UTILITY DEPOSITS, WHY WE CHARGE THEM
New Customers will be charged a deposit if they cannot provide a letter of reference from another electric, water or gas utility, or a credit report which indicates good references - no late payments - during the last 12 months.
Existing Customers will be charged a deposit if their account is processed for disconnection, is actually disconnected for nonpayment, has two returned checks or receives three warning tags within the last 12 months for residential customers and the last 36 months for commercial customers.
How much will the deposit be?
The Farmington Electric Utility System requires a deposit equal to a two month's bill, based upon the past year's average usage, as a guarantee that the final utility bill, if left unpaid, will be satisfied. Residential deposits are held for 12 months and commercial deposits for 36 months and then are automatically credited with interest to the customer's account as long as the customer maintains a good credit history during the same time period.
Why are deposits required?
Deposits protect the utility and other customers from having to pay the cost of bills left unpaid by other utility customers.
How can you avoid a deposit?
Customers will not be charged a deposit if they pay their current charges on or before the due date printed on the monthly billing statement they receive from the utility. If you receive a "Disconnection Notice" with your utility statement that you think is in error, or if you need to make special arrangements for payment, please immediately call (505) 599-1353 and talk to us.
If you have further questions regarding deposits, please contact us.