What's Up With Texas Electricity Rate Plan Deposits?

What’s Up With Texas Electricity Rate Plan Deposits?

Brian A.

Brian A.

Energy Advisor

texas-pier

Electricity is fully deregulated in the state of Texas, with the exception of a few municipalities and cities, such as Austin. In Texas, customers can no longer purchase electricity supply from local utilities, such as Oncor, TMNP CenterPoint, AEP Texas Central, or AEP Texas North. In fact, Texas customers must purchase their electricity from a retail energy provider. Since retail providers handle all billing, many of them require a credit check from customers and even a security deposit. Here is what you need to know about security deposits on Texas electricity rate plans.

 

Why The Deposit?

 

In other deregulated states, such as Pennsylvania, local utility companies are still actively involved in the electricity supply process. In these states, consumers have the option to purchase electricity from a supplier or from their local utility. And what’s more, the local utility companies are still in charge of billing.

 

If you elect to choose a supplier in these types of states, the supplier’s charges show up right on your local utility bill. In fact, you still pay one bill to your utility provider. The utility company, then in turn, sends the supplier their portion of the electricity bill.

 

There are no credit checks or deposits with suppliers in these states because the local utility company guarantees payment to the supplier. Because they have the power (no pun intended) to shut off a customer’s electricity due to non-payment, it becomes easier to collect what’s owed.

 

Texas, on the other hand, is a whole different animal. Because Texas electricity providers are responsible for their own billing, they also have to collect payments from their customers. Even more, Texas energy providers do not hold the authority to shut off a customer’s electricity supply. Even in scenarios where the supplier’s charges appear on the local utility bill, the supplier doesn’t get paid by the utility company until the customer pays his/her bill. For these reasons, many suppliers require customers to put up a deposit or pass a credit check.

 

Are There No Deposit Plans?

 

Yes! There are many suppliers in Texas offering plans with no deposits or credit checks. Remember, energy deregulation created a free market for suppliers to compete for your business. Offering rate plans with no deposit is another way suppliers try to stand out from the crowd. Some suppliers even pull a soft credit check, and as long as your credit score is above a certain threshold, no deposit is required.

 

How Can I Find A Zero Deposit Electricity Plan In Texas?

 

Using our energy shopping website is a great start! In fact, deposits is a filterable search option on our site. Simply enter your Texas zip code and enter your search parameters on the left side of the page. All of the rates and offers that meet your criteria will be displayed for you to browse. Check out your Texas electricity options below.

 

AEP Texas Central Electric Rates

Best AEP Texas Central Electric Rates - Residential
  1. 1 months Fixed

    Utility: AEP Texas Central (TX)

    View Plan Details

    12.10¢

    per kWh
    At 1000 kWh

    13.00 ¢

    PER kWh
    At 500 kWh

    11.60 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Energy Texas Monthly
    Term: 1 Months Fixed
    Product: Electric
    Utility: AEP Texas Central (TX)
    Supplier: Energy Texas
    Early Termination Fee: $0
    Plan Description:

    Lock in a great rate for your first billing cycle!. After your first bill, price is subject to market rate.

  2. 3 months Fixed

    Utility: AEP Texas Central (TX)

    View Plan Details

    13.70¢

    per kWh
    At 1000 kWh

    14.70 ¢

    PER kWh
    At 500 kWh

    13.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Taste of Energy Texas 3
    Term: 3 Months Fixed
    Product: Electric
    Utility: AEP Texas Central (TX)
    Supplier: Energy Texas
    Early Termination Fee: $100.00
    Plan Description:

    Get a taste of Energy Texas and get to know us with our 3 month plan. 3 months of 100% renewable energy. Giddy Up Guaranteed!.

  3. 36 months Fixed

    Utility: AEP Texas Central (TX)

    View Plan Details

    14.40¢

    per kWh
    At 1000 kWh

    15.40 ¢

    PER kWh
    At 500 kWh

    13.90 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: 36 Inflation Fix
    Term: 36 Months Fixed
    Product: Electric
    Utility: AEP Texas Central (TX)
    Supplier: Energy Texas
    Early Termination Fee: $500.00
    Plan Description:

    Protect yourself against inflation and lock in your rate for 3 years with our most competitive pricing. 100% renewable energy from Texas sources. Giddy Up Guaranteed!.

