Power distribution utility in the Philippines.
“A bill deposit protects Visayan Electric against customers who neglect to pay their electric bills. The deposit allows Visayan Electric to recover payment equivalent to one billing period when a customer fails to pay an amount that has become uncollectible.”
“The amount of your bill deposit is equivalent to your 12 months average monthly bill or it will be calculated based from the applied load if you are a new applicant.”
“Your bill deposit may vary each year. One (1) year after paying your bill deposit, and every year thereafter, if your actual average monthly bill for the past 12 months is less than 10% of your current deposit, it will be lowered to approximately the same amount as your average monthly bill.”
“Your bill deposit will earn a 0.05% interest, which will be credited annually to your bill.”
“Your excess deposit for the year will be refunded to you via a credit adjustment in your bill.”
“Your failure to pay is ground for continued electric service disconnection.”
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