An amount is considered in arrears if it remains unpaid after the 7th day of the month immediately following the month during which the amount became due for payment. Interest is charged at 2%, calculated monthly on the arrears.
Such interest is specified on the invoice, and a notice to the effect that arrears amounts will bear interest is printed on the monthly invoice. This notice is also contained in the standard terms and conditions that apply to the agreement for the supply of electricity/water by Impact Meter Services.
As deposits are continually being applied for electricity/water consumption until payments are received from consumers, no interest is paid on consumer deposits held by Impact Meter Services.