Telecom Service Deposits Policy
ELECTRIC PLANT BOARD RUSSELLVILLE, KY
APPLICATION FOR SERVICE POLICY
Our Policy
The Electric Plant Board’s application for service policy is designed to insure that the Electric Plant Board has proper and adequate information to identify customers who are requesting service from the EPB at the time service is requested. The information obtained at time of request for service is used by the EPB to identify customers in the future who request information concerning their account and to prevent the disclosing of information that could be used to steal customers’ identity. The application for service policy will be applied without regard of race, color, creed, sex, national origin or marital status.
Security Deposit
Every applicant for non-residential service will be required to provide a security deposit not to exceed two (2) times the average usage for a twelve-month period for each location where service is requested. Where no billing history is available for location, determinants such as customer class, and demand and energy loading will be used to establish deposit requirements. The deposit may be in the form of cash, surety bond, an Irrevocable Letter of Credit from a local bank, or other forms acceptable to the Electric Plant Board. The EPB may waive a security deposit for service when the applicant has other service established with the EPB and the account is in good standing. An account is considered in good standing with an EPB system rating of “EXCELLENT” which means that the account has not been penalized for late payment, EPB has not initiated steps to discontinue service due to non-payment or has not had a payment (check or automatic draft) rejected by the financial institution due to, but not limited to, a closed account or insufficient funds.
Interest on Deposit
All deposits greater than one month’s average bill and retained longer than twelve months shall accrue interest at the current rate authorized by the Board, which shall not be less than the interest earned on LPC’s primary bank account. Interest will be calculated using a simple interest rate and will not be compounded. Interest will accrue annually on a deposit and will be paid when the deposit is refunded or applied to the customer’s account. The deposit balance including earned interest is subject to review by customer and LPC.
Applicants for residential service will be charged a security deposit based on the Electric Plant Board’s Residential Deposit Policy.
Connection Fees
The Electric Plant Board may charge a connection fee to cover the cost of turning on service. The connection fee will be applied without regard of race, color, creed, sex, national origin or marital status.
Approved by the Board 04/13/ 2017