The New York Department of Public Service has released new financial requirements for all energy brokers and energy consultants operating in the state. As mandated by Public Service Law §66-t, all energy brokers and consultants must demonstrate proper financial responsibility. The easiest way to meet this new requirement is by securing a surety bond.
Bonds Express offers a New York Energy Consultant and Broker Bond with a 99% approval rate.
The required bond type and amount depend on your specific role as defined by the state:
| Role | Bond Amount | Definition |
|---|---|---|
| Energy Consultant | $50,000 | An individual or company that helps customers evaluate, negotiate, or secure electricity or natural gas contracts. Consultants may also act on behalf of an energy service company in arranging or accepting contracts. |
| Energy Broker or Both Roles | $100,000 | A non-utility company that helps customers or energy service companies manage or purchase electricity or natural gas. Brokers handle contracts and coordinate services (like supply or transportation) but do not take ownership of the energy or sell it directly to customers. |
Ensure your business is compliant with the new state requirements. Click below to apply for your New York Energy Broker or Consultant Bond and receive a free, fast quote.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The New York Energy Consultant and Broker Bond holds you accountable for your business decisions.
By possessing a New York Energy Consultant and Broker Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.