New Mexico Public Service Company of New Mexico Electric Utility Deposit Bond
Overview
Public Service Company of New Mexico (PNM) has asked you to post a surety bond instead of paying a cash security deposit before your electric service can start or be restored. This bond — the New Mexico PNM Electric Utility Deposit Bond — satisfies that requirement and keeps your money in your pocket. It guarantees PNM that if your account falls into default, the surety will cover the outstanding balance up to the bond amount. Once you're bonded, PNM can activate or reinstate your electric account.
Who Needs This Bond?
If you've been told by Public Service Company of New Mexico that a security deposit is required to open or restore your electric service account, this bond is your alternative. Residential customers who don't meet PNM's credit threshold and commercial customers flagged for a deposit requirement both qualify as applicants. Rather than tying up cash with the utility, you post a surety bond that satisfies the same obligation. This bond applies specifically to PNM electric accounts in New Mexico — not to gas, water, or any other utility provider.
What is this Bond For?
PNM uses security deposits to protect itself against customers who leave unpaid balances when service is disconnected or an account closes. This surety bond replaces that cash deposit by putting a licensed surety behind your account obligations. If you pay your electric bills on time and maintain the account in good standing, the bond is simply never triggered. It exists as a financial backstop for PNM — not as a payment plan or a loan to you.
When is it Required?
Ongoing account status determines when this bond remains active or can be released. PNM typically requires the deposit bond at the point of account opening or service restoration after a disconnect. If your account has a history of late payments or a prior-balance write-off with any utility, PNM may require the bond before reconnecting service. The requirement stays in place until PNM determines your payment history warrants releasing the deposit obligation.
Where Does it Apply?
This bond is specific to Public Service Company of New Mexico and covers electric utility accounts within PNM's service territory across New Mexico. It is a statewide instrument tied to PNM's deposit policy — not a local municipal utility requirement. If your service address is in a city or county served by a different utility provider, you will need a bond specific to that provider.
How to Buy Online
Click 'Buy This Bond Online' on this page and the secure surety portal will open in a new tab. Enter your bond details, complete the application, and your bond documents can be issued quickly — no waiting on an agent callback. Once issued, submit the bond to PNM as instructed by your account representative to satisfy the deposit requirement.
Why Bond Titan?
Bond Titan is a nationwide surety bond storefront powered by The Southern Agency, giving you direct access to a broad catalog of utility deposit bonds — including this PNM-specific bond — without the back-and-forth of a traditional agent process. You buy online, on your schedule, and get your documents fast. We built this platform so customers who need a bond today don't have to wait until tomorrow.