The BVI Electricity Corporation (BVIEC) has informed its customers that beginning Monday, March 9, 2026, the Corporation will be reinforcing its long-established Security Deposit Policy. Photo: VINO/File

The BVI Electricity Corporation (BVIEC) said there has been a rise in delinquent accounts. Photo: VINO/File

Corporate Services Manager of BVI Electricity Corporation (BVIEC), Mrs Tamara George-Barry, explained that the initiative is necessary to ensure fairness and financial responsibility across all customer accounts. Photo: BVIEC/File

A security deposit is a refundable payment required from customers renting properties in their name. The amount is equal to twice the estimated monthly electricity bill. According to BVIEC, it is not a fee and does not represent an additional charge.

The deposit simply acts as a safeguard on the account and is refunded in full once any outstanding bills are finalised or paid in full, BVIEC stated in a press release on February 9, 2026.

Increase in delinquent accounts

This action, according to BVIEC, does not introduce new fees nor does it represent an increase, but rather the continued enforcement of an existing policy in accordance with BVIEC’s Financial Policy, following an increase in delinquent accounts.

Speaking on the matter, Corporate Services Manager, Mrs Tamara George-Barry, explained that the initiative is necessary to ensure fairness and financial responsibility across all customer accounts.

“The security deposit policy has long been part of BVIEC’s operating framework. 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,” Mrs George-Barry stated.

Security Deposit

New customers renting properties are required to lodge a minimum security deposit of $200 when opening an account. After six months, the account is reviewed, and the actual security deposit is recalculated as twice the estimated monthly electricity bill. Any difference will be billed or adjusted accordingly.

If the current deposit is less than the recalculated amount, customers will only be required to pay the difference. For example, if the original deposit was $200 and the new calculated amount is $250, only the additional $50 will be billed.

BVIEC said updated deposits will be reflected in bills generated from March 9, 2026, onward. Deposit increase payments will be made in monthly instalments, in addition to the current bill, over a period of four months.

Why enforcement now?

BVIEC said it routinely reviews customer accounts as part of its Financial Policy, and that all accounts are examined every six months, with delinquent accounts reviewed weekly. The last mass review of security deposits, it said, occurred approximately five years ago, "making this enforcement both timely and necessary".

According to Public Relations and Marketing Media Manager, Kamal Haynes, the Corporation is committed to transparency and customer understanding throughout the process.

“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. Our goal is to communicate openly with customers and work with them, including offering payment plans where needed,” Haynes said.