Electricity debt in 120 installments - EPS decides on reprogram

The Management Board of the Electric Power Industry of Serbia has adopted today a decision on electricity debt reprogramming thus enabling debtors to pay old debt in 120 installments.

New reprogramming option will be possible as of August 15 until November 30 this year, EPS announced.

- This is a final reprogram and the last chance for non-payers to solve accumulated debt issue- the company announced adding that new reprogramming option was adopted through the initiative of the Ministry of Energy, Development and Environmental Protection, the company said.

The old debt anticipates electricity debts due May 31 which have not been settled until July 31.

A debtor who opts for paying 60% of debt at once will be entitled to 40% of debt acquittance. The old debts, depending on the amount, can be settled in a range from 12 to 120 installments.

A reprogram of up to 60 installments anticipates debt acquittance ranging from 15 to 35%. Debt payment in the range from 60 to 120 installments does not include debt acquittance.

During reprogram, interest rate is not calculated in the reprogrammed debt amount.

In order to sign a contract on reprogram, a debtor must address the local distribution and one of the terms is to settle monthly electricity consumption bill for June.

The contract on reprogram can be signed by all debtors, even the ones undergoing court procedures or foreclosure process provided that a debtor compensate for all procedure costs to the distribution company.

All debtors who have previously signed contracts on reprogram, if they want, they can turn to a local distribution in order to adjust it to new, more favorable debt settling terms.

If a consumer does not settle two installments successively even after the warning, a contract on reprogramming will be terminated and an overall debt will be calculated with an interest rate as if the contract has not been concluded.

The contract will contain a clause which informs a consumer-debtor that by signing the contract he accepts the overall debt amount and that, in case of contract termination, he will not use objection of limitation for the remaining debt portion.