Deposit and Other Fees

Is there a cancellation fee?

It depends on the product you choose. Month-to-month products do not have a cancellation fee. A fixed term product most likely has a cancellation fee if you cancel your agreement before the term expires. Everything is included in your Energy Facts Lable (EFL) and Terms of Service (TOS.)

What are my deposit waiver options?

If you do not meet the deposit exception requirement or demonstrate a satisfactory credit history, you may be required to pay a deposit in order for your service to start with Companion Energy.

However, you may be eligible for a deposit waiver.

A deposit may be waived if:

1) You provide an acceptable Utility Credit History (Credit Reference) Letter Please provide a copy of your Utility Credit History (Credit Reference) Letter with your previous electric provider indicating you have made not more than one (1) late payment in the last twelve (12) months. Include your Companion Energy account number with the documentation. Send to: lettersofcredit@CompanionEnergy.com. alternatively send via fax to: 866-926-8193 Your request for service will be processed when your documents are received and approved by Companion Energy, which may take 24 – 48 hours from date of receipt.

2) You are 65 years of age or older and you are not currently delinquent in payment of any electric service account Please provide a copy of your valid Driver’s License and your last month’s electricity bill from your current provider indicating that you are not currently past due. Include your Companion Energy account number with the documentation. Send to Companion Energy via fax to: 866-926-8193 or email to: lettersofcredit@CompanionEnergy.com. Your request for service will be processed when your documents are received and approved by Companion Energy, which may take 24 – 48 hours from date of receipt.

3) You provide acceptable evidence you are a Victim of Family Violence Please complete a Victim of Family Violence Form. The Victim of Family Violence, as defined in the Texas Family Code section 71.004, must be completed by a certifying entity. The following are considered a “certifying entity”: Family Violence Center Treating Physician or Medical Personnel Law Enforcement Personnel Office of Texas District Attorney, County Attorney, the Attorney General Grantee of the Texas Equal Access to Justice Foundation when you submit a certification letter from the Texas Council of Family Violence. Include your Companion Energy account number with the documentation. Send to Companion Energy via fax to: 866-926-8193 or email to: lettersofcredit@Companion Energy.com. Your request for service will be processed when your documents are received and approved by Companion Energy, which may take 24 – 48 hours from date of receipt.

What if I have always paid my bills on time and the website says I require a deposit?

If this happens, you should double check to make sure all your information was entered correctly. If it is all correct and we still require a deposit, perhaps your last utility did not report payment histories. You can easily correct this by requesting a Letter of Credit from your previous utility. They can usually mail, fax or email this to you. Once we receive this, we can use it for your history to determine any deposits necessary.

Why do you need my Social Security Number (SSN)?

As mentioned at the beginning of this section, we use it to review your payment history with other providers and/or check your credit score. We use your SSN as a unique reference to identify you in these records. Please be assured that once this is provided on our secure website, it is not visible to any Customer Service operator or visibly stored in your account information.

Will Companion Energy check my credit?

When enrolling, we do check your payment history with other utility providers and may check your credit score. These will only determine if a deposit amount, if any, is necessary.