  4. 18 months Fixed

    Utility: AEP Texas Central (TX)

    View Plan Details

    14.70¢

    per kWh
    At 1000 kWh

    15.70 ¢

    PER kWh
    At 500 kWh

    14.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: The Gruene 18
    Term: 18 Months Fixed
    Product: Electric
    Utility: AEP Texas Central (TX)
    Supplier: Energy Texas
    Early Termination Fee: $275.00
    Plan Description:

    Lock in a great fixed rate without a long-term commitment. 18 months of 100% renewable energy. Giddy Up Guaranteed!.

  5. 24 months Fixed

    Utility: AEP Texas Central (TX)

    View Plan Details

    14.80¢

    per kWh
    At 1000 kWh

    15.80 ¢

    PER kWh
    At 500 kWh

    14.30 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Bigger Than Texas 24
    Term: 24 Months Fixed
    Product: Electric
    Utility: AEP Texas Central (TX)
    Supplier: Energy Texas
    Early Termination Fee: $400.00
    Plan Description:

    Guarantee your rate for 2 years. Set it and forget it with 24 months of 100% renewable energy. Giddy Up Guaranteed!.

AEP Texas North Electric Rates

Best AEP Texas North Electric Rates - Residential
  1. 1 months Fixed

    Utility: AEP Texas North (TX)

    View Plan Details

    11.60¢

    per kWh
    At 1000 kWh

    12.50 ¢

    PER kWh
    At 500 kWh

    11.10 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Energy Texas Monthly
    Term: 1 Months Fixed
    Product: Electric
    Utility: AEP Texas North (TX)
    Supplier: Energy Texas
    Early Termination Fee: $0
    Plan Description:

    Lock in a great rate for your first billing cycle!. After your first bill, price is subject to market rate.

  2. 3 months Fixed

    Utility: AEP Texas North (TX)

    View Plan Details

    13.30¢

    per kWh
    At 1000 kWh

    14.30 ¢

    PER kWh
    At 500 kWh

    12.80 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Taste of Energy Texas 3
    Term: 3 Months Fixed
    Product: Electric
    Utility: AEP Texas North (TX)
    Supplier: Energy Texas
    Early Termination Fee: $100.00
    Plan Description:

    Get a taste of Energy Texas and get to know us with our 3 month plan. 3 months of 100% renewable energy. Giddy Up Guaranteed!.

  3. 36 months Fixed

    Utility: AEP Texas North (TX)

    View Plan Details

    13.70¢

    per kWh
    At 1000 kWh

    14.60 ¢

    PER kWh
    At 500 kWh

    13.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: 36 Inflation Fix
    Term: 36 Months Fixed
    Product: Electric
    Utility: AEP Texas North (TX)
    Supplier: Energy Texas
    Early Termination Fee: $500.00
    Plan Description:

    Protect yourself against inflation and lock in your rate for 3 years with our most competitive pricing. 100% renewable energy from Texas sources. Giddy Up Guaranteed!.

  4. 24 months Fixed

    Utility: AEP Texas North (TX)

    View Plan Details

    14.40¢

    per kWh
    At 1000 kWh

    15.40 ¢

    PER kWh
    At 500 kWh

    13.90 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Bigger Than Texas 24
    Term: 24 Months Fixed
    Product: Electric
    Utility: AEP Texas North (TX)
    Supplier: Energy Texas
    Early Termination Fee: $400.00
    Plan Description:

    Guarantee your rate for 2 years. Set it and forget it with 24 months of 100% renewable energy. Giddy Up Guaranteed!.

  5. 18 months Fixed

    Utility: AEP Texas North (TX)

    View Plan Details

    14.60¢

    per kWh
    At 1000 kWh

    15.60 ¢

    PER kWh
    At 500 kWh

    14.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: The Gruene 18
    Term: 18 Months Fixed
    Product: Electric
    Utility: AEP Texas North (TX)
    Supplier: Energy Texas
    Early Termination Fee: $275.00
    Plan Description:

    Lock in a great fixed rate without a long-term commitment. 18 months of 100% renewable energy. Giddy Up Guaranteed!.

