Maryland Potomac Edison deposit bonds.
From $125.
Potomac Edison can require a nonresidential customer to post security, and its own tariff accepts a surety bond instead of the cash. Under COMAR 20.30.01, a nonresidential deposit may not exceed roughly two billing periods of estimated charges. Premiums cost 2% of the bond amount plus a $25 fee, $125 minimum.
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How much does a Maryland Potomac Edison deposit bond cost?
2% of the bond amount plus a $25 fee, from $125. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
Utility deposit bonds are simple to issue once you have Potomac Edison's quoted amount. Enter it and file:
Apply online
No credit check up to $15,000.
Approved
Most utility deposit bonds clear quickly. Pricing is 2% of the bond amount plus a $25 fee, $125 minimum. Larger amounts may get a brief review.
File with Potomac Edison
Your executed bond and power of attorney arrive by email, ready to submit to Potomac Edison in place of the cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually guarantees
A utility deposit bond is a payment guarantee that takes the place of the cash security deposit Potomac Edison can require from a nonresidential customer that is establishing new service or reestablishing credit after a payment issue. Maryland's Public Service Commission regulates the amount a utility may collect: under COMAR 20.30.01, a nonresidential deposit generally may not exceed the customer's estimated charges for two consecutive billing periods, or 90 days, whichever is less (with a minimum of $5, and larger amounts allowed for short-term or special-occasion service).
Potomac Edison is the FirstEnergy utility serving western Maryland.
It is a three-party arrangement: you (the principal), the surety carrier, and Potomac Edison (the obligee). If your account goes delinquent and the utility is owed unpaid charges it would otherwise have recovered from a cash deposit, it can claim against the bond up to the bond amount — and if the surety pays, you repay the surety. It is a credit-security backstop, not insurance for you, and it frees up the cash a deposit would otherwise tie up.
Potomac Edison's own PSC-approved tariff — rather than COMAR itself — is what lets the utility accept a surety bond as an alternative to the cash deposit; confirm the exact amount it has quoted you before applying. Premiums are priced at 2% of that amount plus a $25 fee, $125 minimum. 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 Potomac Edison. Your executed bond and power of attorney arrive by email, ready to submit to Potomac Edison in place of the cash deposit. Wet-ink originals mailed on request.
What sets the price
The premium is 2% of the bond amount plus a $25 fee, $125 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. Your price — 2% of the bond amount plus a $25 fee, $125 minimum — is set at application.
Start the application →Common questions.
Other Maryland bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Skip the cash deposit.
Priced at 2% of the bond amount plus a $25 fee, $125 minimum. No credit check up to $15,000. Enter the amount Potomac Edison quoted and file the same day.