Shakopee utility deposit bonds.
2% of the bond amount.
Shakopee Public Utilities (SPU) requires every commercial and industrial electric and water customer to post a deposit before connecting service — under SPU Resolution #2023-17, that deposit equals one month's average billings. SPU's own Billing, Credit & Collection Policy lets a customer furnish a surety bond or irrevocable letter of credit, in a form acceptable to SPU, in lieu of the cash deposit. Premiums cost 2% of the bond amount, $100 minimum, and the application collects no credit information.
Trusted by industry leaders
Apply to filed in one sitting.
No long underwriting queue for the standard deposit-in-lieu bond — enter the amount SPU quoted you, pay, and file with SPU. Here is the whole thing:
Apply online
Your business details, the deposit amount SPU calculated for your account, and the effective date — that is the entire application.
Issued on the spot
No credit fields in the application and no waiting — the executed bond is generated as soon as you pay. Larger deposit amounts may get a quick review; if a check ever runs, it is a soft pull that will not touch your score.
File with SPU
Submit the executed bond to Shakopee Public Utilities in place of the cash deposit so your account clears for connection. SPU releases the bond once the account reaches a five-year good payment history or service ends.
What it is and who needs it.
What the Shakopee utility deposit bond actually covers
Shakopee Public Utilities, the municipal electric and water utility serving Shakopee, Minnesota, requires a deposit from every commercial and industrial customer before it connects permanent service, and from any residential customer who does not hold title to the property — a requirement SPU's governing Commission set under Resolution #2023-17. For a commercial or industrial account, that deposit equals one month's average billings for electric and water combined; SPU bases the figure on your prior usage history, or on a load sheet you submit if the account has none.
SPU's Billing, Credit & Collection Policy — adopted by the Commission and posted at shakopeeutilities.com — allows a customer to furnish a surety bond or irrevocable letter of credit, in a form acceptable to SPU, in place of the cash deposit. The bond guarantees SPU is made whole if the account goes unpaid; unlike a cash deposit it earns no interest while it is outstanding.
Deposits, cash or bonded, stay on the account until service ends or the customer builds a five-year good payment history — no more than three late payments and no disconnection for nonpayment in that span — at which point SPU applies it to the account and, for a bonded deposit, releases the instrument. Enter the deposit figure SPU quoted you; we price the bond at 2% of that amount, $100 minimum, with no credit section in the application.
You need this bond if you are
One application, issued on the spot.
Submit the application with the deposit amount SPU quoted you — the executed bond is generated instantly, ready to file with Shakopee Public Utilities in place of the cash deposit.
Start the application →Common questions.
Other Minnesota bonds.
Skip the cash deposit, keep your capital.
2% of the bond amount, $100 minimum. Enter the deposit SPU quoted you and file the same day.