South Carolina Code of Regulations
Chapter 103 - PUBLIC SERVICE COMMISSION
Article 3 - ELECTRIC SYSTEMS
Subarticle 4 - CUSTOMER RELATIONS
Section 103-331 - Customer Deposits
Universal Citation: SC Code Regs 103-331
Current through Register Vol. 48, No. 3, March 22, 2024
A. Each electrical utility may require from any customer or from any prospective customer, a deposit intended to guarantee payment of bills for service, if any of the following conditions exist:
1. The customer's
past payment record to an electrical utility shows delinquent payment practice,
i.e., customer has had two consecutive thirty-day arrears, or more than two
non-consecutive thirty-day arrears in the past twenty-four months, or
2. A new customer cannot demonstrate that he
is a satisfactory credit risk by appropriate means including, but not limited
to, a letter of good credit from an electrical utility, references which may be
quickly and inexpensively checked by the Company or cannot furnish an
acceptable cosigner or guarantor on the same system within the State of South
Carolina to guarantee payment up to the amount of the maximum deposit,
or
3. A customer has no deposit and
presently is delinquent in payments, i.e., has had two consecutive thirty-day
arrears, or more than two non-consecutive thirty-day arrears in the past
twenty-four months, or
4. A
customer has had his service terminated for non-payment or fraudulent use,
or
5. A non-residential customer or
its parent company is experiencing financial difficulties as determined by an
electrical utility using its respective internal credit risk rating criteria
(even if the customer has not yet defaulted or caused a default on a payment
obligation to the utility) and has not negotiated an alternative payment plan
designed to mitigate the utility's risk of loss. The electrical utility may use
a variety of security options other than the payment of a two-month cash
deposit, including but not limited to accelerated payment plans, surety bonds,
bank letters of credit or some combination of the above. All electrical
utilities engaging in negotiated payment solutions must provide a copy of their
respective internal credit risk rating criteria upon request by the Office of
Regulatory Staff.
B. If the electrical utility elects to require a deposit under Subsection (A)(5) of this Rule, then the electrical utility shall inform the affected customer of the provisions of this Rule.
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