Security deposits may apply if you are unable to establish satisfactory credit, as noted in the
Start, Stop or Transfer Service.
There are several options that can be used instead of paying the initial deposit if needed. These include:
Written Letter of Guarantee
Instead of paying the deposit, you may furnish
El Paso Electric (EPE) with a satisfactory written letter of guarantee. You can do this by getting a qualified co-signer to guarantee in writing the payment of your bill up to the amount of your deposit. This co-signer will be liable for up to the amount of the deposit only. Guarantee forms are available at EPE's offices and must be notarized. The letter of guarantee will remain in effect until you have paid twelve (12) consecutive bills without having had more than two (2) delinquencies and without having had service disconnected for non-payment. Once these refund criteria are met, EPE will void and return the letter of guarantee or provide written documentation that the letter of guarantee has been voided.
Please contact EPE in Texas at (915) 543-5970
and in New Mexico at (575) 526-5555 or toll free
at 1-800-351-1621 to assist you in this process.
Paying Outstanding Balances on Your Account
If you are an existing customer, you will not be required to pay an initial deposit unless you were late paying a bill more than once during the last twelve (12) months of service or had service disconnected for nonpayment. EPE may require you to pay this deposit within ten (10) days after the issuance of a written disconnection notice that requests such deposit. Instead of the initial deposit, you may pay the outstanding balance on the current bill by the due date, provided that you have only used this option in the previous twelve (12) months.
EPE is entitled to impose an additional deposit on existing accounts if the average of your actual billings for the last twelve (12) months is at least twice the amount of the estimated annual billings and a disconnection notice has been issued on your account in the previous twelve (12) months. The additional deposit must be paid within ten (10) days after a disconnection notice is sent to you requesting the additional deposit. Instead of paying the additional deposit, you have the option of paying the outstanding balance of the current bill by the due date, provided that you have not used this option in the previous twelve (12) months.
If You are Required to Pay a Deposit
The deposit will be one sixth (two months)
of the estimated annual billing from previous documented history of an account at the premises. The deposit must be paid before the service is activated. All deposits earn interest at an annual rate as established by the Commission. Please call EPE in Texas at
(915) 543-5970, in New Mexico at (575) 526-5555 or toll free at 1-800-351-1621 for the current annual rate.
Rules and Uses of Security Deposits
After one (1) year from the date you start service, if there have been no more than two (2) delinquent bills, service has not been disconnected for nonpayment, and you are not delinquent on your current bill, the deposit and interest will be refunded to you promptly. If you do not meet the criteria for the deposit refund, the accrued interest will automatically be applied to the account balance on the last working day of the year. If you request disconnection of service at one address and request service at another address within our service territory, your deposit may be transferred. If you request disconnection of service only, your deposit will be applied to your final bill and any remainder will be refunded promptly. Otherwise, the deposit will be held and will continue to draw interest. If a deposit is refunded within 30 days of the date of the deposit, no interest is required. If EPE keeps the deposit more than 30 days, payment of interest will be made retroactive to the date of the deposit. You may request that interest on your deposit be refunded to you annually.
If you have more questions about security deposits, please contact our
Customer Service Department.