Security Deposits are charged for new accounts. For complete details, please contact Customer Accounts at 343-1111 or read our Policy for Security Deposits.
We will waive Security Deposits for residential customers provided:
A good payment history includes:
Your Security Deposit earns interest at a rate of 2% less than the Bank of Canada's prime business rate (updated quarterly). The interest is credited to your account at least once every 12 months or on return of your security deposit or upon closure of your account, whichever comes first.
Your security deposit is reviewed after one year of full payment history. Based on this review, your deposit amount is re-calculated based on your past year's bills. If the amount of the deposit is to be adjusted upward, the adjustment will be applied to your hydro bill and your deposit held for another year. If no adjustment is required and you have a good payment history, the deposit will be credited back to you on your hydro bill.