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Most attractive and impressive electricity plans require a new customer to either pay a deposit before they can get connected to electricity or perform a credit check. With the current difficult financial times, it can be a bit challenging to qualify for some of these plans. The hefty deposit fees imposed by some of these electric companies have made some consumers look for alternative options. One such option is the no deposit electricity plans including the pay as you go or prepaid electricity plan.
The no deposit electric plan, as the name suggests, is a kind of energy plan that doesn’t require any deposit, no long term contracts, or credit checks. All you need to do is to create an account and load it with some money. Your electricity bill will then be automatically deducted from the account as you continue to use the electricity. The best thing about this plan is the electricity is turned on immediately when you deposit the money in the account.
In Texas, more and more people prefer prepaid light companies particularly in the deregulated parts of Texas. The reason behind the increase in interest is because of the numerous benefits of the no deposit electricity plan.
Well, there are numerous benefits associated with this kind of electricity plan. One important benefit of no deposit prepaid electricity plan is the fact that it gives you the opportunity to get connected to electricity at a relatively lower price. You see, quite a number of Texas residents are connected to electricity via the traditional utility plan and therefore spend a substantial amount of money on paying an electricity deposit.
Ideally, consumers are supposed to be refunded their deposit after a certain period of time. For instance, when you pay a deposit fee for a residential electricity connection, you might be told that the deposit will be refunded at the end of the year or after a certain time period.
I must admit that the idea of getting back the deposit after a certain period of time is really appealing and a noble idea. However, the reality is that it will take a whole lot of time before it is refunded – if it is refunded at all. Something can happen in the cause of service contract that might lead to nun-refund of the deposit
Apart from conserving the deposit money, a no deposit or prepaid electricity company also offers other alternative ways through which you can save money. For instance, in addition to providing you with the opportunity to avoid paying deposit fees, this kind of electricity company may also provide you with some money-saving opportunities such as free nights or weekend electricity service.
Another key benefit linked to no deposit electricity plan is the numerous service choices available via the traditional electric services. Individual domestic electricity needs differ from one customer to another. But thanks to the various opportunities offered by the no deposit electric companies, you can now get a customized service based on your needs.
Most electric plans require you to pay a deposit though, the amount varies from one supplier to another. That said however, there are also electric plans that don’t require you to deposit electricity fees such as the no deposit and prepaid electric plans.
There are also some situations where you are required to pay electricity deposit fees. For example, energy consumers whose electricity have been switched off due to non-payment or delayed payment, are required to pay a deposit fee in addition to paying the previous amount, reconnection and dis-connection fees
Most electricity companies require a deposit fee in most of their electric plans. There are a number of reasons why they do this.
The main reason is security, especially among consumers with bad credit history and a poor credit score. Other reasons include; consumers who have previously had their electricity disconnected, have a history of delayed payments, and those who have pending past bills.
There are some instances where electricity supplying companies have waived deposits for consumers aged 65 years old and above and who had proof of timely past payment and a letter of credit from their latest electricity supplier.
There are countable established companies in Texas that offer no deposit electricity plan. So, I did a little research, seeking to find trustworthy companies that have electricity plans that don’t require a deposit. From the research, I was able to come up with three Texas electricity companies that are well established and offer prepaid and no-deposit plans. With this type of company, you don’t need to worry about bad credit or credit checks. These three companies i.e. Hello Energy, Reliant Energy, and Payless Power, all operate in Texas. Here is detailed information about them.
Hello Energy; pay as you go plans
Hello Energy is a reputable and reliable light company that deals with prepaid energy and deposit plans. They strive to provide consumers with electricity at a competitive rate. On their no deposit electricity plans, they don’t carry out a credit check and therefore bad credit doesn’t count here. They have a very simple method of enrollment that involves communication with their customer care team.
The company is associated with Champion energy which is a respected and well-known company in Texas that offers electricity at fixed rates. As a reliable lights company operating in Texas and offering no deposit electric plan, many customers who have issues with their credit can pay as you go under this plan.
How Hello Prepaid Plan Works
This plan doesn’t involve long term contracts, no deposits, and no credit check. All you have to do is to register an account and put some money on it. This money is automatically deducted as you continue enjoying the electricity service. They also sent daily reminders via email and texts on your energy usage and the situation of your account.
Reliant Energy; No credit check, no deposit, prepaid electric plan
Reliant Energy is another well respected and dependable light company in Texas. It occasionally provides no deposit, no credit check, prepaid electricity plan during certain periods of the year. Even though they are not always offering the prepaid electricity plan, whenever they do, it usually doesn’t require an ID and it instantly approved. Additionally, it normally doesn’t involve a contract.
Payless Power: No deposit no credit check prepaid plan
Payless Power is one of the best light companies, particularly, when it comes to prepaid electricity plans. Payless Energy Prepaid plan also referred to as “SmarTricity Easy Choice” features; competitive rates, no early termination fees, no long contract, no credit check, a free end of year statement, and most importantly, you are not required to pay a deposit.
Moreover, they usually send daily alerts messages or emails that contain details such as your energy account balance, your energy usage in Kilowatt-hours and the number of days remaining before you make the next payment.
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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…
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