Current through Register Vol. 54, No. 40, October 5, 2024
Section 64.16 - Accrual of late payment charges(a) A LEC is prohibited from levying or assessing a late payment charge on an overdue bill in an amount which exceeds 1.25% per month on the full unpaid and overdue balance of the bill. These charges are to be calculated only on the overdue portions of the bill. The rate, when annualized, may not exceed 15% per annum-computed by the simple interest method-and may not include previously accrued late payment charges. A late payment charge may not be assessed against an outstanding security deposit.(b) An additional charge, fixed fee or penalty designed to recover the cost of a subsequent rebilling may not be charged.The provisions of this §64.16 adopted November 30, 1984, effective 1/1/1985, 15 Pa.B. 4354; amended July 21, 1995, effective 7/22/1995, 25 Pa.B. 2887. This section cited in 52 Pa. Code § 64.19 (relating to rebilling); and 52 Pa. Code § 64.171 (relating to duties of parties: undisputed portion of bills; interest on overpayment).