ELECTRIC POWER DEBT PAYABLE IN 120 INSTALLMENTS

26. July 2013.

Today, the Managing Board of the Electric Power of Serbia (EPS) adopted a decision on restructuring of the electric power debt, according to which the debtors would be able to pay the old debts in as many as 120 installments. According to the EPS, the new possibility of rescheduling the debt will be available from August 15 to November 30, 2013.

"This is the final rescheduling and the last chance for debtors to resolve their accumulated debts," the people from the company said, adding that the new option of rescheduling was adopted on the initiative of the Ministry of Energy, Development and the Environment.

An old debt is an electric power debt due on May 31, 2013, but which wasn’t settled by July 31, 2013. If a debtor chooses to pay 60 percent of the debt, 40 percent of his/her debt will be written off right away. Depending on the amount of debt, old debts can be settled within the range from 12 to 120 installments.

The rescheduling that includes up to 60 installments involves the writing- off of a portion of the debt, which ranges from 15 to 35 percent. Payment of the debt ranging from 60 to 120 installments doesn’t include debt relief. During the rescheduling period, interest on the amount of the rescheduled debt won’t be charged.

A debtor may sign the agreement on debt rescheduling if he/she turns to the local electric power distribution office, while one of the conditions is the settlement of electricity bill for the month of June. All debtors can conclude the agreement on debt rescheduling, even those who were sued and those whose debts are to be paid by using coercive measures, provided that they compensate to the electric power distribution company all the costs of legal proceedings.

All debtors that previously signed agreements on debt rescheduling, if they wish, may get in touch with the electric power distribution office in order to have their agreements adjusted to the new and more favorable terms of debt settlement.

If a customer fails pay two consecutive installments after the warning, the contract on debt rescheduling will be canceled and the entire debt with the interest will be computed, as if the agreement hadn’t been concluded at all. The agreement shall contain a provision, according to which it will made clear to the customer-debtor that by signing the agreement, he/she recognizes the full amount of the old debt, and that in the event of termination of the agreement, he/she won’t raise an objection of limitation on the remaining debt.

Source: Tanjug