Discover Cheaper kWh Rates & No Credit Check Options
With Texas’s deregulated energy market, choosing the best company and the best energy plans might be confusing, as there are so many options available due to a ‘market frenzy.’ However, finding the most affordable plan that suits your needs, lifestyle, and budget is not as complicated as you might have thought.
Most light companies demand a deposit before signing up for the energy plan you require. Customers are charged hundreds of dollars upfront to receive electric service (mainly for security purposes). However, it’s often gimmicky, and not everyone may have the required amount.
We have put together an assortment of companies that offer no-deposit energy plans in Texas to solve this problem. No-deposit plans are suitable for customers who do not have the required funds to pay a deposit.
However, electricity companies that offer prepaid plans tend to increase rates after a set period. Therefore, it is important to sign with reputable energy providers such as Payless Power to save yourself from unpleasant surprises.
Why No-Deposit Plan?
With a no-deposit plan, the amount you pay is not paid as an upfront deposit, but it directly goes towards your electricity service. Prepaid plans also do not require credit investigation—an ideal solution for low-income customers.
Since you pay before you use electricity under a prepaid no-deposit plan, you have control over usage. In addition, most companies, such as Payless Power, send daily notifications via text or email detailing usage and credit history. As a result, you know your rate and energy consumption, and there are no hidden charges.
No Deposit Prepaid Plans
Prepaid plans are pay as you go, which does not include a deposit. Customers receive notifications for their energy usage and pay only for the amount of energy they consume, eliminating various sorts of charges. Prepaid plans are the most common type of no-deposit energy plans.
Available to a Variety of Credit Scores
Customers with high credit scores can also escape from upfront deposits. However, they would require a credit check, and if the concerned REP’s find that the customer meets requirements, they would be able to sign up for a no-deposit plan.
Companies that offer No-deposit Plans in Texas
Here are some of the companies that provide no-deposit plans in Texas. All of these companies offer excellent customer care and employ the latest technology to do so. It’s simple; by entering your zip code on the website, you can compare rates and choose the cheapest option that suits your lifestyle. The data that has been listed here is taken from Electricity Facts Labels (EFLs).
First Choice Power
Founded more than 70 years ago, First Choice Power is one of Texas’s most well-established energy providers. This company offers various kinds of plans, including fixed rates, variable and no-deposit plans. However, there is a $135 early termination fee if you cancel your plan early.
One of the best-operated electric companies in Texas, Hello Energy offers prepaid, no-deposit, no-credit-check, no-contract plans. With their pay-as-you-go plans, you have instant approval to get service the same day without an ID check. In addition, the company offers month-to-month plans and doesn’t charge an early termination fee. They do charge 19.0 cents per kWh, which is comparatively high to other companies.
A popular prepaid light company, Reliant offers some of the best no-deposit plans, but only periodically. One of the most significant advantages of Reliant is its locked-in rates, which mean no sudden hike in prices for a fixed amount of time. However, their pay-as-you-go rates are not available all year round.
With a 100% renewable energy plan, Rhythm Energy is an energy company that offers no-deposit plans. However, being green, this company’s rates are very high compared to other affordable companies such as Payless Power.
This is the best no-deposit (prepaid) light company. This company specializes in contract-less, no-deposit plans and is arguably the most affordable company in Texas. They also do not run any credit checks and have no longtime commitments. You can cancel anytime without being charged a termination fee.
Why Payless Power No Deposit is the Best
Payless Power gives you the cheapest rate in Texas with the best customer service. They charge approximately 12.30 cents per kWh. Their services and customer care are top-notch, along with being a no-contract electric company. A daily reminder details the amount of kWh you have consumed, your account balance, and the number of days left to refund your account.
With Payless Power, you have a customer portal to review your expenses and account details online. You also get a free month-end statement that elaborates your costs in the previous month and your average rate/kWh consumed/paid. Payless Power is the only prepaid company in Texas that offers fixed energy.
Escape the Energy Contracts in Texas
If you want to escape long-term contracts, save money and pay strictly for what you use without gimmicks, prepaid no-deposit plans are just for you. REP’s that provide these plans do not require a deposit or a credit check. In addition, since your energy is prepaid in no-deposit plans, you tend to manage your consumption and therefore cut down on expenses. Thus, you are saving yourself from an upfront deposit, but you are also working your budget via a daily check-through notification on your consumption.