No Deposit Electricity
For those of you who move frequently or are renting, who are in college, or who want to test out an electricity provider before signing a contract, deposit-free electricity is the option you want! Choosing an electricity plan with no down payment can help ease monetary concerns and simplify your monthly bills.
One of the largest perks to a deregulated energy market is that you, as the customer, gain an advantage with countless energy provider options and no deposit electricity plans to choose from. This provides you cheaper rates, better service, and usually quicker connection options for your electricity.
Fixed Energy Plans
If you know the length of your current lease or are a homeowner, opting for a contract or fixed rate energy plan can be advantageous. There’s no down payment needed for long term energy plans if you have good credit.
No Credit Check Required
Anyone can get power in Texas, regardless of credit or employment status. All you need to get the lights on today is an address and $40 to activate a new customer account.
No Deposit Energy Plans in Texas
No deposit electricity offers versatility and can be extremely beneficial for frequent movers, roommate situations, and people with credit issues. It can save you money by allowing you to more closely monitor your energy usage and costs, don’t require a contract or connection fee to begin, provide you the best energy rates available without any hidden fees, and usually offer same day connection!
No deposit electric plans, also called prepaid electricity or pay-as-you-go energy plans, allow you to pay a specific amount toward your power, and as long as your account has a positive balance, you continue to receive power.
Below, we break down the different aspects of purchasing prepaid lights with no deposit.
Easy Payments and Daily Reminders
When you opt for no deposit energy, you will choose a provider from a list of energy companies offering plans without a time consuming credit verification. There is a minimum charge of $40.00 to open your account, but this money will go directly to funding your power.
With a prepaid electricity plan, you will have an account that you keep loaded with a balance and, like any other prepaid service, as long as you have a positive balance in the account you will continue to receive uninterrupted service and electric. You can view this account status anytime by logging into your profile online. There are also text and email alerts available.
Automatic Bill Pay Option
Unlike standard energy contracts or long-term electricity plans, there is no set payment date for pre-paid energy plans. You can constantly monitor your account and balance through an online portal to regulate your usage and add money as needed.
As long as you have a positive cash balance in your account, you will continue to receive power. How you select to pay is up to you and payment can be as small and frequent as you would like, or you can elect to do fewer, larger transfers to keep your account active.
Set up automatic bill pay to ensure your power is never interrupted. Keep your account above $35 at all times and you can qualify to save 20% off your electric bill.
Transparent Energy Rates and Fees
Since the no deposit electricity in Texas doesn’t require a contract or down payment, there is no guaranteed or locked in rate. The price per kilowatt-hour can vary over time based on the temperatures outside.
However, light companies that don’t require a deposit have stiff competition so they aim to keep their prices as low as possible and will not have any hidden fees or surprises. You will receive a daily statement with the average price per kilowatt-hour so you can monitor where your money is going and your energy usage. This will help you to save money on your utilities.
What You Should Know About Texas Electricity Deposits
Why do so many companies run credit checks or require a deposit for services?
Light companies want to limit their liability when taking on new customers, and they do this by running credit checks to analyze the risk involved.
If you have a bad credit score, they will sometimes waive the deposit required. However, if you have a low credit score or a history of unpaid bills, they will probably charge a larger up-front deposit. This way, if you default on payments or are late, they are sure they have a portion of the money.
Keep in mind most deposits are refundable and will be returned once your contract expires as long as you do not owe the provider any money or late payments.
Do I qualify for no deposit energy?
If you live in an energy deregulated area such as Houston Metro or DFW, you qualify for prepaid lights. As long as you don’t have a critical care or chronic condition member in your household, you are able to sign up for prepaid, no deposit electricity. This is for their safety should the balance ever get low and electricity be interrupted. The only other thing you need to get started with no deposit electricity is a smart meter, which most homes and apartments already have.
How do I get a no deposit light plan?
Prepaid energy plans are the most common no deposit plans but are by no means the only plans available for no money down. Prepaid plans require you to put down money that will directly fund your lighting and electricity, but do not require any large deposit or money down to begin. Prices can be a touch higher than a contract plan, because the company has to factor in industry rates and liability, but the plans can save you a great deal of money and can help you monitor your energy usage much more closely in the long run.
By searching our convenient list of providers in the area and checking into the no deposit plans you can find the perfect option for you. Since there is no deposit or money down, the registration can usually be processed more quickly, giving you power on the same day you register.
Our Promise: Cheap Electricity, Without a Deposit
Electricity companies that don’t require a deposit are available across Texas, and to best serve you, we service the Dallas-Fort Worth metro area, Houston, and over 400 locations in the state.
With Quick Electricity you can be confident you are getting the lowest rates from the best light companies, and you are guaranteed to find a provider that fits you perfectly.