New Mexico PNM utility deposit bonds.
From $100.
When Public Service Company of New Mexico (PNM) requires a deposit to connect or continue electric service, a surety bond can stand in for the cash. PNM sets the deposit amount from your service history or estimated usage. Pricing is 2% of the bond amount, $100 minimum.
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How much does a New Mexico PNM 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 long underwriting queue for the standard PNM deposit bond — enter your amount, pay, and deliver it to PNM. Here is the whole thing:
Apply online
Your details, the service address PNM is billing, and the deposit amount from your PNM notice — that is the application.
Approved
Most PNM deposit bonds clear quickly. No credit check up to $15,000. If a check ever runs, it is a pricing is 2% of the bond amount, $100 minimum.
Deliver to PNM
Your executed bond arrives by email, ready to submit to PNM so it can release the cash-deposit hold on your account. Wet-ink originals mailed on request.
What it is and who needs it.
What the PNM deposit bond actually covers
Public Service Company of New Mexico (PNM) is the state's largest investor-owned electric utility, and like other regulated utilities it can require a customer to post security before it connects or continues service — most often for a new account without an established payment history, an account with prior late payment or non-payment, or a location whose usage carries meaningful billing risk. PNM's rates and service practices, including its deposit rules, are on file with and subject to the New Mexico Public Regulation Commission (NMPRC).
A surety bond is one accepted way to satisfy that requirement without tying up the full amount in cash. It is a three-party arrangement: you (the principal), the surety carrier, and PNM (the obligee). If the account goes unpaid, PNM can recover against the bond up to its penal sum — and if the surety pays, you repay the surety. It is not insurance for you.
This is a contractual/tariff requirement set by PNM, not a statewide statute with a single fixed figure — PNM tells you the deposit amount on its own notice, typically sized to your estimated or historical usage at the service address. Enter that figure; we price the bond at 2% of the bond amount, $100 minimum, and your exact price appears at the application.
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
Deliver to PNM. Your executed bond arrives by email, ready to submit to PNM so it can release the cash-deposit hold on your account. 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 instantly.
These are the actual issuing fields, including the service address PNM is billing and the deposit amount from PNM's notice. Your price — 2% of the bond amount, $100 minimum — is set at application.
Start the application →Common questions.
Other New Mexico bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Skip the cash deposit with PNM.
Premiums from $100. Enter the amount on your PNM notice and deliver the bond the same day.