MSEDCL Pays Rs 115 Crore To 80 Lakh Electricity Consumers As Interest On Security Deposit In Western Maharashtra

Pune, 3rd June 2022: Pune, Kolhapur, Solapur, Sangli, Satara and in Solapur district under Pune Regional Division on interest on security deposit with Maharashtra State Electricity Distribution Company Limited (MSEDCL), Rs 114 crore 66 lakh is being reimbursed from 80 lakh 41 thousand 189 high and low voltage customers.

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In this, the refund of Rs 92.63 crore has been adjusted in the electricity bills for the month of May, while the refund of the remaining Rs 22.3 crore is being paid in the bills for the month of June.

As per the directions of the Maharashtra Electricity Regulatory Commission, it is mandatory for all categories of consumers to deposit security deposit with MSEDCL. As per Exchange 13.1 of the Commission’s Power Supply Code, 2021, the security deposit is levied on electricity consumers.

The security deposit is recalculated every year and the amount of the new security deposit is determined on the basis of the average electricity consumption of the customer for the last one year after the end of the financial year. A separate bill is issued to cover the difference between the previously deposited security deposit and the newly determined security deposit based on electricity consumption. Earlier, the security deposit was on average one bill.

Now, if the security deposit of electricity consumers is monthly bill, then there will be double the average monthly bill and if there is quarterly, there will be provision to take half of the average quarterly bill. This decision has been made by the Commission.

Also, as per exchange 13.11, interest is paid to the customer at the rate equivalent to the RBI rate on the security deposit paid by the customer by adjusting the electricity bill.

Similarly, in the year 2021-22, a total interest of Rs 114 crore 66 lakh is being reimbursed from 80 lakh 41 thousand 189 high and low voltage consumers in Pune regional division. Of this, a refund of Rs 92.63 crore has been given in May, while a refund of Rs 22.3 crore is being adjusted in the June electricity bill.

Rs 71 lakh 13 lakh to 39 lakh 2 thousand 26 consumers in Pune district, Rs 14 crore 68 lakhs to 11 lakh 86 thousand 724 consumers in Kolhapur district, Rs 8 crore 30 lakhs to 9 lakh 7 thousand 610 consumers in Satara district, Rs 9 crore 91 lakh to 91 lakh 991 consumers and 10 lakh 52 thousand 838 consumers in Solapur district are being reimbursed Rs 10 crore 64 lakhs.

In April 2021, a separate bill of the additional security deposit was issued to the concerned consumers under Pune Regional Division. Six monthly installments have been provided to pay this amount. MSEDCL has appealed for cooperation by paying the security deposit bill.