The amount of the deposit would be determined prior to the service being constructed and is calculated based on 20 percent of your estimated annual usage. You have the option to send payment via overnight courier in order to expedite the account activation process. Please send deposit payments to:
Security Deposits, NW200
247 Station Drive
Westwood, MA 02090
If you choose not to pay a security deposit, you are required to file one of the following:
Letter of Credit From Your Bank: This option is most common where large deposit amounts are required or when you choose not to use capital funds to pay the deposit. If you opt to pay by a Letter of Credit, you must contact a bank that will “loan” you the required amount, usually based on collateral.
Please mail an original copy of the Letter of Credit to the deposit address above. Please note: fax copies are not accepted.
Surety Bond From an Insurance Company: This option is also most often used when large deposit amounts are required.
If you choose to pay in the form of a surety bond, you will need to contact a bond/insurance company to complete, notarize, and mail the original surety bond form to the address above. Please note: fax copies are not accepted.
Frequently Asked Questions
Can deposits be waived?
Yes. We will waive a deposit if the deposit requirement is less than $200, or the applicant has an excellent credit rating with us for any existing commercial accounts with Eversource in the state of Massachusetts.
What do you do with the deposit?
We calculate and apply interest annually on any deposits held using the prior year interest rate paid on Treasury Notes. The interest paid is calculated according to the previous 12-month's Treasury note rate. Deposits are applied to accounts (or refunded to the customer) if the account is in good standing for a period of 24 months.