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Deposits

Welcome to Puget Sound Energy! If you’ve been asked to pay a deposit to start service, we’ll mail a letter to you immediately that will include details of the deposit amount and deposit payment due dates.

You may be eligible to have your deposit waived. Select one of the options below to learn about possible ways to waive the deposit and how to provide us with the necessary documentation.

How will I find out whether my deposit has been waived?

Once we’ve received the required information, we’ll review it to see whether your account is eligible to have the deposit waived. We’ll notify you based on how you sent us the information or you can check your next billing statement to see if the deposit was waived.

How do I pay my deposit?

Your deposit will appear on your next regular bill. We will automatically set up the deposit on an installment plan to be paid in full within 90 days. You’ll receive a confirmation letter communicating the due dates and amounts as follows:

  • The first half of the deposit will be due by your first due date
  • The next quarter of the deposit will be due by the second due date
  • The remaining quarter of the deposit will be due by the third due date

If you prefer, you can still pay all or part of the deposit before the first bill. If you are unable to pay the required deposit, our payment assistance programs may be able to help.

Will I be able to get my deposit back at some point?

Yes! We’ll refund your deposit, with interest, when we’ve received 12 consecutive months of satisfactory payments, unless we’ve issued three or more past-due notices. Otherwise, when you end your PSE service, the deposit plus interest will be applied to your account to cover any unpaid charges and any remaining balance will be refunded.

To guarantee that you receive your refund, please be sure to provide a forwarding address when you end your service.

If you move within PSE’s electric or natural gas service area and are required to pay a deposit for a new account, we can transfer the balance from your previous deposit after you pay the final bill on your previous account.

  • I’m a current or past PSE customer

    Existing PSE residential customers who meet certain requirements may be eligible to have their deposit waived.

    The primary account holder or authorized contact on the account can sign up for AutoPay online with PSE or via your bank’s online bill pay service.

    • You must sign up for either PSE’s AutoPay or your bank’s online bill pay service before requesting to have your deposit waived.
    • For AutoPay, use our Contact Us form to let us know that you’ve completed the sign up and would like your deposit waived.
    • For your bank’s bill pay service, you can send us a confirmation by:
      • Fax: 425-424-6728
      • Mail:
        Puget Sound Energy
        PO Box 97034
        Bellevue, WA 98009-9734
    • When sending your confirmation, include:
      • Your name
      • PSE account number
      • Service address

  • I’m a new PSE residential customer

    New PSE residential customers who meet certain requirements may be eligible to have their deposit waived. Here are your options:

    1. The primary account holder or authorized contact on the account can sign up for AutoPay online with PSE or via your bank’s online bill pay service.

    • You must sign up for either PSE’s AutoPay or your bank’s online bill pay service before requesting to have your deposit waived.
    • For AutoPay, use our Contact Us form to let us know that you’ve completed the sign up and would like your deposit waived.
    • For your bank’s bill pay service, you can send us a confirmation by:
      • Fax: 425-424-6728
      • Mail:
        Puget Sound Energy
        PO Box 97034
        Bellevue, WA 98009-9734
    • When sending your confirmation, include:
      • Your name
      • PSE account number
      • Service address

    2. Provide a letter of credit from a previous utility, meeting all of the following criteria:

    • Minimum of one year of service
    • From another gas or electric utility
    • Service must be within the last 24 months
    • No more than two delinquency notices.
    • Send us a copy of the letter of credit one of the following methods:
      • Fax: 425-424-6728
      • Mail:
        Puget Sound Energy
        PO Box 97034
        Bellevue, WA 98009-9734
    • Please be sure to include:
      • Your name
      • PSE account number
      • Service address

    3. Furnish a qualified guarantor who will agree to be responsible for the bill up to the amount of the deposit. A qualified guarantor is a current PSE residential customer in good standing.

    • The guarantor must complete and submit a guarantor form, which can be picked up at any PSE community office . They can either provide photo ID and fill out the form in person; or they can take the form to fill out at a later time, have it notarized and mail it to:
      Puget Sound Energy
      Vendor Collections BOT-02G
      PO Box 97034
      Bellevue, WA 98009-9734
    • If you are unable to pick up the form at a local office, you can contact us via our contact form and ask us to mail it. In your contact request, be sure to include the guarantor’s account information so we can verify their eligibility. We'll mail the form directly to the guarantor for them to complete, notarize and submit.
    • Note: If a guarantor no longer wants responsibility, they can email PSEVendorCollections@pse.com with the following information:
      • Guarantor’s account number
      • Account number the guarantor is guaranteeing

  • I’m a new PSE business customer

    New PSE business customers who meet certain requirements may be eligible to have their deposit waived. Existing business customers cannot have their deposits waived. New PSE business customers have three options:

    1. Provide a letter of credit from a previous utility

    • Letter of credit must meet all of the following criteria:
      • Show a minimum of one year of service, within the last 24 months
      • From another gas or electric utility
      • Must contain the average monthly cost of electric usage and must be indicative of the usage the customer will incur
      • Cannot contain any delinquency notices
    • Send us a copy of the letter of credit using one of the following methods:
      • Fax: 425-424-6728
      • Mail:
        Puget Sound Energy
        PO Box 97034
        Bellevue, WA 98009-9734
    • Please be sure to include:
      • Name on the account
      • PSE account number
      • Service address

    2. Provide an irrevocable letter of credit from your bank

    • We require the irrevocable letter of credit document provided by your bank.
    • Send us a copy of the irrevocable letter of credit using one of the following methods:
      • Fax: 425-424-6728
      • Mail:
        Puget Sound Energy
        Vendor Collections BOT-02G
        PO Box 97034
        Bellevue, WA 98009-9734
    • Please be sure to include:
      • Name on the account
      • PSE account number
      • Service address

    3. Provide a surety bond from your insurance agent

    • Contact your insurance agent to obtain a surety bond. PSE will not provide a form for this.
    • Once you have received it from your insurance agent, send us a copy of the Surety Bond using one of the following methods:
      • Fax: 425-424-6728
      • Mail:
        Puget Sound Energy
        Vendor Collections BOT-02G
        PO Box 97034
        Bellevue, WA 98009-9734
    • When sending the Surety Bond include the following:
      • Name on the account
      • PSE account number
      • Service address