During May, several Jamaica Public Service Company Ltd. (JPS) "good-paying customers" will receive a full refund of their deposit.

Customers who consistently paid their bills in full and on time between June 2004 and June 2006 will be rewarded with a full refund of their deposits, said the company in a release issued this week.

The company will pay out more than $4 million in refunds, as more than 2,500 customers are to geta full refund of their security deposits.

The deposit refund will be reflected in bills customers receive during this month. That is, the difference will be deducted from the customers' bills.

An approximate figure of the deposit amount is $1,500, which has been the cost asked bythe company within the lastseven years.

Both residential and business customers who qualify will benefit from the refund of deposits.

JPS requires a security deposit from all applicants opening an account. However, JPS is the only utility that now pays interest on deposits on an annual basis. The interest is derived from the average treasury bill rate each year.

Last year, JPS introduced a telephone bill payment facility and a text messaging service that sends reminders to customers with overdue bills. The company had earlier introduced an electronic service that sends customers their bills by email.

Winsome Callum, JPS head of corporate communication, said the company is somewhat disappointed at the relatively modest number of customers who will be benefiting from the refund.

"But we hope that this initiative will be an incentive to others to consistently pay their bill in full and on time," said Miss Callum.