Depending on the electricity company you choose to go with you may find that no deposit and prepaid electricity plans are beginning to look a lot more like typical electricity plans you see with more traditional type energy companies.
In the past all you could find in regards to a good no deposit electricity plan in places like Houston and Dallas were super high rate plans that hooked you in with a $99 start-up fee.
The fee only lasts a week or two and then they start asking for more money. This was the time when people began asking, “well what exactly am I paying this electric company as far as the per kilowatt-hour rate.”
What many would discover after the fact of signing up is that their rate was 16 cents per kilowatt-hour and sometimes even higher than this.
Now there are prepaid electricity companies that charge competitive per kilowatt-hour rates because they can use a combination of a prepaid electricity meter hooked up to a new smart meter.
The smart meter sends out real-time data on the exact electric usage being used at someones home.
People can insert a prepaid electricity card into the meter and keep service on simply by recharging the card and or buying a new one and then inserting into the prepaid electric meter on the side of the house.
This type of prepaid electric company can charge based on a competitive per kilowatt-hour rate because they know you will have to pay for exact electric usage and not estimated electric usage.
Quite a few prepaid electric companies would charge you based on estimated electric usage and say they would reimburse you for the difference if you paid too much.
What would then happen is that after a year or two these electricity providers that offered this no deposit prepaid plan would close up business and leave town with your money.
These scam prepaid companies will soon be no more as traditional electricity company brands you may be familiar with are beginning to offer competitive no deposit electricity plans.
