Are you a Residential Member?
GVEA does not require a deposit to initiate residential service if any one of the following criteria are met:
- A letter from the utility which last provided comparable service, stating the member meets GVEA’s requirements for good payment history
- Returning or current members who have established a good payment history with the Association within the last two years.
- Members who meet the credit history requirements to qualify for a waiver of Deposit based on their energy risk assessment score.
What is Good Payment History?
Good payment history is established after 12 continuous months of service, at the same location, with no more than two past due payments. One delinquency is allowed, but it may not occur during the most recent six months. The service must have been provided in the past two years. The account must also be current at the time it is reviewed for good-payment status, and any other accounts in the same name must also have a good payment history. Once you have a good payment history, your account deposit will appear as a credit on your bill with interest.
If you do not meet any of these above criteria, a refundable account deposit will be required for each meter activated. This amount is determined by your credit rating and the electric use consumed at the service location within the last rolling 12 month period.
- The minimum deposit is a fixed amount equal to the Association’s currently used estimate of an average residential bill for a single month. The association may adjust the minimum deposit amount based on an annual review of the average monthly bill, but the minimum deposit will always correspond to a single month’s bill ($120.00)’ (Tariff Sheet No. 31)
- The maximum deposit will not exceed twice the average monthly bill at that location or two times the average bill for that class of service, whichever is applicable.
- If your account becomes delinquent (41 days passed the bill date), you may be required to post a deposit. Failure to pay a deposit when required could result in disconnection of service.
Are you a Business Member?
All NEW GVEA Business Members will be required to pay a minimum deposit per meter to initiate electric service OR provide a letter of credit from a previous utility with at least 12 months of service history and occurred within the last 2 years.
All active GVEA Business Members will be subject to the deposit requirements based on their current electric payment history.
When will I get my deposit back?
Your deposit, plus any accrued interest, will appear as a credit on your bill after you establish a good payment history or terminate electric service.