ME utility deposit bonds.
2% of the bond amount.
A non-residential Central Maine Power customer can post a surety bond instead of a cash deposit under Maine Public Utilities Commission rule 65-407 C.M.R. ch. 815, §7. CMP sets the required amount — up to the two highest billing periods it expects from your account in a 12-month span. Premiums cost 2% of the bond amount, $100 minimum; the application collects no credit information, and enter your required amount to see your exact price.
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Apply to filed in one sitting.
A CMP deposit bond is a short form with one number to get right — the amount CMP quoted you. Here is the whole thing:
Apply online
Your business details, the deposit amount Central Maine Power requires, and the effective date. The application collects no credit information.
Issued
Most utility deposit bonds at this size clear right after purchase. Because CMP sets the ceiling at two billing periods, a very large requested amount may get a brief review — usually within 48 hours.
File with Central Maine Power
Your executed bond arrives by email, ready to send to CMP in place of a cash deposit. Wet-ink original mailed on request.
What it is and who needs it.
What the utility deposit bond actually guarantees
Maine utilities can require a new or higher-risk customer to secure their account with a deposit before starting or continuing service. The Public Utilities Commission's consumer-protection rule, 65-407 C.M.R. ch. 815, §7, lists the forms that deposit may take — cash, an irrevocable bank letter of credit, or a surety bond — and reserves the bond option for non-residential applicants and customers.
It is a three-party arrangement: you (the principal), the surety carrier, and Central Maine Power (the obligee). If your account goes unpaid, CMP can draw on the bond up to its face amount rather than holding your cash. The bond frees the working capital a cash deposit would otherwise tie up.
The rule caps the amount CMP may demand at the sum reasonably anticipated for your two highest billing periods within a 12-month span — CMP calculates this from your account history, or, for a new location, from a comparable business's usage. Enter the figure CMP quoted you; we price the bond from a $100 minimum, and the application collects no credit information.
You need this bond if you are
One application, issued instantly.
These are the actual issuing fields, and the application collects no credit information. Enter the amount CMP's deposit notice quoted you.
Start the application →Common questions.
Other Maine bonds.
Skip the cash deposit with CMP.
2% of the bond amount, $100 minimum. Enter the amount CMP quoted and file the same day. Free until issued.