# Waive Austin Utility Deposits With a Letter of Credit

> A 12-month letter of credit from your current utility can waive deposits at Austin Energy ($200), PEC (up to $150), and Georgetown ($250).

URL: https://newapartmentsaustin.com/guides/waive-utility-deposits-letter-of-credit/
Last-Modified: 2026-10-25

Guide · Guides

# How to Waive Utility Deposits With a Letter of Credit

A 12-month letter of credit from your current utility can waive deposits at Austin Energy ($200), PEC (up to $150), and Georgetown ($250). The steps and timing.

Written by 

New Austin Apartment Team

[/about/#new-austin-apartment-team →](/about/#new-austin-apartment-team)

 · Reviewed by the team, Spirit Real Estate Group, LLC · Updated October 25, 2026 · 4 min read

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![Utility letter of credit on a desk beside new apartment keys](/images/featured/utility-letter-of-credit-printed-on-a-desk-beside-.webp)

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## Can you skip a utility deposit when you move?

Often, yes. A 12-month letter of credit from your current electric utility, showing on-time payments, can waive the deposit at three providers that serve new Austin-area buildings: Austin Energy ($200), Pedernales Electric Cooperative (up to $150), and Georgetown Utility Systems ($250). That’s up to $250 less in move-in cash. It’s one of the steps in our 

move-in setup

[/ →](/)

 for every renter.

![Three-step timeline: request letter, send to utility, start service](/images/content/three-step-timeline-graphic-request-letter-send-to.webp)

## Step 1: Find out which utility serves your new address

Electric depends on the address. Across 144 board buildings on Oct 25, 2026: Austin Energy 83, Pedernales 28, Bluebonnet 13, Georgetown Utility Systems 3, and Oncor with plan choice 16. Our guide on 

which utility serves your address

[/guides/austin-energy-vs-pec-vs-bluebonnet/ →](/guides/austin-energy-vs-pec-vs-bluebonnet/)

 explains each one. We list the provider on every board card.

## Step 2: Request the letter from your current utility

Contact your current electric utility, even if it’s in another state, and ask for a **letter of credit** (sometimes called a credit reference or payment history letter). It should show:

-   Your name as the account holder
-   At least **12 months** of service
-   **On-time payment** history, with no disconnections
-   The utility’s contact information

Many utilities generate it online in a few minutes. Others mail or email it within a few days.

## Step 3: Send it before your start date

Open your new account a week or more before move-in and submit the letter as part of setup. Timing matters: if service starts before the letter is reviewed, you may be billed the deposit and refunded later.

| Provider | Deposit | Waivable with 12-month letter? |
| --- | --- | --- |
| Austin Energy | $200 | Yes |
| Pedernales Electric Cooperative | Up to $150 | Yes |
| Georgetown Utility Systems | $250 | Yes |
| Bluebonnet Electric Cooperative | Varies | Ask when you open service |
| Oncor areas | Set by your retail provider | Depends on the provider |

> **What it means for you**
> 
> On a $1,500 first month plus a $500 security deposit, waiving a $200 Austin Energy deposit cuts move-in cash by about 10%.

## Step 4: Start water

Water is separate. In Austin city limits, many buildings use Austin Water accounts; many others bill water, sewer, and trash through the property. If the property bills it, there’s no separate deposit, but the charge shows up on your rent statement. PUCT rules (16 TAC Ch. 24) require the property to disclose the billing method.

## What if you don’t have a letter?

If you’ve never had an account in your name, you may need to pay the deposit. Options to ask about:

-   A reference from a roommate’s or family member’s account, if you were listed on it
-   Paying the deposit and asking when it’s refunded after on-time payments
-   In Oncor areas, retail providers with no-deposit plans based on credit

## Add it to move-in cash

Move-in cash = first month due + security deposit + application and admin fees + pet deposit + utility deposit. Our move-in cash calculator, listed on the 

tools page

[/tools/ →](/tools/)

, shows the effect of a waiver. We’ll help you set it up before move-in.

See it on the board

Every new building priced on net effective, required fees, and year two, pulled every morning.

Open the New Build Board

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Why it goes wrong

## Why the advertised price isn't what you'll pay

Problem 1

### Specials don't compare

10.8 weeks free was the board median on Oct 25, 2026. On 12 months that is about 21% off base, spread across the year.

Problem 2

### Fees sit outside the rent

Required fees ran $78-$228 a month at 12 board buildings (median $120.50), about $1,446 a year outside headline rent.

Problem 3

### Year two jumps

Renewals price from base rent. At the median special, year two is about 26% higher at the same base.

So we show net effective, true monthly, and year two on every building before you tour.

Straight answers

## Questions about this topic

Direct answer first, then the source and date. If your question isn't here, ask us on the form or by text.

### How much is the Austin Energy deposit?

$200, and a qualifying 12-month letter of credit from your current utility can waive it.

### Where do I get a letter of credit?

From your current electric utility. Ask for a letter of credit or credit reference showing 12 months of on-time payment. Many utilities provide it online or by phone.

### What if I've never had a utility account in my name?

You may need to pay the deposit. Some renters on a roommate's account can ask that utility for a reference; we'll check what the new utility accepts.

### Can you guarantee a price or approval?

No. Utilities set their own deposit rules.

Keep reading

## More guides on this topic

![Electric meter bank on the limestone wall of a new Central Texas apartment building](/images/featured/electric-meter-bank-on-the-limestone-exterior-wall.webp)

### Austin Energy vs. PEC vs. Bluebonnet: Electric at New Apartments

Electric depends on the address. Across 144 new Austin-area buildings: Austin Energy 83, PEC 28, Bluebonnet 13, Georgetown 3, Oncor 16 (Oct 25, 2026).

[Austin Energy vs. PEC vs. Bluebonnet: Electric at New Apartments →](/guides/austin-energy-vs-pec-vs-bluebonnet/)

![Hands with a calculator and notebook at a sunlit desk in a new apartment](/images/featured/hands-with-a-calculator-and-notebook-at-a-sunlit-d.webp)

### How to Set an All-In Budget for a New Apartment

Turn a monthly budget into net effective plus fees plus utilities, then check move-in cash, 24-month totals, and year two before you tour.

[How to Set an All-In Budget for a New Apartment →](/guides/all-in-apartment-budget/)

The 60-second form

## Tell us what you need. We make the calls.

You don't have time to call 20 leasing offices. We do, and confirm the unit, the special, and the written fee sheet the same day during hours.

1.  1 Same day We call or text during hours with a shortlist plan.
2.  2 In writing Unit, special, end date, and fee sheet confirmed before you tour.
3.  3 Year two shown Every pick shows year two at 0% and +3%, plus a 24-month total.

Prefer to talk? 

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Related pages

## Related board views

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Board view

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Specials confirmed within the last 7 days, each decoded to net effective and year two, with base rent shown beside every discount.

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Board view

### Lease-Ups

Buildings already open and filling, sorted by stage and fill estimate, with what's finished and what the special does to your monthly cost.

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Free to you, and your rent is the same either way

## You don't have time to call 20 leasing offices. We do.

Send us your move date and all-in budget. We confirm the unit, the special, and the written fee sheet the same day during hours, then show you year two before you tour.

Get my shortlist →

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See the New Build Board

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Call or text 512-000-000

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We don't guarantee pricing or approval. The community sets both, and we confirm them before you sign.