Under what circumstances may Hydro‑Québec require a deposit?
If you are already responsible for an electricity service contract, Hydro‑Québec may request a deposit in the following two situations:
- You have received a late payment notice from Hydro‑Québec for one of your contracts within the 24 months preceding the request for a deposit.
- You availed yourself of the provisions of the Bankruptcy and Insolvency Act (R.S.C., 1985, c B-3) within the 24 months preceding the request for a deposit.
How can you make the deposit?
There are three ways to make your deposit:
- by cheque
- through your financial institution
- through our Online Payment services
You can also provide us with an irrevocable letter of guarantee. Contact your financial institution to learn more about the charges and conditions associated with such a letter.
How much must you deposit?
The amount of the deposit is equal to your highest estimated bill for 60 consecutive days.
How long do we keep your deposit?
The deposit is retained for an initial period of up to 24 months. At the end of this period, we may retain your deposit for another period of up to 24 months, if you have failed to pay a bill on time.
What is the fixed interest rate on the cash deposit?
The deposit bears interest at the rate set annually on one-year guaranteed investment certificates (GICs) by Banque Nationale on April 1. The interest is calculated annually on March 31 and is applied to your bill by June 1 of the same year, for as long as Hydro‑Québec retains your deposit.
From April 1, 2023, to March 31, 2024, the interest rate is 2.95%.