What is a no-deposit energy plan?
No-deposit light plans allow customers to start a new electricity plan without putting down a security deposit. This differs from standard electricity plans, which typically require you to deposit money before starting service.
In Texas, you can avoid paying a deposit for your energy plan in several ways:
- You meet the credit requirements: Energy providers may waive the deposit if your credit score meets their credit threshold.
- You choose a prepaid light plan: A prepaid plan is the most common type of no-deposit light plan. Under this type of plan, you prepay for your electricity and add more funds to your account as needed.
- You meet specific qualification requirements: Some companies offer no-deposit lights plans to customers over 65 or victims of domestic violence.
Our experts’ top no-deposit, no-credit-check electricity picks
The experts at SaveOnEnergy picked our marketplace’s top two no-deposit electricity plans. Payless Power is a top no-deposit light company with two options: a six-month and a 12-month prepaid electricity plan.
Payless Power plan details:
- No credit check
- No deposit
- Requires a $20 minimum upfront payment to start service
Payless Power offers flexible options if you’re looking for month-to-month electricity with no deposit. Call the number on your screen for help choosing your next light plan. Our energy experts can answer all your energy-related questions and get you signed up in minutes.
No-deposit electricity rates
| Plan Name | Plan Length | Rate |
|---|
| Payless Power - 12 Month - prepaid | 12 months | $0.201 / kWh |
| Payless Power - 6 Month - prepaid | 6 months | $0.202 / kWh |
Please note: All rates above are accurate as of 4/16/2025, 11:46:02 PM 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.
Shop no-deposit electricity plans in Texas
If a no-deposit energy plan sounds like a good fit for you, SaveOnEnergy can help you compare your options. We partner with trusted no-deposit electric companies in Texas to help you exercise your power to choose. Follow these steps to explore no-deposit electric plans available in your area:
- Enter your ZIP code: We’ll show you the current electricity rates in your area. You can filter your results to browse plans from no-deposit light companies.
- Choose your plan: Call the number on your screen for help choosing the best plan. One of our energy experts can walk you through your options, answer questions, and help you enroll. You can also sign up online in minutes.
- Enjoy your energy plan: Once you sign up for a plan, your new no-deposit electric company will coordinate setup with your local utility. Many energy companies offer same-day connection if your home is equipped for remote setup. If you enrolled in a prepaid plan, be sure to add funds to your account or set up an automatic payment to avoid disconnection.
Light companies with no-deposit plans
SaveOnEnergy can help you discover light companies in Texas with no-deposit plans, same-day connections, and cheap energy rates. We partner with reputable energy providers in deregulated states to simplify the energy shopping process.
Budget-friendly electricity companies, such as Payless Power, provide options for prepaid and same-day electricity plans tailored to both residential and business energy consumers. Confirm that the provider you select offers a no-deposit lights plan with terms that align with your preferences.
How do prepaid electricity plans work?
Prepaid energy plans allow you to pay for your electricity usage in advance and refill your account as needed. You won’t have to put down a deposit, which means everything you pay goes directly toward your energy costs. Many prepaid electricity plans are also variable, keeping you from being locked into a contract or paying early termination fees (ETFs).
Signing up for month-to-month electricity with no deposit through SaveOnEnergy works just like signing up for any other plan. You can enroll online or call the number on your screen to speak with one of our energy experts, who can walk you through the process.
Once you fund your prepaid electricity account, you can begin service. Your electricity provider will alert you to refill your balance as needed so you can keep the lights on.
Who should get a no-deposit light plan?
A no-deposit option, such as a prepaid electricity plan, can be a good fit when you need to get the lights on quickly. However, you may find a cheaper Texas electricity rate if you shop for a fixed-rate plan when energy demand is low. For this reason, we recommend no-deposit light plans for customers who:
- Want to avoid tying up money in a deposit
- Have a tight budget
- Would rather not sign a contract
- Are living somewhere short term
- Don’t meet most providers’ credit thresholds
How much is the deposit for other electricity plans?
Deposits for Texas energy plans vary by provider, credit history, and monthly electricity use. Electric company deposits can be as much as double the amount of your monthly electricity bill.
You can quickly compare options for deposit and no-deposit plans with SaveOnEnergy. Our marketplace makes it easy to find an electricity plan that fits your budget and energy needs. Enter your ZIP code to learn about energy rates and plans in your area.