Once you opt for Security deposit instalments, your upcoming bill amount payable will include your Instalment amount and the current bill for the month. These are interest free instalments as per MERC (Electricity Supply Code and Standards of Performance of Distribution Licensees including Power Quality Regulations, 2021).
This is a voluntary payment option, and it cannot be altered once opted.
Maharashtra Electricity Regulatory commission ( Electricity supply code and standard of performance of Distribution licensee including power quality) Regulation 2021:
As per the Maharashtra Electricity Regulatory Commission (Electricity Supply Code and Standards of Performance of Distribution Licensees including Power Quality) Regulations, 2021 clause 13.1 & 13.2 (mentioned below), AEML can collect Security Deposit (SD) from Consumer as a Security against electricity bills raised every month to Customers.
Subject to the provision of sub-sections (5) of section 47 of the Act, the distribution Licensee may require any person to whom supply of electricity has been sanctioned to deposit a security in accordance with the provisions of clause of sub-section (1) of Section 47 of the Act.
The amount of the Security Deposit shall be twice the average of billing of billing cycle period for determining the average billing, the average of the billing to the consumer for the last twelve (12) months or in case supply has been provided for a shorter period, the average of the billing of such shorter period, shall be considered.
Provided that for Consumers having quarterly billing cycle, amount of the security shall be 1.5 times the average of the billing cycle period.