Prepaid electricity (also known as pay as you go electricity) is a smart option for some Texas electricity customers.
Customers with no established credit or a poor credit history can get affordable electric service the same day. Prepaid gives you month to month or fixed rate electricity.
What is Prepaid Electricity?
Prepaid electricity means you pay in advance for your power. As you use power, you get alerts letting you know your balance and number of days remaining. Add money as needed. Or set up automatic payments so your balance never gets too low.
Prepaid electricity makes it easy to get your lights turned on with no deposit and no credit check.
Find the Best Cheap Prepaid Power
At ElectricityPlans.com you can shop and compare the best prepaid electricity plans from the most reputable electricity providers to find the cheapest prepaid rates in Texas.
Our top recommendation for prepaid no deposit electricity is Payless Power’s fixed rate electricity plan. Pricing is below, and you can read our Payless Power plans review for more details.
Below this section, we explain more about how prepaid power works.
Sign Up for Payless Power by Phone!
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Compare Prepaid Electricity Plans Near You
How Does Prepaid Electricity Work?
With a pay-as-you go power plan, you fund your account with money to pay for electricity before you use it. This is different from a traditional postpaid electricity plans. With postpaid, you receive a bill each month and pay for the electricity after you use it.
Signing up for a prepaid electricity plan is simple. And, same day service available if you enroll by 4pm weekdays.
Here’s how prepaid works, step by step:
- Shop for a prepaid electricity plan. Use an electricity plan shopping tool like ElectricityPlans.com to compare plans to find the best one for you.
- Select a plan and sign up with the electricity provider offering the plan. You can sign up online or call, and create your account without leaving home.
- Fund your account. You’ll need to establish a balance before the electricity provider establishes service. This payment is a connection balance not a deposit. Electricity providers may require between $40 and $75 to establish service.
- Get texts alerts on energy usage. Your electricity provider will provide you with current information regarding the amount of power you use and your remaining balance.
- Monitor your account. Watch for email or text message alerts when your account is running low.
- Add funds to your account to keep the power on. Your electricity company gives you several ways to add money to your account. You can pay online, call customer service or go to an authorized payment center.
Pros and Cons of Prepaid Lights
There are advantages and disadvantages to prepaid power. The right choice for you depends on your budget, your credit score and your lifestyle.
What are the benefits of prepaid electricity?
First, prepaid gives you daily monitoring tools to be more aware of your electricity usage, for budgeting. Second, there is no contract, no deposit and no credit check. Third, you can get electricity turned on the same day with as little as $40.
What are the negatives of prepaid electricity?
Prepaid plans usually have higher fees if you have a disconnection or reconnection. And, you will pay a higher price per kilowatt hour compared to post-pay electricity. Most prepaid plans are variable rates and your price per kWh can change monthly.
If you have bad credit, you should still consider applying for post-pay electricity. For example, Champion Energy will allow you to pay a non-refundable deposit alternative of around $150. And if you are low income and on assistance programs, you can qualify to pay your deposit in two installments. Post-pay plans can be significantly cheaper than prepaid plans.