Discover the Power To Choose
At Payless Power, we are committed to delivering exceptional value to our customers. We offer a range of flexible and personalized electricity plans designed to meet your unique needs, and the option to select a fixed-rate plan with contracts as short as six months to as long as 36 months.
Payless Power is one of the few electricity providers to offer both traditional (or postpaid) electricity plans – where you are billed for your usage at the end of the month – and prepaid plans, where you pay for your usage in advance. Let’s explore the key differences between prepaid and postpaid electricity so you can choose which plan is right for you. Here are the common features and sign up requirements of each type of plan:
| Feature | Traditional (Postpaid) | Prepaid |
| Requires a Social Security Number (SSN) | X | – |
| Requires a Credit Check | X | – |
| Requires a Deposit | Sometimes | – |
Requires Pre-Payment Up Front in
Order to Activate Service | – | X |
| Billing | Monthly Invoice | Pay As You Go |
| Late Fees | X | – |
| Low Variable and Fixed Rates | Fixed | Fixed |
| Automated Payments | Optional | Optional |
| Terms of Service | Varies – up to 36 month | 6 and 12 month |
| Smart Meter | Optional | Required |
Which Plan is Right For You?
Prepaid or Traditional Electricity Service
Now that you know the difference, your decision between prepaid and traditional electricity will depend on your circumstances, financial situation, and preferences. Both have pros and cons, so only you can decide which plan is right for you. Here are a few things in mind.
Pros Prepaid Electricity
- No credit check and no deposit make electricity accessible to people with poor credit, those who want to avoid a credit check, or can’t afford or don’t want to pay a deposit.
- Prepaid electricity allows you to have better control over your budget. It offers flexibility by allowing you to pay for electricity in smaller, manageable increments.
- There are no late fees since you paid in advance.
- Receive daily texts and/or emails so you can help monitor your balance and adjust your electricity usage on the go.
Cons of Prepaid Electricity
- You might pay higher per-kWh rates.
- It’s important to monitor and refill your account balance, which could be inconvenient. If you forget to refill your balance, you risk having your electricity disconnected. Additional reconnection fees might apply.
Pros of Traditional Electricity
- The potential for a lower per-kWh rate or to lock-in rates
- You don’t have to worry about running out of prepaid balance and having your electricity disconnected
- You are looking for another way to build your credit
Cons of Traditional Electricity
- A credit check is required which can be a barrier for those with poor credit and a deposit might be required.
- Late fees will incur if you miss your monthly payment
Hopefully you’ve gained some clarity and now you know which plan works for your unique lifestyle and budget. At Payless Power, we give our customers the power to choose. Whether you select a prepaid or a traditional plan, our electricity plans are straightforward, with no hidden charges or gimmicks that sound too good to be true.
