Discover No-Deposit Electricity Plans on Choose Energy

A no-deposit energy plan allows you to skip the upfront energy deposit that Texas light companies often require to start service. If you want to avoid this cost, you can search for no-deposit plans and get your lights on without additional fees. Choose Energy partners with Texas’ top no-deposit providers to help customers find affordable and flexible electricity options.

Here are the most common ways to qualify for no-deposit electricity in Texas:

• You have a high credit score: Many light companies run a credit check before enrollment. If your credit score meets the required threshold, you may begin service without paying a deposit.
• You have a history of on-time payments: If you are a former or current customer in good standing who consistently pays bills on time, your provider may waive the deposit.
• You meet specific provider requirements: Some light companies waive deposits for customers who are over 65, military veterans, or victims of domestic violence. Requirements vary by company.
• You enroll in a prepaid energy plan: Prepaid electricity options do not require a credit check and let you pay for energy in advance rather than posting a deposit.

A prepaid energy plan is a type of no-deposit plan that lets you pay for a portion of your electricity in advance to start service. Once your account is activated, you reload funds as needed. Your energy provider will update you on usage and send alerts if your balance runs low.

The following features and terms are included with Payless Power’s six- and 12-month prepaid plans:

• No credit check
• No upfront deposit required
• $40 minimum funds required to start service
• 30-day satisfaction guarantee
• $49 early termination fee (ETF)
• $15 monthly credit for usage at or below 500 kilowatt-hours (kWh)
• 26% renewable energy content

These and other important facts are available in each plan’s Electricity Facts Label (EFL), which appears with every plan listing on our marketplace.

Choose Energy is a free marketplace that helps you find no-deposit electricity plans from top light companies in Texas. Here’s how the shopping process works:

1. Enter your ZIP code. We’ll show a list of energy plans available in your area.
2. Filter for “all credit-approved” plans. Use this filter to narrow results to no-deposit and prepaid electricity plans available in your area.
3. Choose your plan and sign up. Enroll online or call our team to sign up in minutes.

No-deposit plans can be convenient, but their terms may not suit everyone. A common downside is that no-deposit plans often carry higher electricity rates than traditional fixed-rate plans. A no-deposit plan might be a good fit if:

• You have low credit.
• You’ve missed payments in the past.
• You want to pay for your electricity as you go.
• You want greater control over how much you spend on energy.

Before signing up, compare rates and terms with several fixed-rate plans. Although fixed-rate plans may require a deposit, they typically offer lower rates and greater stability. Call the number on your screen to discuss your options with an energy agent.

What are the cons of no-deposit plans?

The primary downside is that no-deposit prepaid plans usually charge a higher electricity rate than fixed-rate options. If securing the lowest long-term price is your priority, paying a deposit for a postpaid fixed-rate plan may be worthwhile.

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

A prepaid electricity plan is one type of no-deposit plan, but not all no-deposit plans are prepaid. Some plans waive the deposit based on your credit, while prepaid plans let you pay for electricity upfront and skip the credit check.

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

Yes. Many no-deposit plans require a contract, including popular Payless Power plans. Contracts typically lock in a rate for six or 12 months. Month-to-month prepaid options may be available, but always review the plan’s EFL for contract and cancellation terms.