MVEC requires a $265 deposit for all new or transferred residential electric services. The deposit may be waived or assessed based on the results of an Online Utility Exchange verification check. If a deposit is required, members have the following options:
Deposit Waiver Options:
- Prepaid Billing – Enroll in our prepaid billing program to avoid the deposit. (Note: Due to metering infrastructure limitations, This option is currently unavailable for members in the former Alliant Energy service area, including Montgomery and Le Center.)
- Automatic Bill Pay – Set up recurring payments through a credit card or bank account.
- Letter of Reference – Provide a Good Credit letter from a previous electric utility.
Deposit Payment Option:
If none of the above options are selected, the $265 deposit must be paid upfront. Contact MVEC for more details or assistance.
NOTE: Deposits will earn interest consistent with MVEC’s schedule of charges.
Questions? For more information contact:
Member Account Support
(952) 492-2313 or (800) 282-6832
[email protected]