Why do you require a deposit on my account?
In some cases, we require a security deposit to open or maintain an account. For residential service, the deposit requirement is based on previous payment history or Equifax credit rating. For more information on BGE's deposit policy for Residential customers, please visit our Residential Consumer Reference Booklet.
For Non-residential service, a deposit is required for first-time customers. The deposit requirement for previous or existing customers is based on prior payment history. For more information about BGE's deposit policy for Business customers, please visit our Business Consumer Reference Booklet.
How long do you keep my deposit?
For residential accounts, the security deposit plus earned interest is applied to the balance of your account one year after the deposit is paid in full provided:
If the deposit is not applied or refunded after one year, it is reviewed for refund eligibility every 12 months thereafter.
Non-residential deposits are based on the maximum estimated usage for service for two consecutive billing periods or 90 days, and may be paid in 2 installments, if requested. Deposits plus interest are reviewed for refund after four years from the date paid in full.
Can I pay the deposit in installments?
Please contact us at 1.800.685.0123 to discuss available deposit installment options on your account. For residential service, if the quoted deposit is $50 or less, that amount must be paid at the time service is started. If the deposit exceeds $50, the greater of $50 or one-third of the deposit must be paid by the date your service is started. Customers can request up to eight weeks to pay a deposit between $50 and $150 or up to 12 weeks for deposits over $150. Account payments are first applied against application and deposit charges, then to service and/or other amounts owed.
Non-residential deposits may be paid in 2 installments, if requested.
Do I receive interest on
Deposits earn simple interest from the date paid in full, the rate of which is determined by the average of the one year Treasury bills for September, October, and November of the previous year. This rate is adjusted January 1 of each year.
For non-residential customers, BGE recalculates the deposit interest rate every year based on the yield on 12-month Treasury Bills during the months of September through November of the previous year.
Do I receive the deposit back if I discontinue service?
Yes. After your final
bill is processed, your deposit plus interest is applied to your final bill. If
this creates a credit on your account, the refund check will automatically be
generated and sent to the mailing address in our system within 45 business
days. Always confirm that your mailing address is listed correctly by visiting
bge.com/myaccount under “My Notification Preferences,” or call us directly at
1.800.685.0123 to update that information.
Why was my refund applied to my account balance?
Unless you communicate directly to BGE that you require a refund check on a current credit balance, the credit will be applied directly to your account. Once requested, a refund may take up to 45 business days to be received by mail. Prior to requesting your refund, please confirm that your mailing address is listed correctly by visiting bge.com/myaccount under "My Notification Preferences," or call us directly at 1.800.685.0123 to update that information.
What do I do if I've accidentally overpaid my account?
Any credit balance on the account will be automatically applied to your next bill. If that is not an option for you, you could dispute that payment with your bank. Otherwise, please contact us directly at 1.800.685.0123 to request a refund. We may require additional documentation to process your request. Please provide the best mailing address for you at the time of your call as it may take up to 45 business days for that refund to be received by mail.