We would like to inform our valued customers that in accordance to Article 28 – Obligation to Pay Bill Deposit of the Magna Carta for Electricity Consumers as amended by ERC Resolution No.28 Series of 2010, OEDC will also be imposing the required Bill Deposits (BD) for its existing customers.
What is Bill Deposit (BD)?
The Bill Deposit is an amount required from all customers of distribution utilities as a guarantee for payment of electric bills. (This is similar to the advance deposit required from a tenant who rents an office or an apartment.)
How will OEDC implement Bill Deposit Collection?
A bill deposit is required from the following:
• Customers applying for new and additional electric service; Amount is estimated based on the applied load.
• Disconnected customers applying for reconnection, and who were previously not subjected to BD.
• Existing customers who have previously availed of the refund of BD due to prompt payment for the past three (3) years and who later defaulted in payment of his monthly bill/s.
• Existing customers without BD who fails to pay on or before due date starting November Bill (Billing Period – November 14 onwards).
Bill Deposit may be adjusted for:
• Existing customers applying for an increase in load/ capacity;
• Existing customers every year thereafter whose actual average monthly bills for the past twelve (12) months are more or less than ten (10) percent of the initial BD, such deposit shall be correspondingly increased/decreased to approximate said billing.
Does this Bill Deposit earn interest?
The BD earns interests, in accordance with the existing rules of the ERC. Distribution utilities like OEDC shall pay interest on cash BD equivalent to the peso savings account interest rate of the Land Bank of the Philippines on the first working day of the year or other government banks subject to the approval of ERC.
Who are qualified for a refund of their Bill Deposit?
Customers are qualified to refund their bill deposit on the following conditions as per Article 7 – Right to a Refund of Bill Deposits of the Magna Carta for Electricity Consumers:
• Customers with good payment record of consistently paying on or before the due date for three (3) consecutive years from the date of payment of their BD are eligible to avail of the refund of their bill deposit and accrued interest.
• Upon termination of service contract with OEDC
However, under the rules of the ERC, a bill deposit previously refunded in full prior to the termination of service may be re-imposed if the customer defaults in the payment of his monthly bill on the due date. Further, once the bill deposit is re-imposed, the customer loses the right to refund the same prior to the termination of his electric service.
For more details and inquiries, please visit OEDC offices or call our hotline no. (047) 222-9410.
Thank you.