Lakeland CRA: Developers’ Corner – Electric Utility Deposits
There are many costs involved in opening or moving a business or office location. One of the costs that sometimes catches business owners by surprise is the electric utility deposit necessary to set up service in the new location. We spoke with David Kus, Assistant General Manager Customer Service, at Lakeland Electric to find out how to determine the deposit amount.
The first thing we found out was that the requirement for the utility deposit is outlined in City Ordinance No. 4825 which was enacted in 2007. The ordinance requires a utility deposit equal to two months’ of average electrical use.
So how do you as a business owner, property owner, or broker find out what the deposit amount will be for a particular business? Here is the information you need to begin the inquiry: [Read the full article]