Do I have to pay a deposit when I open a new account?
A security deposit is required for the following situations:
- A new customer has no credit history with BC Hydro
- We cannot conduct an Equifax credit check
- An Equifax check shows a credit risk
- The customer cannot provide a reference letter from another utility
The amount of the deposit is based on:
- The customer's billing plan
- Two or three times the estimated average monthly bill
- Average monthly bills of similar dwellings where no historical consumption exists
How to pay your security deposit
The security deposit is due within 10 days. In some cases, we’ll ask for a deposit before we open an account. There are a number of ways to pay.
Your deposit will be credited to your account after one year of on-time bill payments.
Waive or reverse a security deposit
In some cases, security deposits may be waived or reversed if a credit reference letter is provided or a credit bureau check is passed. The credit reference must be from another utility company (electric or gas, telephone, cellular or cable) that confirms you have made on-time bill payments for 12 consecutive months. Our credit and collections team reviews all references to determine if the security deposit can be reversed. Scan your reference letter and email us with “Credit reference letter” in the subject line. Please include your account number and address in the email.
For security deposit help, have your BC Hydro account number handy and call 604 224 9376 or 1 800 224 9376.
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