No deposit electricity plans are energy options that do not require an upfront deposit to begin service. Customers with lower credit scores are often required to pay a deposit when they sign up for an electricity plan in Texas. But for many residents and business owners, paying a deposit upfront is less than ideal.
Choose Texas Power works with Texas retail electricity providers (REPs), some of which offer no deposit options. No deposit plans can be helpful for consumers who want to avoid a credit check or who don’t have the funds to pay a deposit before service begins.
To explore available no deposit plans in your area, enter your ZIP code above. You will find a list of current energy plans near you and you can filter for no deposit options that interest you. To learn more about the types of plans – including details on no deposit plans – continue on this page or visit our Plan Guide.
| Payless Power - Premier 12 - Prepaid Plan | 12 months | $0.192 / kWh |
| Payless Power - Easy Choice - Prepaid Plan | 1 month | $0.197 / kWh |
Please note: All rates above are accurate as of 5/21/2022, 4:38:59 PM CDT for ZIP Code 75001. Rates may have changed since this date/time. For the most up to date rates in your area, please enter your zip code above.
Prepaid plans: The most common type of no deposit plan is a prepaid electricity plan. With prepaid plans, customers pay upfront for their electricity. This money goes directly towards the electricity that powers your home – which is what sets it apart from a deposit.
With a prepaid energy plan, customers will receive notifications about their energy usage. When the energy usage level nears the amount they have paid for, they will need to pay upfront for more electricity. These are also called pay-as-you-go electricity plans and ensure you only pay for the exact amount of energy you consume.
High credit scores: There is also the potential for customers with high credit scores to be exempt from deposits. This requires a credit check, and if the customer meets the provider’s credit threshold, they will be able to avoid paying a deposit. When you enter your ZIP code above, Choose Texas Power will walk you through this process and let you know if you qualify for deposit exemption.
The answer to this question depends on your financial situation and the type of no deposit plan that interests you. Before signing up for a no deposit plan, consider the following benefits and drawbacks.
Not all retail electricity providers (REPs) offer no deposit plans. In the Choose Texas Power marketplace, customers interested in no deposit options can explore offerings from First Choice Power and Payless Power. Or, if you have a high credit score, select the provider of your choice and we’ll let you know if they require a deposit.
If you are interested in a no deposit electricity plan, enter your ZIP code above to find plans in your area. You can filter for prepaid energy options. If you aren’t sure what type of plan is best for you, call one of our energy experts for more guidance.
Does a no deposit energy plan require a credit check?
If you sign up for a prepaid no deposit plan, Choose Texas Power does not need to run a credit check. However, if you want to find out whether you would be charged a deposit for other available electric plans, we will need to run a credit check to determine whether you qualify for a deposit exemption.
Do I have to sign a contract for a no deposit plan?
Most no deposit plans are month-to-month, meaning you do not need to sign a long-term contract and can switch to another energy plan easily. Prepaid plans do not require a contract and you can cancel at any time. Check the contract term section of a plan to find the most accurate information.
How quickly can I begin service under a no deposit plan?
Several energy providers that offer no deposit plans can provide same-day connection. Most Texas homes have smart meters, meaning you won’t need to schedule a technician visit for service to begin and your provider can connect to your home remotely.
Can I transfer my no deposit plan to a new address if I move?
If you are moving to a new home, contact your energy provider directly to discuss whether it operates in your new area. If it does, you can ask about transferring your no deposit plan. If it does not offer service in your new ZIP code, you can use the Choose Texas Power marketplace to find another energy plan.
My power went out. What should I do next?
Contact your utility company. Your utility is determined based on your location and is in charge of maintaining electrical infrastructure, including restoring power when there’s an outage. Visit our utilities page for a detailed list of Texas utility companies and how to contact them.
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