Electricity deposits in Texas are typically one-fifth of your estimated annual electric bill or the total of your estimated bills for the next two months. This equates to hundreds of dollars upfront. Not all electricity companies require a deposit, however. Payless Power’s no deposit plans allow you to start saving immediately.
No Deposit Electricity Plans in Texas
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Electricity With No Deposit in Texas
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.
Additionally, Payless Power’s no deposit electricity plans offer short-term, fixed-rate contracts up to 12 months and daily usage monitoring, providing customers with greater flexibility over their electricity bills. Ready to learn more about no deposit electricity plans?
Why Choose A No Deposit Electricity Plan?
Recognizing electricity as a basic need, Payless Power offers prepaid 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 an electricity plan with instant approval that only takes a few hours. Whether you’re moving or simply want to switch energy providers without paying another hefty fee, no-deposit light plans provide an easy, fast, and affordable option.
What is the Cost of an Electricity Deposit in Texas?
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.
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.
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.
Why Payless Power’s No Deposit Electricity Plans?
Recognizing electricity as a basic need, Payless Power offers prepaid 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 an electricity plan with instant approval and same-day connection that only takes a few hours.Whether you’re moving or simply want to switch energy providers without paying another hefty fee, no deposit light plans provide an easy, fast, and affordable option.
Why You Should Sign Up for a No Deposit Electricity Plan
Our no deposit electricity plans can put you on the path to huge savings today! Here's what you'll get when you sign up:
No Credit Check.
Enroll today and get approved instantly, regardless of income or credit history.
No Deposit Required.
Get a same-day power connection for your home with no deposit required!
Daily usage alerts.
Receive daily balance and usage notifications via text, email, or both.
Self-service portal.
We provide an easy-to-use online portal that lets you take control of your payments and usage.
Benefits of a No Deposit Electric Plan
Here are a few of the many reasons a no deposit electricity plan might be right for you:
No Upfront Charges
You start saving right away. Other power companies may charge a steep sign-up/administration fee as "insurance" for you to pay on time. But these deposits are burdensome if you're moving or have a tight budget with limited or no loan options. Your Payless Power electricity fee goes directly to your balance to pay for electricity. To see the minimal connection balance we require, simply enter your ZIP code!
No Credit Checks
Signing up for an electricity plan from Payless Power is like securing pre-approval without the stressful pre-approval process. With Payless Power’s no deposit electricity plans, people with little to no credit history or those with lapsed utility payments don't need to worry. The time and stress saved means you can focus on more important things.
Prompt Approval
Our plans don't require time-consuming credit checks, speeding up the process from sign-up to lights on. Simply find a plan based on your ZIP code and call or enroll online (available outside business hours). You only need a working email address, phone number, and correct home address. In most cases, you will receive instant approval.
Pay-As-You-Go Convenience
The power is back in your hands! Instead of expensive month-end bills, you can control your payment date and method. Easily make your payments when your balance is low or schedule automatic payments on certain dates when it’s most convenient for you. You'll receive notifications when your balance is low, and phone, online, or in-person payment options are hassle-free.
No Long Electricity Contracts
Our electricity plans are simple, with short contract terms of 12 months or less to put the power back in your hands and give you greater flexibility over your options. A fixed rate per kilowatt-hour (kWh) for the length of your contract allows for predictable pricing. Your bill only fluctuates based on your energy consumption, and if you find out you're moving or need another plan, our cancellation fees are minimal compared to most power companies.
Get Started With a No Deposit Electricity Plan from Payless Power
Signing up is easy!
Start saving with a no deposit 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, and we’re consistently recognized as a top-five Gold Tier electricity company, providing top-notch products and customer service.
No Deposit Electricity Plans in Texas
Q: How much are estimated electricity deposits in Texas?
Q: Can I get electricity in Texas with no deposit?
Yes! No deposit electricity is available in Texas thanks to the state’s deregulated energy market.
No deposit plans don’t require a pricey fee to connect your electricity, and any money paid in advance goes toward the cost of electricity.
Q: What is “no deposit” electricity?
No deposit electricity plans let customers connect electricity without a hefty administration fee, which most traditional plans require. No deposit plans are sometimes called prepaid electricity (or pay-as-you-go) plans, as you pay in advance for the electricity you use.
With no deposit electricity, your initial balance goes directly toward the cost of powering your home.
Q: What are the benefits of no deposit electricity?
The benefits of no deposit electricity are clear:
- No expensive upfront connection fees, and your initial balance goes toward the cost of electricity.
- You get instant approval with no credit checks required, meaning a fast connection.
- No deposit prepaid plans offer convenient, flexible payment options.
- You pay in advance for power, so you’re not surprised by huge bills at the end of the month.
- Save money initially with no deposit down and monthly by adjusting your usage, with daily power consumption and account balance updates.
Q: What should I consider before picking a no deposit electricity plan?
No deposit electricity might be right for you if you have a poor credit history and need power quickly, without a large upfront payment or lengthy approval process.
Consider whether you need flexible payment options with your paycheck schedule and other household bills, and decide if you want an autopay option or if you can manage your payments with notifications when your balance gets low.
Q: Do I have to sign a contract for a no deposit plan?
It depends. Some companies offer no deposit plans with contract terms from three months to several years. These plans lock in your rate per kilowatt-hour (kWh) for the length of the term.
Other companies offer no-deposit plans with variable month-to-month rates, where the price per kWh fluctuates. Contracted plans often require a termination fee, but locking in at a lower rate means savings and predictability.
Q: How quickly can I begin service under a no deposit plan?
Many no deposit plans mean quick service, including same-day connection. No deposit power plans require little time or money upfront without a long approval process or credit check.
If you sign up early in the day and have a smart meter (installed in most Texas apartments and homes), the connection could be as quick as four to six hours. If you sign up after business hours, service might be delayed until the following operational day.
Q: Can I transfer my no deposit plan to a new address if I move?
It depends on the company’s criteria and whether they operate in the area of your new address. Many companies don’t allow you to transfer a no deposit plan due to local electricity rates, but they can create a new account at your new address. Early termination fees are minimal for companies like Payless Power, and no deposit plans are available throughout most of Texas.
Q: Does a no deposit energy plan require a credit check?
Some Texas companies require a credit check for no deposit plans, while other electric providers don’t. Payless Power’s no deposit, prepaid electricity plan options mean you can get automatic approval without undergoing a credit check.
What our customers are saying
See why our power customers say we're the best electricity provider in Texas!
Affordable and easy to make payments
I was worried about getting electricity for my home through a prepaid company. I was calling around to see different rates then going through all the hassle of credit checks while dropping points each…
Happy Customer
I have been with this company for several years and have been very happy since. Even when I moved, they made my usually stressful situation very easy and carefree. I recommend them to everyone that I…
Long term customer
I have enjoyed the service for 2 years now. In the beginning this service was planned to be temporary but with the service being so effective for me i decided to keep it for the long haul. I’m a happy customer.
About Payless Power
Payless Power wants to be your Texas electric company.
Whether you live in a large city or small town, Payless Power can save you money on your Texas electricity. We serve customers in over 400 deregulated communities in Texas with both traditional, postpaid plans on monthly billing cycles, and prepaid electricity that is pay-as-you-go with no deposit or credit check required.
We work with principal utilities throughout the state to provide electricity. The utilities are: Oncor in the Dallas and Fort Worth Metroplex and various parts of West Texas; CenterPoint Energy in Houston and the surrounding areas; AEP Central in Corpus Christi and surrounding areas; and AEP North in Abilene and other North Texas communities.
