Security Deposits

When North Central receives a request for electric service, a security deposit is collected for each service requested. The security deposit must be paid in full before service is put into the customer’s name and before power is turned on. The security deposit amount will be determined by the use of a credit check provided by a credit service - ONLINE Utility Exchange (an independent utility credit risk advisory service). When a request for electric service is made our Customer Service Representatives will ask for the following information to complete a credit check:

• Name
• Address
• Phone number
• Social Security Number

The results of the credit check determined by the credit service ONLINE Utility Exchange will determine the credit risk as shown below and these results will then govern how North Central will calculate the security deposit amount.

• High credit risk
• Medium credit risk
• Good credit – no security deposit is required

High Credit Risk

High credit risk the following security deposit will be applicable:

*Two (2) times the highest of the 12 previous monthly billings or annual billings or the amount indicated in the following table whichever is higher.

Medium Credit Risk

Medium Credit Risk the following security deposit will be applicable:

*One and half (1 1/2) times the highest of the 12 previous monthly or annual billings or the amount indicated in the following table whichever is higher.

Good Credit

Good credit - no security deposit is required.

Security Deposit Refund – North Central may refund or apply the security deposit to the customer’s account following the completion of 18 months of service with satisfactory payment history. If a customer discontinues service the security deposit will be refunded, provided the account is paid in full, otherwise the deposit may first be applied to the account to cover any remaining balance. The balance of the security deposit, if any will be refunded to the customer.