My electric company; LCEC, has notified me that they are going to charge an extra deposit to my account because I made a late payment. If I don't pay the extra deposit they are going to shut off my electricity. Is this legal? Isn't this extortion?
LCEC states that they are a not for profit business.
Corporate / Incorporation Lawyer
The short answer is they can do it if it's in their tariff filed with the public service commission (and it likely is in there).
As for what they will do--chances are they will not disconnect you for not paying the deposit.
However, not paying the deposit allows them to charge a late fee on your account every month.