CenterPoint Electric Rates

Best CenterPoint Energy Electric Rates - Residential
  1. 1 months Fixed

    Utility: CenterPoint Electric (TX)

    View Plan Details

    12.60¢

    per kWh
    At 1000 kWh

    13.50 ¢

    PER kWh
    At 500 kWh

    12.10 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Energy Texas Monthly
    Term: 1 Months Fixed
    Product: Electric
    Utility: CenterPoint Electric (TX)
    Supplier: Energy Texas
    Early Termination Fee: $0
    Plan Description:

    Lock in a great rate for your first billing cycle!. After your first bill, price is subject to market rate.

  2. 3 months Fixed

    Utility: CenterPoint Electric (TX)

    View Plan Details

    12.70¢

    per kWh
    At 1000 kWh

    13.60 ¢

    PER kWh
    At 500 kWh

    12.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Taste of Energy Texas 3
    Term: 3 Months Fixed
    Product: Electric
    Utility: CenterPoint Electric (TX)
    Supplier: Energy Texas
    Early Termination Fee: $100.00
    Plan Description:

    Get a taste of Energy Texas and get to know us with our 3 month plan. 3 months of 100% renewable energy. Giddy Up Guaranteed!.

  3. 36 months Fixed

    Utility: CenterPoint Electric (TX)

    View Plan Details

    14.10¢

    per kWh
    At 1000 kWh

    15.00 ¢

    PER kWh
    At 500 kWh

    13.60 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: 36 Inflation Fix
    Term: 36 Months Fixed
    Product: Electric
    Utility: CenterPoint Electric (TX)
    Supplier: Energy Texas
    Early Termination Fee: $500.00
    Plan Description:

    Protect yourself against inflation and lock in your rate for 3 years with our most competitive pricing. 100% renewable energy from Texas sources. Giddy Up Guaranteed!.

  4. 18 months Fixed

    Utility: CenterPoint Electric (TX)

    View Plan Details

    14.70¢

    per kWh
    At 1000 kWh

    15.60 ¢

    PER kWh
    At 500 kWh

    14.20 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: The Gruene 18
    Term: 18 Months Fixed
    Product: Electric
    Utility: CenterPoint Electric (TX)
    Supplier: Energy Texas
    Early Termination Fee: $275.00
    Plan Description:

    Lock in a great fixed rate without a long-term commitment. 18 months of 100% renewable energy. Giddy Up Guaranteed!.

  5. 24 months Fixed

    Utility: CenterPoint Electric (TX)

    View Plan Details

    14.80¢

    per kWh
    At 1000 kWh

    15.70 ¢

    PER kWh
    At 500 kWh

    14.30 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Bigger Than Texas 24
    Term: 24 Months Fixed
    Product: Electric
    Utility: CenterPoint Electric (TX)
    Supplier: Energy Texas
    Early Termination Fee: $400.00
    Plan Description:

    Guarantee your rate for 2 years. Set it and forget it with 24 months of 100% renewable energy. Giddy Up Guaranteed!.

Oncor Electric Rates

Best Oncor Electricity Rates - Residential
  1. 3 months Fixed

    Utility: Oncor (TX)

    View Plan Details

    11.10¢

    per kWh
    At 1000 kWh

    11.90 ¢

    PER kWh
    At 500 kWh

    10.70 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Taste of Energy Texas 3
    Term: 3 Months Fixed
    Product: Electric
    Utility: Oncor (TX)
    Supplier: Energy Texas
    Early Termination Fee: $100.00
    Plan Description:

    Get a taste of Energy Texas and get to know us with our 3 month plan. 3 months of 100% renewable energy. Giddy Up Guaranteed!.

  2. 1 months Fixed

    Utility: Oncor (TX)

    View Plan Details

    12.10¢

    per kWh
    At 1000 kWh

    12.90 ¢

    PER kWh
    At 500 kWh

    11.60 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Energy Texas Monthly
    Term: 1 Months Fixed
    Product: Electric
    Utility: Oncor (TX)
    Supplier: Energy Texas
    Early Termination Fee: $0
    Plan Description:

    Lock in a great rate for your first billing cycle!. After your first bill, price is subject to market rate.

  3. 36 months Fixed

    Utility: Oncor (TX)

    View Plan Details

    13.20¢

    per kWh
    At 1000 kWh

    14.00 ¢

    PER kWh
    At 500 kWh

    12.70 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: 36 Inflation Fix
    Term: 36 Months Fixed
    Product: Electric
    Utility: Oncor (TX)
    Supplier: Energy Texas
    Early Termination Fee: $500.00
    Plan Description:

    Protect yourself against inflation and lock in your rate for 3 years with our most competitive pricing. 100% renewable energy from Texas sources. Giddy Up Guaranteed!.

