If you are required to to file a Progess Energy Utility Bond in order to guarantee electric services bill payments, you will need to apply for Carolina Power and Light Corporation dba Progress Energy Carolinas, Inc. Utility Bond as a condition of turning on power services.
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 South Carolina Progress Energy Utility Bondholds you accountable for your business decisions.
By possessing a South Carolina Progress Energy Utility Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.