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No-Deposit Electricity Plans

Written by Sarah Lozanova/

Edited by Hannah Whatley

Last updated 06/22/2023

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Key Points

  • Many standard energy plans require upfront deposits from customers who don’t meet the light company’s credit threshold.
  • NoNo-deposit electricity plans allow you to skip the credit check and the deposit.deposit plans allow you to skip the credit check and the deposit.
  • With a prepaid no-deposit plan, you can recharge your account balance as needed to ensure you keep your service online.
  • SaveOnEnergy works with various light companies with no-deposit plans — enter your ZIP code to explore the options available in your area.

No-deposit electricity rates

Frequently asked questions about no-deposit electricity plans

  • When you sign up for a prepaid, no-deposit electricity plan with SaveOnEnergy, we won’t run a credit check. SaveOnEnergy runs a soft credit check, which doesn’t affect your credit score, when providers set a credit threshold for certain fixed-rate and variable-rate plans. However, a light company with no-deposit options doesn’t set a credit threshold for prepaid plans, so we don’t run a credit check.

  • The SaveOnEnergy marketplace currently offers six-month and 12-month prepaid energy plans from Payless Power. You can choose the plan that makes the most sense for your household energy needs and budget.

  • Payless Power offers same-day connection, so you can enjoy your new no-deposit electricity plan right away. You will have the option to begin your service once you have completed the enrollment process.

  • If your current provider operates in your new ZIP code, you may be able to transfer your plan when you move. Contact your energy provider directly to notify them of your change of address and find out if your plan is transferable.

  • If you have a month-to-month electricity plan with no deposit, you can cancel at any time without penalty. However, if your no-deposit electricity plan has a contract term that hasn’t expired, you may need to pay an early termination fee (ETF). Refer to your plan’s Electricity Facts Label (EFL) for information about this.

  • Our energy experts are happy to speak with you about no-deposit light plans. We’ll happily answer your questions, walk you through your options, and help you find the best no-deposit plan for your energy needs and budget. Just call the number on your screen.

Ready to shop for an energy plan? Let’s get you taken care of. Call:

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