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Deposits

When you apply for service, you must pay a deposit according to your account type:

Residential

The deposit will never exceed one-sixth of your annual electric bill. We hold the deposit until:

  • Your account is closed, or
  • We receive payment for 12 consecutive bills with no more than one late payments and zero disconnections for nonpayment.

We will waive the deposit if you provide CoServ with a credit reference letter—documentation from the CoServ account holder’s previous utility provider displaying 12 consecutive months of service within the previous 24-month period. The letter should reflect no more than one late payment and must be submitted within 14 days of account activation.

  • Electric only? A credit reference letter from your previous electric provider will satisfy this requirement.
  • Gas only? A credit reference letter from your previous gas or electric provider will satisfy this requirement.
  • Electric and gas? A credit reference letter from your previous electric provider will satisfy this requirement.

You can fax the above to (940) 270-6640 or (877) 594-6452, or email the information to contact@coserv.com.

Commercial/Industrial

We do require a deposit on all commercial and industrial accounts and the deposit will never exceed one-sixth of your annual electric bill. We hold the deposit until:

  • Your account is closed, or
  • We receive payment for 24 consecutive bills with no more than two late payments and zero disconnections for nonpayment

At the point the deposit qualifies for refund, we will automatically credit your deposit plus accrued interest to your account. (You earn interest from the date the deposit is paid in full through the date when it’s refunded. No interest applies if we refund the deposit within 30 days.)

If you transfer service to another location within our service area, we will apply your deposit to the new location. Or, if you close your account, we will apply your deposit and accrued interest toward your final statement.

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