Cash grab by Newport Utility in eastern TN

[Collin Hays]

When you have your own business, such as a vacation rental, you always have to be on the lookout for entities trying to grab cash from you.  A few weeks ago, Newport Utility, my electric provider for 4 properties, demanded that I increase my deposits by $100 per property, due to "increased usage." The first property I bought in 2005, never late on a single payment.  All of my properties are on auto draft, so they are paid on-time and in-full.

While it is just $400, I am fighting hard on this. I asked for proof of "increased usage" and thus far, they haven't given me any evidence of this.  Since my deposits supposedly earn interest, I have inquired as to the current value of my $250 deposit that I made in 2005.  Crickets on that so far, too. 

As of now, they are saying that, by not paying another $100 deposit, by services could be subject to disconnect.  I'm not buying it, and I'm not writing a $400 check to them.