What Is a No-Deposit Electricity Plan?

Choose Energy is a free marketplace that can help you find no-deposit, no-credit-check light plans. In Texas, the top no-deposit plans on our marketplace are prepaid plans offered by Payless Power. Review the details of these plans.

*Note: These rates are current for Houston, Texas, at the time of writing on 12/05/24. Rates change frequently by location and date. Enter your ZIP code to view today’s prices for your location.

If you are unsure about signing up for a prepaid plan, call the number on your screen to speak with our energy experts. They can help you determine which plan best suits your energy needs.

Signing up for a prepaid energy plan is one way to avoid any deposit fees that come with other plan types. You could also avoid paying a deposit for an energy plan if:

• You are a former customer with a solid two-year payment history with the provider
• You pay your energy bills on time
• You are not delinquent on your electric account
• You can provide proof of reliability from another energy provider, utility company, or landlord
• You have a high credit score

The Choose Energy marketplace is a one-stop shop to explore your options and sign up for no-deposit electricity plans. We’ll run a soft credit check, which won’t affect your credit score, to help you find cheap energy companies offering prepaid plans.

Prepaid energy plans allow you to prepay for your monthly electricity. Under this type of plan, you preload your account with funds to begin service. Once your light plan starts, you can reload your account as needed. Your energy provider will update you regularly about your account usage to help you manage your energy costs.

Top no-deposit, no-credit-check providers in Texas include Payless Power, Acacia, BKV, and more. Our energy experts recommend exploring plans from Payless Power due to its flexible, low-cost options.

Payless Power

Payless Power is popular across Texas and offers multiple solutions for residents and businesses seeking cheap light plans. Here are some perks for this provider:

• No credit requirements
• No deposits
• 25.5% renewable-sourced energy
• Six- and 12-month options

Are there any cons to no-deposit plans?

The main downside to no-deposit plans is that they typically charge a higher rate for electricity than fixed-rate options. Explore cheap electricity options by entering your ZIP code on our marketplace or calling our energy experts today.

Are there no-deposit energy plans for low-income households?

Some light companies offer no-deposit plans to households within a certain income threshold. You may need to provide documentation proving you meet this requirement before enrolling. Other common deposit exemptions include customers over the age of 65, members of the military, and customers with medical indigency.

What is the difference between a no-deposit plan and a prepaid electricity plan?

No-deposit electricity is a category of energy plans similar to fixed-rate and variable-rate plans. There are a few ways an energy plan can be considered “no-deposit,” including if your credit score exempts you from paying a deposit. Prepaid electricity plans are a common type of no-deposit option where you pay for your energy upfront instead of paying a deposit.

Will I need to sign a contract for a no-deposit plan?

You must sign a contract to lock in your electricity rate for Payless Power’s plans on Choose Energy. Our marketplace offers two options: a six- or 12-month plan. You should always review a plan’s Electricity Facts Label (EFL) to understand the details before signing up.