Pennyrile RECC deposit bonds.
From $100. Enter your amount.
Instead of tying up cash as a security deposit, a member of Pennyrile Rural Electric Cooperative Corporation can post a utility deposit bond in place of it. Pennyrile RECC is a member-owned electric distribution cooperative serving parts of southwestern Kentucky, and — like other Kentucky Public Service Commission–jurisdictional utilities — may require a deposit under the PSC’s general rules at 807 KAR 5:006, Section 8, which also permits a bond as the "other guaranty" in place of cash. The bond is priced at 2% of the bond amount, $100 minimum — your exact price appears at the application.
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Apply to filed in one sitting.
No underwriting queue for the standard utility deposit bond — enter your amount, pay, and give the executed bond to Pennyrile. Here is the whole thing:
Apply online
Your details, the deposit amount Pennyrile RECC required, and the effective date — that is the entire application.
Issued on the spot
No waiting — the executed bond is generated as soon as you pay, after a quick soft credit pull that never affects your score. Larger amounts may get a brief review.
File with Pennyrile
Submit the executed bond to Pennyrile RECC in place of your cash deposit. Wet-ink originals mailed whenever the co-op insists.
What it is and who needs it.
What the utility deposit bond actually does
Pennyrile Rural Electric Cooperative Corporation is a member-owned electric distribution cooperative serving parts of southwestern Kentucky. As a Kentucky Public Service Commission–jurisdictional utility, it is subject to the PSC’s general service rules, and under 807 KAR 5:006, Section 8, "a utility may require from a customer a minimum cash deposit or other guaranty to secure payment of bills" — most often for a new account without an established payment history, or one re-establishing service.
A utility deposit bond is the surety alternative the regulation contemplates as "other guaranty." Instead of leaving cash sitting with Pennyrile, sometimes for years, you post a bond for the same amount. Pennyrile is the obligee, and the bond guarantees payment of your utility charges up to the bond amount.
Where billing history exists, 807 KAR 5:006 calculates the deposit from your average bill over the most recent 12 months, capped at two-twelfths (2/12) of your actual or estimated annual bill for monthly billing. If bills go unpaid and Pennyrile is harmed, it can recover against the bond — and if the surety pays, you repay the surety. We issue the amount Pennyrile set, priced at 2% of the bond amount, $100 minimum, freeing up the cash you would otherwise have on deposit.
You need this bond if you are
One application, issued on the spot.
Submit the application with the deposit amount Pennyrile RECC set — the executed bond is generated instantly, ready to give the co-op in place of cash.
Start the application →Common questions.
Other Kentucky bonds.
Skip the cash deposit.
Pricing from $100. Enter the deposit Pennyrile RECC required and keep your cash free.