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What is a no deposit electricity plan?

At Choose Energy, our reporters seek out information that puts you in control of your energy. Our partners do not direct our editorial content, though we may reference their products in our posts. Read about how we make money to learn more.

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What is a no deposit electricity plan?

A no deposit energy plan lets you skip paying a deposit. Most energy providers set a credit threshold for their plans. In these cases, Choose Energy will run a soft credit check — the kind that doesn’t affect your credit score — to determine whether you meet the providers’ credit thresholds. Fewer than 10% of our customers pay a deposit before beginning service.

However, if a customer’s credit score does not meet the threshold set by the energy provider, then a deposit is required before the provider will begin service. Fortunately, many electricity companies offer no deposit energy plans, such as Payless Power.

Enter your ZIP code to see cheap, no deposit light companies with energy plans near you.

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