Electricity consumers are entitled to receive a payment for the security deposits under the Section 28 of Electricity Act No.20 of 2009, where it describes the Distribution Licensee (CEB or LECO) to pay interest on such sum of money at the rate approved by the Public Utilities Commission of Sri Lanka (PUCSL) for the period in which security deposit remains in the hands of the licensee.
The PUCSL has also announced the interest rate for the year 2018.
No interest paid in 10 years
However, this interest has not been paid to the consumers in the last 10 years.
The PUCSL has estimated that the total of the deposit and interest amount is around Rs 23 billion.
The Electricity Consumers' Association has urged the ministry to cover the pending energy bills from this built up interest.
Seperate billsMeanwhile, the PUCSL yesterday (11) informed the CEB and LECO to issue separate bills for the months of April and Many and provide a relief period for the consumers to settle them.
The PUCSL has also decided to implement a concessionary tariff scheme for consumers who have used less power units.
The PUCSL is also to inform the CEB and LECO not to disconnect power supplies and not to charge fines or interest until the electricity bills are settled.
PUCSL DG Damitha Kumarasinghe is to issue these recommendations today.
Extend vehicle insurance
Meanwhile insurance clients have also urged to extend the insurance validity of their vehicles for a period of two months as it has been impossible to renew their insurance period in the wake of the Covid-19 outbreak.
The request has been made to insurance companies including Sri Lanka Insurance.
It is said that this request has been made by the insurance companies including the National Insurance Corporation.
They point out that the insurance companies should provide this relief as a large sum is paid as full insurance.
Meanwhile, in April, the Insurance Regulatory Commission of Sri Lanka (IRCSL) granted a three-month extension to both life and general insurance policyholders to settle their premiums, as a relief measure amidst the Covid-19 pandemic.
The extension period will be applicable for policies commenced/commencing from March 01 - June 30.
(Source : Aruna)