Water Company Deposit

Published 10:00 pm Tuesday, May 6, 2014

To the Editor:
When I moved to Tryon 18 years ago, I have to say the monthly water bill was a bit of a shock. We paid quarterly in the North East and it ran around $52.00. Our deposit to get water back then was $150.00, even though we had prior good credit for all other utilities. I lived in Tryon for 18 years and when we recently moved, I did not even think about the deposit any longer, assuming I must have gotten it back and forgot about it.
Not true! After 18 years of living in Tryon and them taking another monthly fee out of it, plus a partial month (thinking I had paid the last bill I received, but maybe I was mistaken) we received $63+ back of that $150 and not a penny of interest on that deposit.
I would like to know who holds those deposits? Are they not put into an escrow account? And if they (Tryon) held my deposit that long (every bill was paid on time every month for 18 years), then how much interest are they collecting on all these deposits that they are keeping? I’ve never known of any public utility being allowed to keep a deposit more than a year unless bills were not being paid on time, and all deposits were paid back with interest.
Is Tryon above the law with their water company? After having their water for many years, I was there when Tryon doubled their rates and then they went up 25 percent once again. Citizens had accused them of using the water company in place of raising taxes to make things sound better on one end. So, Tryon, where does all the interest on those outrageously high deposits for water service go to? I’m sure anyone who has money you are holding would like to know. Thank you!

– Lori De Vries, Tryon

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