Salt River Electric deposit bonds.
From $100. Enter your amount.
Instead of tying up cash as a security deposit, a member of Salt River Electric Cooperative Corporation — serving Bullitt, Nelson, Spencer, and Washington Counties — can post a utility deposit bond in place of it. Under the Kentucky Public Service Commission’s general rules at 807 KAR 5:006, Section 8, a regulated utility may require a deposit to secure payment of bills, and accepts a surety bond as an alternative to 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 the co-op. Here is the whole thing:
Apply online
Your details, the deposit amount Salt River Electric Cooperative required, and the effective date — that is the entire application.
Issued on the spot
No long wait — the executed bond is generated as soon as you pay. Larger amounts may get a quick review.
File with the co-op
Submit the executed bond to Salt River Electric Cooperative 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
Salt River Electric Cooperative Corporation is a member-owned rural electric cooperative serving Bullitt, Nelson, Spencer, and Washington Counties in central Kentucky since 1937, and — like every investor-owned and municipal utility regulated by the state — it is subject to the Kentucky Public Service Commission’s general service rules. 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 a surety alternative to that cash deposit — the “other guaranty” the regulation contemplates. Instead of leaving cash sitting with the co-op, sometimes for years, you post a bond for the same amount. The co-op is the obligee, and the bond guarantees payment of your utility charges up to the bond amount.
Where actual usage history exists, 807 KAR 5:006 calculates the deposit from your average bill over the most recent 12 months, and caps it at two-twelfths (2/12) of your actual or estimated annual bill for monthly billing (three-twelfths for bimonthly, four-twelfths for quarterly). If bills go unpaid and the co-op is harmed, it can recover against the bond — and if the surety pays, you repay the surety. We issue the amount Salt River Electric Cooperative 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 Salt River Electric Cooperative 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 Salt River Electric Cooperative required and keep your cash free.