How Does No-Deposit Electricity 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 rate plans require no money down, except for the minimal connection balance that goes into your account exclusively for 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” a Payless Power account by adding funds and using the electricity the funds covered.
As one customer noted, it’s as simple as, “Pay money, get power.” Just pay your energy bill by phone, online, or in person with a credit card, check, or cash.
In addition to no deposits, electricity plans without credit checks help countless Texans experiencing economic strain. Rising gas and grocery costs, job losses, and struggling businesses set families up for difficult choices about what they can afford each month. Lapsed bills can negatively impact credit scores.
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.
That’s one task checked off your to-do list.