Customers who pay for their energy by Direct Debit usually do not have to pay a security deposit. Likewise Pay as You Go customers will not be asked to pay a security deposit – because they prepay for their energy there is less risk of a debt building up or missed payment.
Many energy suppliers in Ireland can charge a security deposit for those customers who decide not to pay by direct debit and pay on receipt of a bill. This is not to say all suppliers will, but they reserve the right to add a security deposit to your account. Below is a list of what each supplier may charge bill pay customers:
- Bord Gáis Energy – €200 deposit if you choose not to pay by direct debit
- Bright – €150 deposit if you choose not to pay by direct debit
- Flogas – €250 security deposit if you choose not to pay by direct debit
- Electric Ireland – €300 security deposit if you choose not to pay by direct debit
- Energia – Case by case basis
- SSE Airtricity – €300 security deposit if you choose not to pay by direct debit
- Iberdrola – Case by case basis
- Glowpower – €300 security deposit if you choose not to pay by direct debit
- Panda Power – Based on two months estimated consumption
- PrePayPower – Based on three months estimated consumption
- Pinergy – Case by case basis
Suppliers are required to return the security deposit to your account after 12 months, provided accounts have been paid off fully and on time (i.e. a good account history). You can avoid security deposits, for all suppliers, by paying by direct debit or choosing a prepayment tariff.
All energy suppliers can charge a security deposit, if you fail to pay, cancel a direct debit or if you’re late paying any money due.
