Mississippi Power utility deposit bonds.
From $100.
When Mississippi Power Company requires a security deposit for electric service under its Rules Governing Electric Service, filed with the Mississippi Public Service Commission, a surety bond can stand in for the cash. The premium on our bond is 2% of the deposit amount, with a $100 minimum.
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How much does a Mississippi Power 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.
No underwriting queue for the standard utility deposit bond — enter your amount, pay, and deliver the executed bond to the company. Here is the whole thing:
Apply online
Your details, the service address, the deposit amount Mississippi Power set, and the effective date — that is the application.
Issued on the spot
Most applications approve instantly and the executed bond is generated as soon as you pay. No credit check up to $15,000.
File with Mississippi Power
Deliver the executed bond to the company in place of the cash deposit so your service can start or continue. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually does
Mississippi Power Company is the investor-owned electric utility headquartered in Gulfport, serving roughly 23 counties in southeast Mississippi. Its rates and service practices, including deposits, are set out in the company's Rules Governing Electric Service, filed with the Mississippi Public Service Commission and available on request from the company's general office or any local office.
Under those rules, no initial deposit is required of a residential customer unless the company judges one necessary to guarantee payment for service — a new or reconnecting account, an account with a poor payment history, or certain commercial accounts. A utility deposit bond is a surety bond the company can accept in place of that cash deposit: it guarantees that if you fail to pay your electric bill, the company can recover the unpaid amount up to the bond's limit.
It is not insurance for you — if the surety pays Mississippi Power on an unpaid balance, you repay the surety. We issue the amount the company set; the premium is 2% of that deposit, with a $100 minimum.
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 Mississippi Power. Deliver the executed bond to the company in place of the cash deposit so your service can start or continue. Wet-ink originals 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 on the spot.
Submit the application with the deposit amount Mississippi Power Company required — the executed bond is generated instantly, ready to deliver.
Start the application →Common questions.
Other Mississippi bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Utility deposit bond, issued today.
Premium is 2% of the deposit amount, $100 minimum. Enter the deposit Mississippi Power required and keep your cash. Free until issued.