BVIEC Clarifies Security Deposit Policy And Urges
The British Virgin Islands Electricity Corporation has clarified its security deposit review process following recent public discussion, emphasizing that the requirement is a long-standing policy rather than a new measure. Customers have until July 31, 2026, to clear pending balances or arrange payment plans before disconnections begin in August, and are strongly urged to update their account contact details.
The British Virgin Islands Electricity Corporation (BVIEC) has provided further clarity on its customer security deposit procedures and is urging all account holders to ensure their contact details are up to date, following recent community discussions regarding deposit adjustments.
Addressing public queries, BVIEC emphasized that the security deposit requirement is not a new policy. Instead, it forms part of the utility provider's established account management framework, which periodically reviews customer accounts to ensure security deposits align with actual electricity usage.
Under the policy, deposits are adjusted to reflect twice the estimated monthly electricity bill to protect against unpaid final balances when accounts are closed. The corporation noted that the last comprehensive review took place more than five years ago, making the current adjustment initiative necessary for responsible account management.
The adjustment initiative, which was officially launched on March 9, 2026, applies to selected accounts including commercial clients and rental properties where electricity service was transferred into a tenant's name. BVIEC clarified that all security deposits, including recent adjustments, remain fully refundable once an account is formally closed in good standing with no outstanding arrears.
To assist consumers who may find it challenging to settle the adjusted amounts immediately, BVIEC established a four-month payment plan allowing balances to be paid in equal installments. However, the corporation reminded customers that all pending security deposit balances must be paid in full or maintained under an active payment agreement on or before Friday, July 31, 2026.
Customers who fail to settle their balances by the July 31 deadline risk service disconnections beginning in August 2026. If an account is disconnected, power will only be restored once the outstanding deposit is settled in full, alongside any overdue electricity bills and applicable reconnection fees.
Because some customers reported being unaware of the initiative despite direct outreach and public notices, BVIEC is appealing to all residents and business owners to contact its Customer Service Unit to update their telephone numbers and email addresses. Accurate contact details are vital for receiving timely billing reminders, outage alerts, and policy updates ahead of the July cutoff.
Primary source: BVI Electricity