Wisconsin We Energies Utility Deposit Bond
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How much does a utility deposit bond cost in Wisconsin?
We Energies in Wisconsin requires certain customers to post a surety bond in lieu of a deposit for utility services. Typically, the required amount of the bond is equal to the amount of the cash deposit request, but applicants should verify their required amount of bond coverage with the utility company prior to bonding.
SuretyBonds.com issues these bonds for varying prices depending on underwriting criteria. The best way to find out how much you’ll pay for your We Energies surety bond is to fill out an online bond request.
Why do I need this bond?
If a principal (utility customer) does not remain in compliance with We Energies’ rules and regulations and develops an accumulation of unpaid bills for electric services, this bond will be used to compensate We Energies for monies owed to the company. The principal is ultimately required to reimburse the surety for any money paid to the utility company.
What’s the fine print?
A We Energies deposit bond should be for two years and in the same amount as the cash deposit request.
If We Energies does not receive payments on time, a letter will be sent to the surety to request payment. A utility surety bond cannot be changed without agreement from the customer (principal), the surety and We Energies.
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