Payment Security Policy Consultation
NIE Networks is required to have a Payment Security Policy that describes the security cover arrangements and debt recovery procedures in place with electricity suppliers. The Policy allows NIE Networks to recover some or all monies owed by a supplier in the event of a payment default.
NIE Networks is now proposing changes to the Policy that was approved by the Utility Regulator in 2014. These changes are in relation to the company name change to NIE Networks (from just “NIE”). In addition there are changes relating to cash deposits and the opening of bank accounts (Section 5 of the Schedule to the Payment Security Policy). This section has been revised to reflect that the cash deposit account will be held in NIE Networks’ name with payment being made against NIE Networks’ signature if it is needed to pay any monies owed.
View a marked-up version of the Payment Security Policy
showing the above mentioned changes.
Interested parties are asked to provide comments to Carl Hashim (email@example.com
) by 5pm on Friday 28 February 2020.