure for
Brantford Power Inc. will vary and therefore the security deposit amount should be adjusted to reflect the new
level of exposure.
The following policy shall apply for each billing option:
- Retailer-consolidated Billing
Under this option, Brantford Power Inc. will not issue a bill to a customer. The retailer is responsible for
issuing the bill to the customer and for customer non-payment risk. Brantford Power Inc. would not require a
security deposit from the customer.
If we are in possession of a customer's deposit at the time of a switch to retailer-consolidated billing, the
deposit shall be applied to the final bill and any excess returned to the customer.
- Distributer-consolidated Billing
Under this option, Brantford Power Inc. will issue a bill to the customer. Brantford Power Inc. is responsible
for customer non-payment risk. We may impose an amount of security deposit depending upon our assessment of
the customer's likely risk of non-payment as per the requirements below.
- Split Billing
Under this option, Brantford Power Inc. and a retailer shall each be responsible for customer non -payment
risk for the bills that each issues to the customer. If a customer already has a deposit with Brantford
Power Inc., we will retain a portion of the deposit amount that reflects the non-payment risk associated
with the new billing option. Any excess deposit amount will be returned to the customer. For customers
making new application for service, we may impose an amount of security deposit depending upon our
assessment of the customer's likely risk of non-payment as per the attached requirements below.
- Standard Supply Service
Under this option, Brantford Power Inc. will continue to issue a bill to the customer. Brantford Power
Inc. is responsible for customer non-payment risk. We may impose an amount of security deposit depending
upon our assessment of the customer's likely risk of non-payment as per the requirements below.
Security Deposit Requirements
Residential Customers - Owners and Tenants
Residential Customers will be required to pay a security deposit equal to an average two month billing
at the address being serviced, as estimated by Brantford Power, or an average 1 month billing if the
customer is enrolled in the Automatic Payment Plan. A minimum of $200.00 deposit will be required
for Distributor-Consolidated Billing and Standard Supply and $100.00 for Split Billing.
A cash deposit will be waived subject to:
- Satisfactory payment record at Brantford Power Inc.
- Proof of satisfactory payment record with another utility for two or more years will be accepted
in lieu of a deposit.
- A credit check satisfactory to the utility. The cost of such a credit check, as revised from time
to time, shall be billed to the customer.
Satisfactory Payment Record is defined as follows:
The applicant or customer does not owe arrears to Brantford Power Inc.
And
The customer has previously been on service with Brantford Power during which period, they have
had no more than one (1) NSF cheque or no more than one (1) collection notice or reconnection
charge over the last twelve (12) months of continuous service.
Or
The applicant has been serviced by another utility within the previous 2 years and has furnished
a letter from the utility indicating no more that 1 NSF cheque or no more than 1 collection visit
or reconnection charge over the last twelve month period of continuous service.
Security deposits may be adjusted, based on actual billing history, after twelve consecutive months.
If a satisfactory payment record cannot be maintained, a cash deposit will be required.
Cash deposits will be returned upon:
- The establishment of a one-year satisfactory payment record.
- A customer switching to retailer-consolidated billing.
- Termination of service.
Interest on cash deposits will be credited to the customer's account monthly. The interest paid
will be at a rate equal to the utility's bank prime rate minus 3.5 percent, reviewed at least
annually.
Failure to meet any condition in this policy will result in service disconnection until the
condition is met to the satisfaction of Brantford Power Inc.
General Service Customers - Owners and Tenants
Deposits will be required from all new general service accounts in the form of cash or an
irrevocable letter of credit based on an estimated two-month billing, or an average 1 month
billing if the customer is enrolled in the Automatic Payment Plan.
For new services where no usage history is available, deposits will be required based on a
per AMP/Phase as follows:
| Single Phase |
$ 5.00 per AMP |
| 3 Phase 120/208 Volt |
$10.00 per AMP |
| 3 Phase 347/600 Volt |
$15.00 per AMP |
Existing General Service customers will be required to pay a security deposit if they have
an unsatisfactory payment record as determined by Brantford Power Inc.
- Unsatisfactory payment record includes such items as more than one (1) NSF cheque or
more that one (1) collection notice or reconnection charge over the last twelve(12) months
of continuous service.
- Existing General Service customers are required to maintain their deposits.
- Security deposits may be adjusted, based on actual billing history, after twelve consecutive months.
- Federal, Provincial or Municipal Government operations will be exempt from deposit requirements.
- Deposits will be returned upon:
- A customer switching to retailer-consolidated billing.
- Termination of services.
Interest on cash deposits will be credited to the customer's account monthly. The interest paid
will be at a rate equal to the utility's bank prime rate minus 3.5 percent, reviewed at least annually.
Failure to meet any condition in this policy will result in service disconnection until the condition
is met to the satisfaction of Brantford Power Inc.
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