Deposits and Connection Fees
Do I have to pay a deposit?
Whether you have to pay a deposit depends on:
- your payment record, if you have had service with MTEMC within the last 12 months and did not have a deposit previously;
- your credit evaluation through ONLINE Utility Exchange, if you have not previously had service with us.
- will be required before service is connected;
- will be up to $300;
- may be paid in person at a MTEMC office or over the phone by speaking to one of our service representatives;
- may be paid with cash, money order, personal check or credit/debit card.
(Concerned about your credit rating? Contact ONLINE Utility Exchange directly at 1-800-765-8268.)
If I move, do I have to pay another deposit?
We will transfer your deposit to your new account if:
- you move to another residence we serve, and;
- you have no outstanding balance.
You will be charged a initiation fee each time you move.
What if I need to change the name on my account?
No charge if the name on the account must be changed due to the death of a spouse (a death certificate will be required).
You will be charged a new membership fee and initiation fee if:
- the name change requires opening a new account under a new name and Social Security number.
A new deposit may also be required.
When do I get my deposit back?
- your deposit will be applied to your final bill. If a refund is still due, a check will be mailed to you at your forwarding address.
Why do I have to pay connection and membership fees?
The $40 initiation fee and a $5 membership fee covers costs for:
- setting up your account;
- the trip to your residence to record a beginning reading for billing;
- if the residence is a brand new service installation, a $75 charge will be required to set a new meter.
Why does MTEMC charge deposits?
MTEMC charges deposits to protect the cooperative?s members from having to pay the cost of bills left unpaid by other cooperative members. This is a persistent dilemma for the cooperative, as some members leave the system every month with thousands of dollars of bad debt.
Why does MTEMC charge up to $300 for a residential deposit?
Nationally, it is standard utility best practice to set deposits based on an average of two-and-a-half months of usage. For MTEMC, the average residential bill is about $150. So, by doing the math, you can see the $300 is actually less than that average. Most residential members leaving the cooperative with bad debt would owe for at least two-and-a-half months.
- What's a "basic service"? and other questions about how to read your bill
- Deposits and Connection Fees
- Billing and Disconnection
- MTEMC Fees
- Tree Pruning
- TVA Fuel Cost Adjustment
- Philosophy regarding underground service
- Electric safety at home
- What's a co-op?
- Power Outages
- Electric Vehicles
- How to Read Your Electric Meter
- Green Power Switch