A security deposit is required for all services and due immediately to receive electricity.
Deposits are calculated as two times the average bill with minimums as follows:
Apartments: $100 minimum.
Existing services: $200 minimum.
New construction services: $200 to $300 (with electric heat).
The deposit will be returned to the applicant after 12 months of continuous good credit with the cooperative. Deposits may be waived if the applicant signs up for bank draft withdrawal through Nodak’s Automatic Payment Plan, upon receipt of a satisfactory credit report, has a 12-month favorable credit reference from applicant’s most recent power supplier, or has an existing account in good standing.
Seasonal electrical use accounts will be charged a deposit amount equal to the highest monthly billed (or estimated) historical amount that best covers the Cooperative’s risk.