When you open an electricity account with us, you may need to provide us with a security deposit.
A security deposit may be requested if you have:
- An outstanding debt on an Ergon Energy Retail electricity account
- Insufficient or no credit history as a business entity
If you're a small business with electricity usage less than 100MWh per year, a record of previous payments to other utilities or service providers may help.
For businesses with electricity usage greater than 100MWh per year, we'll conduct a credit assessment to determine if a security deposit is required.
When you're opening an account with us, tell us about your situation and we'll let you know the options available.
Providing credit history information
Small businesses may be able to use previous payments from other utilities or service providers to show proof of credit history.
You have the option to provide us with one of the following:
- 24 months of consecutive bills from another utility or service provider and evidence that you've paid each bill in full by the due date
- A credit reference letter from another electricity retailer
- Your final bill from your previous electricity retailer that includes a credit reference
Other utilities or service providers may include electricity, gas, water, rates, telephone or internet service retailers and councils.
Your history must be within the past two years and represent a similar or greater value to what you'd expect to pay for your electricity bill.
You also have the option to provide a bank guarantee to cover your security deposit. If you'd like to arrange this, please contact us for details.
Returning your security deposit
For our small business customers, we'll return your security deposit, and any accrued interest, after you have completed two years by paying your bills in full by the due date.
Otherwise, we'll credit your final bill when you finalise your account with us.
Security deposits held for large customers will be refunded when the account is finalised.