NSTAR's Terms and Conditions, as approved by the Department of Public Utilities (DPU), allow NSTAR to collect a deposit in advance of establishing new commercial service.
The amount of the deposit would be determined prior to the service being constructed and is calculated based on 20 percent of your estimated annual usage. You have the option to send payment via overnight courier in order to expedite account activation process if you prefer.
NSTAR Electric and Gas
Attn: Security Deposits, NW200
One NSTAR Way
Westwood, MA 02090
If you choose not to pay a security deposit, you are required to file one of the following:
Letter of Credit from your bank This option is most common where large deposit amounts are required or when you choose not to use capital funds to pay the deposit. If you opt to pay by a Letter of Credit, you must contact a bank that will “loan” you the required amount, usually based on collateral. Please mail an original copy of the Letter of Credit to the deposit address above. Please note: fax copies are not accepted.
Surety bond from an insurance company This option is also most often used when large deposit amounts are required. If you choose to pay in the form of a surety bond, you will need to contact a bond/insurance company to complete, notarize, and mail the original surety bond form to the address above. Please note: fax copies are not accepted.
Frequently Asked Questions
Can the company waive deposits?
Yes. We will waive a deposit if the customer can provide a credit reference from another utility company within Massachusetts, the deposit requirement is less than $200, or the applicant has an "A" credit rating.
What does NSTAR do with the deposit?
NSTAR calculates and applies interest annually on any deposits held using the prior year interest rate paid on
Treasury Notes. The interest paid is calculated according to the previous 12-month's Treasury note rate. Deposits are applied to accounts (or refunded to the customer) if the account is in good standing for a period of 24 months.
