Deposit and payment guarantee

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, or
   • 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.

Adjustment of deposit amount

During the holding period for your deposit, if we notice that the requested amount is no longer equal to the highest bill for a consumption period of 60 consecutive days, we may adjust it upward or downward. We will notify you in such situations. Please note that the holding period for your deposit will not be extended if the deposit amount is adjusted.

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 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, , to March 31, , the interest rate is 3.5%.