Policy No. 440 — Buckeye Rural Electric Cooperative
ACCOUNT CHARGES
Objective:
To establish conditions and fees for charges for electric service.
I. Account Origination fee: A fee will be established to set up a new account.
II. Security Deposit: A security deposit may be required for each account. BREC may waive the security deposit with a satisfactory letter of credit from a previous electric supplier (providing there are no outstanding balances due BREC).
In the event a bankruptcy requires the closing of an old account and the establishment of a new account the following conditions shall apply:
1) The old account shall be closed effective the date of the bankruptcy filing.
2) Any deposit on hand from an account closed by bankruptcy shall be applied to the remaining balance on the closed account.
3) The billing on the new account begins the date of the bankruptcy filing.
4) A new account origination fee of $30 shall be paid as well as a security deposit of $165 or 130% of the annual average of monthly consumption, whichever is greater, to establish the new account.
The security deposit, when required, will be kept by BREC until such time as the Consumer has completed twenty-four (24) monthly payments with minimal delinquencies. The deposit will automatically be applied to the customer’s account when this requirement is met. At the time the consumer leaves the cooperative’s lines any remaining deposit is to be refunded less amounts due and payable on the final bill.
III. Collection Charge: Delinquent accounts may be charged a collection fee as allowed by law.
Approved by the Board of Trustees of Buckeye Rural Electric Cooperative, Inc., on
February 26, 2001.
Effective: February 27, 2001
Revised: December 18, 2002
Approved: December 30, 2002
Revised: June 11, 2003
Approved: June 30, 2003
Reviewed and Revised: September 29, 2005
Approved: October 31, 2005
Revised and Approved: October 30, 2006
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