No-Deposit Electricity Plans

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Shop no-deposit electricity in Texas

In need of a no-deposit electricity plan? SaveOnEnergy is here to make cheap no-deposit electricity a reality for Texas residents.

At SaveOnEnergy, we know that not everyone can afford to pay hundreds of dollars for a deposit. Texas electricity customers with bad credit can still shop low-rate, no-deposit electric plans from the country’s top retail providers, such as Payless Power– all in the marketplace.

Simply enter your ZIP code above to start shopping!

No-deposit electricity rates

Plan Name Plan Length Rate
Payless Power - Premier 12 - Prepaid Plan 12 months $0.192 / kWh
Payless Power - Easy Choice - Prepaid Plan 1 month $0.197 / kWh

Please note: All rates above are accurate as of 5/27/2022, 7:25:36 AM CDT for ZIP Code 75001. Rates may have changed since this date/time. For the most up to date rates in your area, please enter your zip code above.

What is a no-deposit electricity plan?

There are a couple ways for Texas residents to avoid paying a deposit for electric service:

  1. You have good credit and are not required to pay a deposit by your chosen retail electric provider (REP). Many REPs require prospective customers to undergo a credit check to determine if you need to pay a deposit. If you have good credit, they may waive the deposit.
  2. You have bad credit and choose a prepaid no-deposit, no credit check electricity plan. For customers with bad credit, a prepaid or pay-as-you-go plan will allow you to get reliable electric service with no deposit and no credit check. Customers prepay for the electricity that they use and top up their accounts as needed. This is the most common type of no-deposit electricity plan in Texas.

On this page, we’ll focus on this second type of no-deposit electricity: the prepaid plan.

How do no-deposit electricity plans work?

With the SaveOnEnergy marketplace, it’s easy to pick an electric plan without a deposit from top electric companies. Here’s how it works:

  1. Enter your ZIP code above. Compare today’s cheap electricity rates in your area. Check the box under features to see only no-deposit, no credit check electricity plans.
  2. Choose your plan. If you need help choosing a plan, call the number above– our energy experts are available to help you through the sign-up process. Otherwise, select your choice and fill in your information.
  3. Enjoy your pay-as-you-go service. There is no credit check and we won’t ask for your social security number. Our prepaid electricity providers offer same-day connections so you can get back to living your life. Top up your account each month or set it and forget it with automatic account recharges.

Ready to get started? Enter your ZIP code above.

Who should get a no-deposit electricity plan?

Anyone who wants to stay in control of their monthly electric bill can opt for a prepaid electricity plan. However, you may be able to find a cheaper electricity rate in Texas with a fixed-rate plan. For this reason, we recommend no-deposit plans if you:

  • Don’t want to run a credit check 
  • Want to avoid paying a deposit
  • Have a very strict budget 
  • Don’t want to be in a contract
  • Are living somewhere short-term

Frequently asked questions about no-deposit electricity

Does a no-deposit electricity plan require a credit check?

When you sign up for a prepaid, no-deposit plan with SaveOnEnergy we will not run your credit.

Do I have to choose a monthly electricity plan?

We have a few prepaid no-deposit choices for Texas residents in the SaveOnEnergy marketplace, including month-to-month options and 12-month contract options. You can choose whichever plan makes the most sense for your lifestyle.

How soon will my power be turned on after signing up for a no-deposit electricity plan?

We partner with prepaid electricity providers who offer same-day connection services, so you can enjoy your electricity as soon as possible. To find out more about your specific provider and same-day connection, click here.

I’m moving to a new residence. Can I transfer my no-deposit plan?

To transfer your service to a new address, you’ll need to contact your supplier directly. You can find contact information for your specific provider here.

I’m unhappy with my no-deposit plan. Can I switch to another plan or provider?

Each plan and provider is different. If you have a month-to-month plan, you may be able to cancel at any time. Plans with longer contract terms may require you to pay an early termination fee. You can find information about canceling your specific plan in your Electricity Facts Label (EFL). If your prepaid plan is with Payless Power, you can cancel by calling 866-963-9353. To see other plans and providers that you can switch to, enter your ZIP code above.

I’m currently locked into a fixed or variable rate plan with another provider. Can I switch to a no-deposit plan?

Many retail electricity plans include early termination fees. Check your plan details or Electricity Facts Label (EFL) to find any fees associated with canceling early. If you have questions, you can find your provider’s contact information here.

My power went out. What do I do?

Business energy plans are typically not prepaid electricity plans. However, we can help you find business energy rates for your small business. 

Are there promotions for electricity plans? Where can I find the best energy deals?

Some electric companies may offer promotional deals that look good but end in a plan that isn’t the best fit for you. If you’re looking for cheap electricity or good deals, we suggest looking at no-deposit plans for an option that puts you in control of your bill.

Other questions? Call our energy professionals at the number above to learn more or to get help with the sign-up process.

Ready to find your perfect plan? Enter your ZIP code above.

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