Maine utility deposit bonds.
From $100.
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 amount, up to the two highest billing periods it expects from your account in 12 months. Premiums cost 2% of the bond amount, $100 minimum.
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How much does a Maine utility deposit bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. 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. No credit check up to $15,000.
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 no credit check up to $15,000.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
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 sets the price
The premium is 2% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $15,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued instantly.
These are the actual issuing fields. No credit check up to $15,000. Enter the amount CMP's deposit notice quoted you.
Start the application →Common questions.
Other Maine bonds.
Price and requirements checked on the carrier’s application, . Page updated .
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.