2. DEPOSITS

A deposit or suitable guarantee for each account will be required of a customer before electric service is supplied. Deposits on all residential customer accounts will be Three Hundred Dollars ($300.00). This amount is based on the average of usage of all customers in this rate class. All other rate class deposits will be based on the average of 12 months usage, if available. If not available, information from a load sheet provided by BCES, will be used to calculate a deposit. No deposit will exceed twice the highest monthly bill. BCES reserves the right to evaluate customer accounts from time to time to either raise or lower deposits to comply with the formula, not to exceed twice the highest monthly bill. The above deposits are based on traditional service and does not apply to Pay As You Go customers. The deposit balance including earned interest for both residential and all other customers will be accounted for in order to credit the customer’s account and is subject to review by the customer and Benton County Electric System. If a customer has an old deposit and relocates to another location in Benton County, the customer can retain his original deposit.

Interest will be applied to the customer’s account based on the interest rate that BCES receives on its passbook savings account with a local bank. Interest is figured, accrued and applied to the customer’s account at the end of each calendar year, unless service is discontinued, at which time the interest is applied and refunded with the final bill.

Upon termination of service, the deposit plus earned interest will be applied by the Benton County Electric System against any unpaid bills of the customer and if any balance remains after such application is made, said balance will be refunded to customer.

            Any non-residential customer that has electrical service provided for less than 14 days, the deposit may be waived, if they have active service elsewhere in the county.

            This policy is an amendment to the Schedule of Rules and Regulations, Item #2, in the Power Contract between TVA and Benton County Electric System.

Adopted: 8-25-98 (effective 9-1-98)
Revised: June 28.2011, Effective 7-12-2011              

Revised: August 26, 2014

Revised: September 22, 2015 (Effective 10-1-2015)