Q&A
- Will I need to pay a security deposit to open an account with London Hydro?
- How much of a security deposit is required?
- When Are Commercial Security Deposits Refunded?
- Can I pay the security deposit with a letter of credit?
- Do you offer energy saving guidance for commercial customers?
- Our company is thinking of building a new facility. Do you provide energy-consulting services?
- Can I get an estimate of my monthly budget billing before I sign up?
- Will I need to pay a security deposit to open an account with London Hydro?
- Will I receive interest on my security deposit?
Will I need to pay a security deposit to open an account with London Hydro?
Yes, London Hydro requires Commercial Security Deposits to be collected on all commercial accounts. You have the option of paying your deposit with cash – for which interest will be paid to you annually – Surety Bonds, or with a Letter of Credit.
How much of a security deposit is required?
If you fall under the interval meter classification, your deposit would be calculated at 2.5 times the maximum monthly bill of the year (for example: 2.5 X July bill if July is your highest consumption in the calendar year). All existing and new customers will be reviewed and requested to submit a security deposit.
When Are Commercial Security Deposits Refunded?
Your Commercial Security Deposit is held for the duration of your account. Deposits are applied to the final bill as a credit against the final amount owing.
Can I pay the security deposit with a letter of credit?
Yes. You can also pay with cash or with surety bonds. If you pay with cash, we will pay you interest annually.
Do you offer energy saving guidance for commercial customers?
Yes. Our Billing Analysis service can help you understand how your bill is calculated and identify your key areas of energy use. You can then use this insight to find ne opportunities to save money. We can also help you identify and correct a variety of plant and equipment problems that can occur in the event of sags, surges or other voltage irregularities.
Our company is thinking of building a new facility. Do you provide energy-consulting services?
Yes. It’s called our New Construction program. Our planning specialists will consult with you at the early planning stages to identify opportunities to help ensure your new facilities are designed to reduce your energy costs over the long-term.
Can I get an estimate of my monthly budget billing before I sign up?
Yes. Call 661-5503 and one of our Customer Service Representatives will give you an estimate on the spot.
Will I need to pay a security deposit to open an account with London Hydro?
Yes. All new residential account requests are required to provide a security deposit. The deposit is calculated as 2.5 times the average monthly residential bill.
Will I receive interest on my security deposit?
If you pay your security deposit by cheque or cash, you will be paid interest once each calendar year. The rate of interest shall be equal to the interest paid on the savings accounts by the bank with which London Hydro conducts the majority of its banking business. Interest shall be paid on all cash deposits held for more than 30 days and credited to your London Hydro account on an annual basis or pro-rated basis on a refund or final reading date.
