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Deposit Policy

Mobile Gas Service Corporation

Deposit Policy for the Establishment of Service
Effective 12/04/2014

Mobile Gas Service Corporation will follow the below deposit policy until further notice:

Residential Customer:

  • The deposit for first time customers, return customers which were not non-pay lockoffs, or there were no write-offs associated with any previous account – $80.
  • The deposit for residential customers that have had a non-pay lock-off – $125.
  • The deposit for residential customers in which there has been a write-off or other potential financial risk (in 3rd Party Collections, Bankruptcy, etc.) – $150 or twice the average of the previous November through April billing periods, rounded to the nearest $25, whichever is higher. If there are multiple accounts, the account with the highest average bill will be used to calculate this deposit.

Commercial Customer:

  • New commercial accounts for previously existing service of a similar type, look at the highest bill in the past 12 months and round to the nearest $25. This deposit should not be less than $150 or greater than $3,000.
  • New commercial accounts and there was no prior service at the location, refer to a Marketing Representative. This deposit should not be less than $150 or greater than $3,000.
  • Any commercial account that has had a non-pay lock-off – twice the highest bill in the past 12 months and round to the nearest $25. This deposit should not be less than $250 or greater than $3,000.
  • Any commercial account that has had a write-off – twice the highest bill in the past 12 months and round to the nearest $25. This deposit should not be less than $250 or greater than $3,000.
  • A surety bond can be provided in the same amount in lieu of deposit payment.

Deposits on active accounts will be held for a period of 24 months plus the time to reach the next December 1st, at which time the deposit will be credited to the account, provided the account is in good standing.

An account is in good standing if it has zero credit worthiness points.

Interest will be calculated annually on the deposit amount at the rate of 7% and will be credited on the December bill each year.

Management reserves the right to adjust, alter, or make changes to this policy as they deem appropriate, without notice in order to manage risk.