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No Deposit Electricity Houston

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No Deposit Electricity Houston

One thing that we often forget when moving houses is the electricity deposit. This is usually the last thing to cross our minds. According to rent.com, an electricity deposit can cause a dent of $100 to $200 in your pocket. This is money that you can use to sort out other amenities. The good thing is that there is a solution to this problem and that is; the no deposit electricity plan.

What is it

Most electricity companies usually require that you pay for your electricity services post-use, provided that you pay the required deposit. With no deposit electricity plans, which is also referred to as a “pre-paid electricity plans or pay as you go”, allows you to pay first before using the electricity. It enables you to pay only your usage fees – no deposit.

How it works

The no deposit electricity plans can differ from supplier to supplier, but generally, the plan involves the following;

 

Before you enroll in this plan, there are a few things that you need to be aware of.

 

Another way to avoid paying a deposit fee is through the ‘good credit score way’. If you have a good credit score, some Retailers Electric Providers (REP) will allow you to pay the normal electricity charges without demanding an electricity deposit fee. So, all you need to do is to look for the electricity providers with this kind of offer and subscribe to their services.

Do you have to pay a deposit for electricity?

As stated earlier, you don’t have to pay the electricity deposit. Many electricity providers offer plans that don’t require a deposit. This is good news for those people whose credit scores are not that good. There are two ways to avoid paying deposit i.e. by using one of the pre-paid electricity plans or the traditional plan that don’t require a deposit fee

Why is there a deposit for electricity?

The main reason why you are charged an electricity deposit fee is that; electricity is a post-pay service where you use electricity first then pay later – at the end of the month.

Therefore, the electricity deposit serves as a gesture of good faith. It is more of a pledge that you’ll pay the electricity you have used at the end of the month. In case you are not able to pay for the electricity you have used, the electric company can retain the deposit.

How are they calculated?

The electricity deposit works the same way as a credit score. A good credit score gives the impression that you have a stable financial base and that you can be able to take care of your bills. A bad or poor credit score, on the other hand, gives the opposite impression. This, however, doesn’t mean that companies won’t give you service, but you will have to part with higher electricity deposits in the range of $100 to $250. In a nutshell, if your credit score is bad, expect to pay a higher Electricity deposit

Electric companies that do not require a deposit

There are several companies in Houston that don’t require a credit check or any deposits. Here are two light companies offering no deposit electricity plan.

Payless Power

Payless Power is an electric company that offers pre-paid electricity to customers in Houston. It is one of those companies with fairly priced electricity plans. It offers dependable electricity services at an affordable rate. Additionally, they have a self-service portal and offer daily usage and balance notification via email, text, or both.  In addition to no deposit required, it also gives instant approval irrespective of your credit history. It works with utilities within Texas and its environs including; Corpus Christi in AEP central, Oncur in Fort Worth/Dallas metroplex, central point Houston and its environs,  several parts of western Texas, AEP north in Abilene and the surrounding communities.

Choose Energy

Choose Energy is a company that helps customers to choose the ideal plan at an affordable price. Whether you are looking for no deposit option, cheap electricity rates, or renewable energy, Choose will help you with that. This light company is well known for its service of comparing the cost of multiple providers and determining which is the best-priced electricity plan in Houston. To identify the ideal plan with Choose Energy, all you have to do is key-in your zip code and they’ll provide you with a list of utility providers within your locality. With Choose Energy, you can be able to identify a ‘no-deposit plan’ with much ease.

They work with other reliable light companies to connect you with a dependable energy plan at competitive prices. The rates displayed on their marketplace are usually all-inclusive and do not conceal any charges. The best thing about all of it is that you can use their marketplace for free.

Other companies that offer no electricity deposit fee type of plans include; acacia energy, hello energy, TXU energy among others. TXU Energy in particular, just like Payless Power, has a pay to go plan (TXU flex power) that has no contract and requires no deposits. With this plan you don’t have to worry about due dates or monthly fees, and you can pay as much or as little as you need, whenever you need it. They also send you a notification on your energy usage and information on your account balance.

Conclusion

If you are looking for a Texas Electricity company that requires no deposit, no credit check, and doesn’t bother with you bad credit then Payless Energy is the right choice for you simply because of their excellent customer care service.

Note however that no deposit electric plans, just like any other plan, have its strengths and weaknesses. Therefore you need to weigh and see which one best suits your needs.

The benefits of no deposit plans are; no deposit, no credit check needed and that; – even with your bad credit score, you can still get access to electricity.

Its disadvantages are that their prices fluctuate and some are a bit expensive compared to the usual electricity plans, and if you have a chronic or critical medical condition, you cannot apply for it. Also, your electricity will be disconnected the moment your account reads $0.

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…

Christine M. in Killeen

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…

Julia L. in Webster

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.

Kalandra H. in McKinney