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What Is a No-Deposit Electricity Plan?

Learn more about no-deposit and prepaid electricity plans.

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What is a no-deposit electricity plan?

No-deposit electricity plans are popular for customers who want to avoid paying a deposit upfront. Many no-deposit plans allow you to pay for energy in advance, monitor usage, and don’t require you to sign a contract.

Standard fixed-rate and variable-rate plans typically require passing a credit check and paying a deposit. No-deposit electricity plans are more flexible because they don’t require a contract. Prepaid electricity plans are a common type of no-deposit plan. Prepaid plans let you pay for your electricity upfront, ensuring you only pay for the energy you consume each month.

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