Have you ever failed to claim a deposit you placed on anything, like an apartment or rental equipment? Nope. Me neither. But, as much as I don’t understand it, apparently it does happen.
On average, we receive $21,000 in unclaimed account deposits each year. (Account deposits are typically required for commercial accounts.) This Legislative Session, we are working with state policymakers to clarify Colorado Revised Statutes to align with the Constitution and our current practice at Utilities. Upon passage of SB25-068, we will have certainty of our ability to keep unclaimed funds for our customer assistance program, Project COPE (Citizen’s Option to Provide Energy).
Keeping money local
State statute currently mandates utilities to submit their unclaimed deposits – after two years – to Energy Outreach Colorado for statewide energy assistance. However, once SB25-068 is passed, we will be able to contribute unclaimed deposits to our locally run Project COPE instead of sending those dollars to the state. Keeping these funds local goes a long way to helping customers in our community.
Project COPE provides utilities payment assistance – one time per year – to families and individuals bridge from emergency situations to stability. Last year, in partnership with nine community non-profits, Project COPE helped more than 2,400 customers with approximately $1.7 million in assistance.
Project COPE eligibility
There is no income requirement to receive Project COPE funding, but customers must:
- Apply for LEAP before receiving COPE assistance. Customers can receive assistance from both programs if they qualify.
If you would like to donate to Project COPE or need assistance, visit projectcopecs.org.
