New York Energy Broker and Energy Consultant Bond
New York now requires energy brokers and energy consultants to register with the state, and that registration includes a surety bond. If you help New York customers shop for or buy their electricity or natural gas supply, this page is for you. One bond form covers both roles, and the amount you need depends on which one you are. We have been writing surety bonds since 1971 and can usually approve you the same day.
If you already know you need this bond and want to move fast, call us at 800-333-7800 or get a free quote online. No obligation, and we work with all credit types.
Why New York Requires This Bond
Under New York Public Service Law Section 66-t, energy brokers and energy consultants must register with the New York State Department of Public Service. The requirement came out of the Public Service Commission's order in Case 23-M-0106, and it is designed to protect the customers who rely on these professionals to help them buy energy.
The surety bond is a core part of the registration. It guarantees that you will follow New York's rules for the industry, including the Uniform Business Practices (UBP) and the Uniform Business Practices for Distributed Energy Resource Suppliers (UBP-DERS). If you improperly collect fees, fail to pay refunds a customer is owed, or go out of business owing money, the bond gives the state a way to make those customers whole.
New York Energy Broker and Consultant Bond Amounts
New York sets the bond amount by the role you register for. There are two amounts:
- Energy Consultant: $50,000 bond. An energy consultant advises customers on their energy purchasing decisions.
- Energy Broker: $100,000 bond. An energy broker arranges or negotiates the actual purchase of energy supply on a customer's behalf.
- Both roles (dual registration): $100,000 bond. If you register as both a broker and a consultant, the higher $100,000 amount applies.
Those figures are the bond amounts, not your cost. What you pay is a premium, which is a fraction of the bond and depends on your credit and business history. Call us at 800-333-7800 for a free quote. We offer competitive rates and collect the premium once per year, not monthly.
How to Get Your New York Energy Broker or Consultant Bond
The process is quick:
- Apply. Send us a short application and tell us whether you are registering as a broker, a consultant, or both. You can start online or call us.
- Underwriting. We review your credit and basic business background to set your best rate. This is usually fast.
- Get your bond. Once approved, we issue your bond in the correct amount so you can file it with the Department of Public Service and finish your registration.
New York Registration and Filing Details
A few specifics worth knowing before you file:
- The bond is submitted to the New York State Department of Public Service, Finance and Budget Section, at 3 Empire State Plaza, 16th Floor, Albany, NY 12223-1350.
- Registration also carries a $500 annual, non-refundable fee paid to the state. The state's renewal deadline is August 31 each year.
- New York accepts an irrevocable letter of credit in place of a surety bond, but a surety bond is almost always the more affordable and practical option.
- The bond must be issued by a surety authorized to transact business in New York. Surety Bond Authority writes bonds through carriers that qualify.
- The bond is continuous. It stays in force until it is properly released or canceled, and the surety can only cancel on 90 days' advance written notice to you and the state.
When you get bonded with us, we complete the form for you in the correct amount, so there is nothing for you to fill in.
Frequently Asked Questions
Who has to register and post this bond in New York?
Any energy broker or energy consultant who helps New York customers shop for or buy electricity or natural gas supply. New York requires both roles to register with the Department of Public Service under Public Service Law Section 66-t, and the registration includes a surety bond.
What is the difference between an energy broker and an energy consultant?
An energy consultant advises customers on their energy choices. An energy broker goes a step further and arranges or negotiates the actual purchase of supply on the customer's behalf. New York requires a $50,000 bond for consultants and a $100,000 bond for brokers.
How much is a New York energy broker or consultant bond?
The bond amount is $50,000 for consultants and $100,000 for brokers or dual registrants. Your actual cost is a premium, which is a small percentage of that and depends on your credit. Call us at 800-333-7800 for a free quote.
What does the bond protect against?
It protects customers and the state. If a broker or consultant improperly collects fees, fails to refund money a customer is owed, or goes out of business owing customers, the state can recover against the bond under New York's Uniform Business Practices.
Can I use a letter of credit instead of a bond?
Yes, New York allows an irrevocable letter of credit in the same amount. Most brokers and consultants choose a surety bond because it ties up far less cash than a letter of credit. We are happy to explain the difference.
How do I get a New York energy broker or consultant bond?
Call us at 800-333-7800 or get a free quote online. Tell us whether you are a broker, a consultant, or both, and we will issue the bond in the right amount so you can complete your registration.
Get Your New York Energy Broker or Consultant Bond Today
Ready to register with the Department of Public Service? Surety Bond Authority has been writing bonds since 1971, and we make this bond fast and simple whether you are a broker, a consultant, or both. Call us at 800-333-7800 or get your free quote online. Same-day approvals are available in most cases.
Registering in another state? We also write the New Jersey Energy Consultant Bond and the Illinois Energy Agent Bond.
