Under what circumstances may Hydro‑Québec require a deposit?

There are two cases in which Hydro‑Québec can request a deposit:

  1. You are requesting a new service contract, and:
    • You are not already a customer, or
    • You were in default for one of your contracts within the 24 months preceding the request for a deposit.
  2. You already have a service contract, and:
    • You were in default for one of your contracts within the 24 months preceding the request for a deposit.
    • Your contracts are considered risky or very risky and you have been billed over $500,000 within the last 24 months for all of your contracts for non-domestic use.

How to make your deposit

You can make a cash deposit or provide us with an irrevocable letter of guarantee. Contact your financial institution to learn about the charges and conditions associated with such a letter.

How much will the deposit be?

The amount of the deposit is equal to your highest estimated consumption (power and energy) for 60 consecutive days.

How long will we keep your deposit?

The deposit is kept for a period of at most 48 months. At the end of this period, we will review your file.

  • If all of your bills were paid on time, the deposit amount will be credited to your account and deducted from your bill.
  • If you paid a bill after its due date, we can keep the deposit for an additional period of up to 48 months.

What is the fixed interest rate on the cash deposit?

The deposit bears interest at the rate set on April 1 of every year by Banque Nationale on one-year guaranteed investment certificates. Interest is calculated on March 31 of each year. It is payable by June 1 of each year.

From April 1, 2018, to March 31, 2019, the interest rate is 0.90%.

Power

Total amount of electricity supplied at a given time. Expressed in kilowatts (kW), power is the combined effect of voltage, expressed in kilovolts (kV), and current, expressed in amperes (A).

Energy

Power used by electrical equipment over a given period of time. Expressed in kilowatthours (kWh), energy is calculated as power, expressed in kilowatts (kW), multiplied by the time during which the power is used, expressed in hours (h).