Payless Power understands the importance of keeping things simple. Our no-deposit electricity plans mean you can get started without a hefty upfront deposit — and with no credit check required, your financial history won’t hold you back from receiving the energy you need.
What is the Cost of an Electricity Deposit in Texas?
Electricity deposit charge in Texas varies extensively among electricity providers. The cost is determined based on your payment history and credit score particularly if you have a past record of unpaid utility bills. Some Texas electric providers may opt to charge you a flat rate regardless of your credit history.
Generally, deposit fees vary from the cost of one month’s electricity service fee to twice the average monthly residential electricity bill:
- Small Apartment (~700 sq. ft): The deposit fee for a small apartment with an energy usage of about 750-kilowatt-hour per month is approximately $175.
- Large Apartment (~1,000 sq. ft): The deposit fee for a large apartment with an electricity consumption of about 1000 kWh per month is roughly $233.
- Small House (~1,200 sq. ft): For a small house with a consumption rate of around 1250 kWh per month, the deposit fee is around $292.
- Large House (~3,800 sq. ft): A large house that consumes 2200 kWh per month will require a deposit fee of around $514.
You might be required to pay the deposit in lump sum or in monthly installments. For monthly installments, the fee will be added to your monthly bill until it’s fully paid. However, if you are late or default on the payment, you will be required to pay the deposit in full.
Why Choose A No Deposit Electricity Plan?
Many power companies require pricey deposits and a lengthy credit check process. Then you pay hundreds of dollars for an administration fee and wait for the utility company to approve and connect your electricity.
In Texas, Payless Power offers a better way — no-deposit electricity plans with no credit checks. Payless Power’s prepaid electricity plans offer instant approval regardless of your credit history and without lengthy paperwork. Whether you’re moving or simply want to switch energy providers without paying another hefty fee, no-deposit, prepaid light plans provide an easy, fast, and affordable option.
How Do No Deposit Electricity Plans Work?
The average Texas electricity deposit typically costs 20% of your annual bill or the equivalent of your first two months of expenses. This equates to about $350 based on the average annual cost of electricity in Texas, but it could be much more depending on home size.
Some energy companies charge a flat deposit fee or set one based on your utility payment history and/or overall credit score. That means they could charge a higher deposit if you’ve lapsed on previous utility bills or have a low credit score.
In contrast, Payless Power’s no deposit plans require no money down, except for a $40 connection balance that goes into your account and is used exclusively for your electricity costs.
Payless Power’s no deposit options let you choose a prepaid energy plan (also called a pay-as-you-go plan). Just like charging your battery to use a mobile device, customers “charge up” their Payless Power account by adding funds whenever they are able and using the electricity the funds covered.
Recognizing electricity as a basic need, Payless Power offers electricity plans regardless of poor credit history or for those without recognized credit. Without the hurdle of credit history and coming up with hundreds of dollars upfront for a deposit, Texans can sign up for a prepaid electricity plan with a same-day connection that only takes a few hours.
Get Started With a No Deposit, No Credit Check Electricity Plan
Signing up is easy!
Start saving with a prepaid electricity plan with Payless Power — simply enter your ZIP code to discover a plan that’s just right for you!
Texas’s deregulated energy market means dozens of retail electric providers are vying for your business. Payless Power is a Texas company that cares about Texans. Based in Fort Worth, Texas, Payless Power is an electric service company supplying electricity to most parts of Texas’s deregulated areas, including Corpus Christi, Houston, Dallas, Abilene, Killeen, Tyler, Laredo, and other areas.
Customers appreciate the flexibility of our no deposit electricity plans, which also don’t require credit checks. We’re consistently recognized as a top-five Gold Tier electricity company, providing top-notch products and customer service.
