FAQs About Security Deposits

Security Deposits for Business Customers

In what circumstances may a security deposit be required?

A security deposit may be required if:

• You are a new customer.
• You have not paid your entire bill or payment plan amount by the due date should the required payment include a previous balance.
• You have unpaid final balances from past accounts.
• You have not established a good credit history and have more than one disconnection notice for nonpayment within the past 12 months.
• You had service shut off for nonpayment.
• You are in bankruptcy.
• You have been involved with unauthorized usage of gas, theft of service or meter tampering.
   

How is the amount of the security deposit calculated?

The amount of the security deposit is calculated at 1.3 times the Budget amount for the property.
 

Will the security deposit be billed?

Yes. Security deposits are billed in three, equal, consecutive monthly installments.
 

When will I get my security deposit back?

The security deposit will be reviewed for refund after two years of timely, in-full, consecutive payments. A 3% rate of interest is paid if the full security deposit is held for 180 days or longer.
 

What options are there to avoid paying a cash security deposit?

As an alternative to paying a cash security deposit, a business customer may:

• Submit a Surety Bond to Dominion.  
• Provide an Irrevocable Letter of Credit.