Section 117. Consumer deposits

Except as the right to require deposits is
  further  limited  by  section  thirty-six  of  this   chapter,   a   gas
  corporation,  an electric corporation, a gas and electric corporation, a
  water corporation, a  steam  corporation,  a  telegraph  corporation,  a
  telephone  corporation  or  a  municipality rendering equivalent utility
  services may, unless prohibited by the commission, require any person to
  whom such corporation or municipality shall supply gas, electric, water,
  steam, telegraph or telephone services to deposit a  reasonable  sum  of
  money  according to the estimated quantity of such services necessary to
  supply the same for two calendar months,  to  secure  payment  for  such
  services  actually  rendered, or for the rental of fixtures, instruments
  and  facilities  actually  supplied,  but  every  such  corporation  and
  municipality  shall allow to every such depositor interest at a rate per
  annum to be prescribed from time to time,  at  least  annually,  by  the
  commission  in  the  light  of  current  economic conditions and current
  charges  paid  for  other  moneys  borrowed  by  such   corporation   or
  municipality,   and   the  expenses  incurred  by  such  corporation  or
  municipality in obtaining, handling and returning or crediting  the  sum
  deposited,  on  the sum or sums so deposited, payable upon the return of
  the deposit or at earlier intervals as hereinafter prescribed.  Whenever
  such  deposit  has  been  held  for  a  period of one year, the interest
  accrued on such deposit shall be credited to the depositor on the  first
  billing for utility service rendered after the next succeeding first day
  of  October.  If  the depositor was not delinquent in the payment of any
  bill in such one year period, the deposit shall be refunded promptly  at
  the end thereof, but without prejudice to the right to require a deposit
  thereafter  in  the event of a delinquency or where it can be shown that
  the financial condition of a business customer is such that it is likely
  that the customer may default in the future, and to retain such  deposit
  for  a  prudent  period;  except that subject to such regulations as the
  commission may establish, if the deposit is for utility service rendered
  to a business, the deposit may be retained for a prudent  period  beyond
  such a one year period. No provider of utility services shall require of
  its  customer  within its service area a new security deposit where such
  customer was not required to post a security deposit or had  a  security
  deposit  returned pursuant to this section and such customer establishes
  a new residence and continues service with the same provider of  utility
  services.