Do I need to pay a security deposit?

Power NI checks the credit status of all new commercial customers. This includes, but is not limited to your company’s credit rating, the type of business you run, how you plan to pay and economic factors. 

Depending on the results, we may ask for: 

• A security deposit 
• Payment by Direct Debit 
• Parent company or bank guarantee 

For Small Business Customers, if a security deposit is needed, it will be based on the cost of electricity for a typical three-month period for your type of business. You may not need to pay a deposit if: 

• You already have sites with us and a good payment history 
• Your business is considered low risk with a strong credit rating 

We review security deposits every year. If approved, we may refund your deposit with interest (based on the Bank of England’s base rate). A refund will be given if we believe there’s no longer a risk in supplying electricity to your business. We consider things like economic conditions, credit reports, and publicly available company information. 

If you end your contract and still owe money, we may use your deposit to reduce the debt. 

Unless our Payment & Account Resolutions team tells you otherwise, deposits must be paid within 7 days. If not, your contract may be cancelled, and your electricity supply stopped. 

You can ask our Payment & Account Resolutions team to review your deposit at any time. However, there’s no guarantee it will be changed or refunded. 

Deposits are held according to our Terms and Conditions for Non-Domestic Electricity Supply. You can read them at www.powerni.co.uk/termsandconditions