Oregon utility deposit bonds, portland general electric company - utility deposit.
From $100.
Portland General Electric (PGE) will accept a surety bond in lieu of a cash security deposit for a new or high-usage electric account, residential or business. Oregon's deposit rule, OAR 860-021-0200, preserves that option for residential service. PGE sets the amount from your estimated or historical usage; premiums cost 2% of the bond amount, $100 minimum.
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How much does an Oregon 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 a standard utility deposit bond — enter the amount PGE gave you, pay, and send the executed bond back to them. Here is the whole thing:
Apply online
No credit check up to $15,000.
Approved
Most applications for this amount approve instantly. No credit check up to $15,000.
File with PGE
Your executed bond and power of attorney arrive by email so you can submit it to Portland General Electric in place of the cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the PGE deposit bond actually guarantees
Portland General Electric is the investor-owned electric utility serving Portland and much of the northern Willamette Valley, regulated by the Oregon Public Utility Commission (PUC). Like other Oregon energy utilities, PGE may require a new customer — or an existing customer whose account has run into billing trouble — to post security for the account before establishing or continuing service. For residential service, Oregon's deposit rule, OAR 860-021-0200, expressly lets a customer offer a written surety agreement instead of tying up cash with the utility; PGE extends the same surety-in-lieu option to business accounts under its own credit policy.
It is a three-party guarantee: you (the principal), the surety carrier, and Portland General Electric (the obligee). If your account becomes delinquent and PGE is left unpaid, PGE can claim against the bond up to its face amount — and if the surety pays, you repay the surety. It protects the utility and its ratepayers against unpaid balances, not your own losses.
There is no single statewide deposit figure — for a residential account, OAR 860-021-0200 caps an energy-utility deposit at one-sixth of a customer's estimated annual billing (based on prior usage or, for a new account, the equipment or space to be served); business accounts are sized by PGE's own credit policy. PGE's Credit & Collections group sets the exact amount for your account within whichever ceiling applies. Enter the figure PGE gave you; premiums are priced at 2% of that amount, with a $100 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 PGE. Your executed bond and power of attorney arrive by email so you can submit it to Portland General Electric in place of the cash deposit. 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, no credit check up to $15,000.
Submit the application with the deposit amount PGE set for your account, including your service address and account number. No credit check up to $15,000, and most applications approve instantly.
Start the application →Common questions.
Other Oregon bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Skip the cash deposit.
Premiums cost 2% of the bond amount, $100 minimum. Enter the amount PGE set for your account and send the executed bond back the same day.