(A) Applicable to residential customers. The utility may require from a residential applicant or customer, at any time prior to or after the commencement of service, a service deposit of not less than $100 to guarantee the payment of rates and charges for service.
(B) Applicable to commercial and industrial customers.
(1) The utility may require from any applicant or customer, as a guarantee against the nonpayment of bills, a cash deposit equal to the amount payable for service for a 60-day period, as estimated by the utility, but not less than $50 for commercial and $100 for industrial. In all cases, where the monthly amount payable is in excess of that covered by the deposit, the utility may increase the amount of deposit required, but such deposit shall not exceed the estimated amount payable for a 60-day period.
(2) Any customer who has failed to pay all charges for service rendered within the specified payment period may be required, upon five days’ written notice, to make a cash deposit in the amount equal to an estimated charge for four billing periods for the premises served. If such cash deposit is not made within the five-day period, disconnection may be made.
(3) The town may, but shall not be required to, apply the customer’s deposit to the payment of electric bills or any other charge.
(4) The deposit, where chargeable, shall be applied against the final bill when service has been terminated. Any outstanding credit balance shall be refunded to the customer, and any outstanding debit balance shall be billed to the customer.
(5) Any deposit made by the customer (less any lawful deductions) which has remained unclaimed for seven years after the town has made diligent efforts to locate the person who made such deposit, or the heirs of such person, shall be presumed to be abandoned and treated in accordance with the laws of the state.
(Ord. 14-2017, passed 10-10-2017; Ord. 9-2020, passed 8-24-2020)