Security Deposit
2 March 2026
Security Deposits – Small Business Customers
At 3T Power, we may request a Security Deposit in certain circumstances before supplying electricity. This page explains when a Security Deposit may be required and how the amount is calculated.
This information applies to Small Business Customers as defined in our electricity supply licence.
- When We May Request a Security Deposit
We may request a Security Deposit where it is reasonable in all the circumstances to do so.
This may include situations such as:
- Where credit checks indicate a higher risk of non-payment;
- Where there is limited or no trading history;
- Where there has been previous non-payment or significant debt at the premises;
- Where a previous occupier has left substantial unpaid charges (where relevant to risk assessment);
- Where payment history indicates persistent late payment.
Each case is assessed individually and fairly.
- When We Will Not Require a Security Deposit
We will not require a Security Deposit where:
- You agree to pay for your electricity through a prepayment meter (where it is safe and reasonably practicable to install one); or
- It would be unreasonable in all the circumstances to require a deposit.
- How We Calculate the Security Deposit
Any Security Deposit we request will:
- Be reasonable in all the circumstances;
- Not exceed the charges likely to apply for an average 6-week period of electricity supply;
- Be calculated based on the electricity consumption reasonably expected at your premises.
Our Calculation Method
We determine the likely three-month charge using:
- Historical consumption data for the premises (where available); or
- Industry consumption estimates for similar premises; and
- The applicable tariff rates, including unit rates and standing charges.
The Security Deposit will not exceed this calculated three-month estimated amount.
In many cases, the amount requested may be lower than the maximum permitted level.
- Review of Security Deposit
You may request a review of any Security Deposit requirement.
We will reconsider the requirement where:
- Updated financial or credit information is provided;
- Payment history improves; or
- Other relevant information becomes available.
We may also review Security Deposits periodically and may return the deposit where it is no longer reasonable to retain it.
- Holding and Returning the Deposit
The Security Deposit will be held as security against unpaid charges.
We may apply the deposit to reduce any outstanding debt when your contract ends.
Any remaining balance will be returned to you within 28 days of the end of supply or where the deposit is no longer required.
Interest will be paid on returned deposits at the applicable Bank of Ireland base rate.
- Further Information
If you have any questions about Security Deposits or would like an estimate of the amount that may apply to your premises, please contact us:
📞 0333 600 8800