(1) Applicant/ consumer shall pay security deposit towards supply of electricity corresponding to the sanctioned load or contract demand as the case may be, as per the rates and mode notified in the Commission’s Orders:
Provided that subject to sub-regulation (5) & (7), if there is no change in the load of the existing consumer, no additional security deposit shall be charged from the consumer:
Provided further that the Licensee shall accept the security deposit in the form of Bank Guarantee issued by any scheduled bank, from the interested applicant having contract demand of 1MVA and above:
Provided also that the consumer shall keep such Bank Guarantee alive throughout the period during which supply of electricity is availed:
Provided also that such existing consumers, if so desire, may furnish security deposit in the form of bank guarantee and the amount of security already deposited shall be adjusted/refunded by the Licensee in 12 equal installments in the bill(s).
(2) Where pre-payment meters are used to supply power, security deposit for supply of electricity shall not be collected.
(3) The Licensee shall pay to the consumer interest on the security deposit at the rate and as per the procedure notified in the Commission’s Orders:
Provided that no interest shall be paid to the consumer who has furnished security deposit in the form of bank guarantee.
(4) The interest accrued during the year shall be adjusted in the bill for the first billing cycle of the ensuing financial year.
(5) In cases of load reduction, the Licensee shall refund the excess security deposit by adjusting the same in energy bill issued in next billing cycle:
{Explanation: The excess security deposit shall be the difference of the security deposit computed based on reduced load corresponding to prevailing rates of security deposit on the date of load reduction and the actual security deposited by the consumer. In case the difference is negative, no additional security deposit shall be taken from the consumer.}
(6) In case the refund of security deposit is in excess of the energy bill, the security deposit shall be refunded in the next energy bill(s). However, the Licensee shall also adjust the interest accrued on the amount left with Licensee at the interest rate notified for interest on security deposit.
(7) In case of transfer of connection, the security deposit in the name of preceding consumer shall stand transferred in the name of new applicant:
Provided that if the existing security deposit is less than the security deposit computed based on the load corresponding to prevailing rates of security deposit on the date of transfer of connection, the new applicant shall remit the balance security deposit.
(8) In case of upward revision of sanctioned load or contract demand of consumer, the consumer shall remit the enhanced security deposit.
[PART III DELHI GAZETTE : EXTRAORDINARY 79 {Explanation: The enhanced security deposit shall be the difference of the security deposit computed based on total load after enhancement corresponding to prevailing rates of security deposit on the date of load enhancement and the actual security deposited by the consumer.}
(9) On termination of the agreement and after settlement of all the dues payable to the Licensee, the Licensee shall refund to the consumer the balance security deposit along with accrued interest up to the date of such termination within 15 (fifteen) days after the settlement of all dues payable to the Licensee through demand draft or electronic clearance system:
Provided that the consumer may opt for settlement of outstanding dues against the security deposit:
Provided further that in case of Bank Guarantee, Bank Guarantee shall be returned to the consumer within 7 (seven) days of payment of final bill.