BVIEC Enforces Security Deposit Policy, Offers Installment
The British Virgin Islands Electricity Corporation (BVIEC) has announced it will reinforce a long-standing security deposit policy effective Monday, March 9, 2026, in response to rising delinquent accounts. The corporation says this is not a new fee and will offer payment arrangements, including spreading any required deposit increases over four months, with updated amounts appearing on bills from March 9.
The British Virgin Islands Electricity Corporation (BVIEC) has said it will begin consistently enforcing a long-established security deposit policy starting Monday, March 9, 2026, as it responds to an increase in delinquent customer accounts. BVIEC made the announcement in a statement first reported by BVI News and also detailed on the Virgin Islands Daily News website.
The utility emphasised that the action does not introduce new fees or increase charges but reflects the continued application of its existing Financial Policy to protect cash flow and maintain reliable service across the Territory. Corporate Services Manager Tamara George-Barry told the press that "the security deposit policy has long been part of BVIEC's operating framework" and that "with the rise in delinquent accounts, it is important that we apply this policy consistently to protect the corporation's ability to continue delivering reliable service to all customers," according to the BVIEC release reported by both outlets.
Under the policy, customers who open accounts in their name for rented properties must pay a refundable security deposit equal to twice the estimated monthly electricity bill. New customers will pay a minimum deposit of $200 when opening an account; after six months the account is reviewed and the actual deposit is recalculated as twice the estimated monthly usage, with any difference billed or credited accordingly.
Existing customers who previously paid deposits will only be required to pay any shortfall if their current deposit is less than the recalculated amount. For example, if a customer initially paid $200 and the recalculation shows a $250 requirement, they would only be billed the additional $50, the corporation said.
BVIEC noted that updated deposit amounts will be reflected on bills generated from March 9, 2026, onward. The company also said it conducts routine reviews of customer accounts every six months and reviews delinquent accounts weekly; its last mass review of security deposits was approximately five years ago.
Public Relations and Marketing Media Manager Kamal Haynes reiterated that "we want to be very clear that this is not a new charge. It is the enforcement of a longstanding policy that helps ensure fairness across all accounts," and said BVIEC aims to communicate openly and work with customers.
The Virgin Islands Daily News report adds that customers who face higher deposit requirements will be able to spread the increase in monthly instalments over a period of four months in addition to their current bill. Customers seeking more information or assistance are encouraged to visit BVIEC's Long Bush or Virgin Gorda offices or call 284-852-4600 during business hours.
BVIEC reminded residents that security deposits are refundable and will be returned in full once any outstanding bills are finalised or paid in full. BVIEC thanked customers for their understanding as it moves to apply the longstanding policy to help preserve service reliability for all residents of the Territory.
Primary source: BVI News