  4. 18 months Fixed

    Utility: Oncor (TX)

    View Plan Details

    13.70¢

    per kWh
    At 1000 kWh

    14.50 ¢

    PER kWh
    At 500 kWh

    13.30 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: The Gruene 18
    Term: 18 Months Fixed
    Product: Electric
    Utility: Oncor (TX)
    Supplier: Energy Texas
    Early Termination Fee: $275.00
    Plan Description:

    Lock in a great fixed rate without a long-term commitment. 18 months of 100% renewable energy. Giddy Up Guaranteed!.

  5. 24 months Fixed

    Utility: Oncor (TX)

    View Plan Details

    13.80¢

    per kWh
    At 1000 kWh

    14.60 ¢

    PER kWh
    At 500 kWh

    13.40 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Bigger Than Texas 24
    Term: 24 Months Fixed
    Product: Electric
    Utility: Oncor (TX)
    Supplier: Energy Texas
    Early Termination Fee: $400.00
    Plan Description:

    Guarantee your rate for 2 years. Set it and forget it with 24 months of 100% renewable energy. Giddy Up Guaranteed!.

TNMP Electric Rates

Best TNMP Electric Rates - Residential
  1. 1 months Fixed

    Utility: TNMP (TX)

    View Plan Details

    13.10¢

    per kWh
    At 1000 kWh

    14.30 ¢

    PER kWh
    At 500 kWh

    12.40 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Energy Texas Monthly
    Term: 1 Months Fixed
    Product: Electric
    Utility: TNMP (TX)
    Supplier: Energy Texas
    Early Termination Fee: $0
    Plan Description:

    Lock in a great rate for your first billing cycle!. After your first bill, price is subject to market rate.

  2. 3 months Fixed

    Utility: TNMP (TX)

    View Plan Details

    13.20¢

    per kWh
    At 1000 kWh

    14.50 ¢

    PER kWh
    At 500 kWh

    12.60 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Taste of Energy Texas 3
    Term: 3 Months Fixed
    Product: Electric
    Utility: TNMP (TX)
    Supplier: Energy Texas
    Early Termination Fee: $100.00
    Plan Description:

    Get a taste of Energy Texas and get to know us with our 3 month plan. 3 months of 100% renewable energy. Giddy Up Guaranteed!.

  3. 36 months Fixed

    Utility: TNMP (TX)

    View Plan Details

    14.60¢

    per kWh
    At 1000 kWh

    15.90 ¢

    PER kWh
    At 500 kWh

    14.00 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: 36 Inflation Fix
    Term: 36 Months Fixed
    Product: Electric
    Utility: TNMP (TX)
    Supplier: Energy Texas
    Early Termination Fee: $500.00
    Plan Description:

    Protect yourself against inflation and lock in your rate for 3 years with our most competitive pricing. 100% renewable energy from Texas sources. Giddy Up Guaranteed!.

  4. 18 months Fixed

    Utility: TNMP (TX)

    View Plan Details

    15.20¢

    per kWh
    At 1000 kWh

    16.50 ¢

    PER kWh
    At 500 kWh

    14.60 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: The Gruene 18
    Term: 18 Months Fixed
    Product: Electric
    Utility: TNMP (TX)
    Supplier: Energy Texas
    Early Termination Fee: $275.00
    Plan Description:

    Lock in a great fixed rate without a long-term commitment. 18 months of 100% renewable energy. Giddy Up Guaranteed!.

  5. 24 months Fixed

    Utility: TNMP (TX)

    View Plan Details

    15.30¢

    per kWh
    At 1000 kWh

    16.60 ¢

    PER kWh
    At 500 kWh

    14.70 ¢

    PER kWh
    At 2000 kWh
    SIGN UP
    Plan Name: Bigger Than Texas 24
    Term: 24 Months Fixed
    Product: Electric
    Utility: TNMP (TX)
    Supplier: Energy Texas
    Early Termination Fee: $400.00
    Plan Description:

    Guarantee your rate for 2 years. Set it and forget it with 24 months of 100% renewable energy. Giddy Up Guaranteed!.

Recent Articles

Subscribe To Our Market Updates

Related Articles

Author's Picks