Following the Resolutions 86/2013 and 543/2013 by AEEGSI (Regulatory Authority for Electricity, Gas and Water) which modify and integrate the Charter of Service, we inform you about the new regulation regarding the security deposit which was enforced on 1st June 2014 both for existing and new contracts.
The AEEGSI has regulated the introduction, by the provider, of a security deposit as collateral of the contractual obligations as partial cover of arrears risk. The security deposit is therefore a safeguard for potential insolvencies and complies with an equity principle, seeing as the burden of arrears, ultimately, falls on the entirely on the customers. The security deposit is determined on past usage and account type.
Upon signing the contract, the provider will apply 50% of the total deposit; the remaining amount will be divided into two instalments to be paid with the first two bills.
With effect from 1st June the security deposit will be adjusted for all the active accounts. The amount will be divided in two instalments to be paid with the next two bills.
The obligation to pay a security deposit does not apply to customers with a yearly usage up to 500 mc who have selected direct debit as payment method.
In case of account cancellation, the deposit will be refunded in the final bill; in case of direct debit activation, it will be refunded in the first available bill after the direct debit activation.
The refund of the deposit for account cancellation will include the legal interest accrued.
For those customers who have already paid a deposit, the provider will make the necessary adjustments starting with the first available bill after the introduction of the deposit regulation.
For current accounts the deposit will equal the amount of three months of the yearly usage.
For commonhold residential developments (i.e. two or more housing units connected to the same meter) the deposit is 60% of the total amount of the deposits for all the units.