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Legal Gujarat Ministry of Power Electricity Act, 2003

Amendment in Security Deposit Regulations, 2005

06-Dec-2023 | NO. 04 OF 2023

Government of Gujarat has issued Gujarat Electricity Regulatory Commission (Security Deposit) (Third Amendment) Regulations, 2023, amending provision under Gujarat Electricity Regulatory Commission (Security Deposit) Regulations, 2005, effective from 6th December, 2023.

Key Highlights of the Amendments are:
1. Under Chapter 4 [Security Deposit for the electricity supplied / to be supplied] clause 4.11 of the Gujarat Electricity Regulatory Commission (Security Deposit) Regulations, 2005, shall be substituted which says, the licensee providing electricity will pay interest on Security Deposit of consumer. This interest will be at the Bank Rate notified by the Reserve Bank of India or a higher rate set by the Commission. The interest earned in the previous year will be adjusted in the May electricity bills for monthly billing customers and in May or June for those billed every two months.
2. Under Chapter 4 [Security Deposit for the electricity supplied / to be supplied] clause 4.14 of the Gujarat Electricity Regulatory Commission (Security Deposit) Regulations, 2005, shall be substituted which says, if the agreement between the customer and the licensee is terminated, the security deposit will be refunded within 7 days after deducting any outstanding dues.

Please refer to the attached document for more details.

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