Pennsylvania Electric Generation Services Bond
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What Is an Electric Generation Services Bond?
Electric generation service bonds are required by the Commonwealth of Pennsylvania Public Utility Commission to protect utility customers. They ensure that suppliers follow the stipulations of the Electricity Generation Choice for Customers of Electric Cooperatives Act.
These bonds are also known as:
- Electric marketers and brokers bonds
- Electric services bonds
- Energy generation services bonds
- Energy broker bonds
What Are the Bond Requirements for Pennsylvania Electric Brokers and Marketers?
New license applicants need $250,000 Pennsylvania electric broker bonds. After that, the required bond amount is reviewed annually based on gross receipts for the previous year.
In some cases, a $10,000 bond is sufficient. Before purchasing, verify your coverage needs with the Pennsylvania Public Utility Commission.
How Much Do Pennsylvania Electric Broker Bonds Cost?
You can purchase a $10,000 energy marketer and broker bond instantly online for $120. Bond amounts greater than $10,000 require a quick online application to determine pricing.
Select the bond you need to get an instant, personalized quote:
If you have any questions, call SuretyBonds.com at 1 (800) 308-4358.
How Do Energy Generation Services Bonds Work?
Energy generation services bonds ensure suppliers will not misinform customers while providing electric services. The surety company protects customers from financial damages suffered as a result of the supplier’s unethical and unlawful business practices.
How Long Will My Bond Last?
Electric generation marketer and broker bonds are set to expire on a date determined by the Public Utility Commission but may be extended with a continuation certificate. The surety must give the commission 60-days' notice prior to canceling a bond.
How Do I Get an Electric Generation Services License in Pennsylvania?
Request an Pennsylvania electric broker license application form from the Public Utility Commission. You’ll need to provide the following information:
- Identity and contact information of applicants and predecessors
- Attorney information, if applicable
- Business entity name and address
- Type of business entity
- Applicant’s present operations
- Applicant’s proposed operations, services and service area
- Approximate start date
- Surety bond
- Proof of financial and technical fitness
- Agreement of annual reporting of gross receipts and percentages of total electricity supplied by each fuel source
- Tax certification statement
- Affidavit, if applicable
Start the licensing process by purchasing your surety bond today!
Have Questions?
Call 1 (800) 308-4358 to talk with a Surety Expert today.
