As a business customer, you may be required to provide a deposit before Hydro-Québec will supply you with electricity.
When must you provide a deposit?
There are two cases in which you must supply a guarantee deposit.
- When you request a new service contract, Hydro-Québec will ask you for a deposit if:
- You are not already a customer, or
- You failed to pay your electricity bill by its due date within the past 24 months for one of the contracts in your name.
- If you already have a service contract in your name, Hydro-Québec will request a deposit if:
- You failed to pay your bill by its due date within the past 24 months for one of the contracts in your name.
What payment methods are accepted?
You can pay in cash or supply us with an irrevocable letter of guarantee from your financial institution, valid for the entire period of your deposit.
How much will the deposit be?
The maximum amount of the deposit corresponds to an estimate of your highest consumption (power and energy) for two consecutive months.
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 will 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 the National Bank of Canada on one-year guaranteed deposit certificates. The interest is credited to your account and applied to your bill before June 1 of every year.
From April 1, 2017, to March 31, 2018, the rate is 0.90%.