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What Is a No-Deposit Electricity Plan?

Learn more about no-deposit and prepaid electricity plans.

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?

No-deposit electricity plans are a popular option for customers who want to manage their energy costs. You simply pay for your electricity up front and top up your account as your funds run low. 

Unlike fixed-rate and variable-rate plans, where you usually need to pass a credit check and pay a deposit fee, no-deposit plans let you skip over a hard credit check. It’s an ideal option for anyone concerned with this part of the process.

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