The purpose of this policy is to establish uniform guidelines for the issuance and treatment of New Power Texas residential customer refund requests. Refunds for New Power Texas customers typically result from customer over payment, customer duplicate payment, New Power Texas billing corrections and the transfer of credit balances from one New Power Texas account to another New Power Texas account.
For Active Accounts: Any over payment made by a customer will be reflected as a credit balance on the customer’s account and unless specifically requested in a refund by the customer, the credit balance will be applied to future bills.
Refunds for over payments will be considered on a case-by-case basis and will only be processed upon the request of the account holder.
a) Refunds for payments made by check, over the counter (direct paid at office location), via mail or through a bank on any account will be issued upon the request of the account holder when payments made result in a credit balance.
b) Refunds for over the phone and online credit card transactions will be issued to the credit card account, if requested, within one (1) business day of payment being posted to the account. The refund must be issued to the same credit card account as was used in the transaction that resulted in the over payment.
c) Requests made in (b) above, after the expired one (1) business day period, will be issued by check to the account holder and sent to the account holders address. Refunds will only be processed within fifteen (15) days of payment being posted to the account.
d) Refunds for payments made by ACH on any account will be issued upon the request of the account holder when payments made result in a credit balance. Refunds will only be processed after a fifteen (15) business day hold period for funds to be cleared.
No customer refund will be processed if the next bill is scheduled to be issued within ten (10) days from date of payment being posted to the account. In the event a billing adjustment creates a credit balance on the account, the credit will be applied to future bills and is not eligible to be refunded to the customer.
For Inactive/Closed Accounts: Refunds (including deposits and any accrued interest) for closed accounts will be refunded after deducting any outstanding balance owed to New Power Texas. All final refunds are made via a check and will be mailed to the new or updated mailing address provided by the former New Power Texas account holder.
Transfer of Credit Balance: A credit balance may be transferred from one New Power Texas account to another New Power Texas account, provided both accounts share the same account holder name. Credit Balances will not be refunded to the account owner if same account owner has debit balance owed to New Power Texas on other accounts.