Payless Power Rates* Estimated rate for a 1000 kWh monthly usage for TEXAS-NEW MEXICO POWER COMPANY TDU customers only. Please check the Terms of Service and Electricity Data Label of the plan to confirm this data. Last rate update: 12/03/2023, 22:23 PM CST.
Type of Rates Offered by Payless Power
Payless Power uniquely tailors its services to cater to the needs of a diverse range of consumers:
- Prepaid Rates: The Pay-as-you-go service, this rate option allows customers to pay in advance, with no deposit and no long-term contract.
- No Deposit Rates: Perfect for customers who don’t wish to pay a hefty amount upfront, the no deposit plans offer affordable electricity services.
- Same-day Electricity Rates: This option provides fast electricity connection, often within hours, making it ideal for urgent service requirements.
- Fixed Rate: Locks your price per kilowatt-hour for the duration of your contract. This rate doesn't change regardless of market conditions or usage levels.
Payless Power Electricity Plans
While we strive to keep this information as accurate as possible, please note that plans and conditions can change without notice. Always check each plan's EFL for the most current information.
6 Month - Prepaid
The 6 Month - Prepaid (formerly known as Rate Lock 6) plan is Payless Power's simplest and most flexible plan. This plan is a great choice for short-term contracts or those wanting to try out Payless Power's service. With a 6-month term, enjoy prepaid energy at a fixed cost, with no surprises or hidden fees. You can recharge your account as many times as you want and always keep track of your balance through your customer dashboard.
To start the service you only need to pay $40, which will automatically top up your account. That is, it is not a deposit that will not be returned but a first energy credit to have available balance and start enjoying your prepaid electricity.
12 Month - Prepaid
The 12 Month - Prepaid plan, which was formerly called Rate Lock 12, is designed for those seeking a longer commitment with Payless Power's reputable service. With a fixed 12-month term, this plan provides prepaid electricity at a set rate, without any unexpected costs or hidden fees. Given the plan's longer duration, customers can enjoy the convenience of managing their energy use over a full year, making it an excellent option for those who want stable electricity pricing throughout different seasons.
To initiate service with the 12 Month - Prepaid plan, a payment of $40 is required. This amount directly translates into your first energy credit, kickstarting your prepaid electricity service. It's not a deposit that you lose; instead, it goes straight towards your account balance, ensuring your prepaid electricity is ready to use from day one.
About Payless Power
Payless Power is a Texas-based family-owned Retail Electric Provider (REP), conceived from the entrepreneurial vision of three brothers, inspired by their grandfather. Established in 2005, Payless Power has become a crucial provider of prepaid electricity for Texas residents, particularly those facing credit challenges.
Serving over 400 residential communities throughout the Lone Star state, Payless Power also partners with Utility Choice to deliver electricity plans for commercial needs. Dedicated to customer satisfaction, affordable rates, and community involvement, Payless Power represents not only electricity service but also a commitment to uplift local communities.
Payless Power History
Payless Power was born in 2005, brought to life by Brandon, Byron, and Brian Young, a trio of siblings carrying forward their grandfather's entrepreneurial spirit. Payless Power swiftly filled a gap in the Texan energy market by offering prepaid electricity at affordable rates, particularly appealing to customers with limited or complex credit histories.
Since the energy market in Texas was deregulated, independent providers have been able to offer competitive electricity choices. Payless Power has been part of this evolution since 2002, offering competitive and cost-effective electricity options. Committed to their community, the Young brothers continue their grandfather's philanthropic legacy, reinforcing the importance of family and small businesses in the Texan community.
Where Does Payless Power Operate?
Payless Power operates across Texas, serving the deregulated electricity market. They provide service in large cities like Houston, Dallas and Galveston, together with smaller towns such as Odessa. They closely with utilities like AEP Texas North (and others) for delivering power.
How Many Customers Does Payless Power Serve?
Payless Power serves thousands of residential and customers across Texas, making it a trusted choice for electricity needs.
What Differentiates Payless Power From Other Retail Electric Providers?
What sets Payless Power apart from other REPs is its commitment to accessible, affordable electricity.
With options like no deposit electricity and prepaid plans, they've eliminated many barriers that typically hinder people from obtaining reliable power. Its variety of options allows anyone, regardless of credit score, to have immediate access to electricity with no prerequisites. In addition, its pay-as-you-go model allows you to keep track of your usage.
The company's bilingual, Texas-based customer service also ensures a high-quality customer experience.
Does Payless Power Offer Free Nights and Weekends Plans?
Payless Power is primarily engaged in prepaid or no-deposit electricity and does not currently offer Free Nights and Weekends plans.
It is important to note that although Free Nights and Weekends plans are often advertised as a way to save, this is not always the case, as the cost of electricity during the week can be much higher than during the weekend.
Remember that all that glitters is not gold! As a customer, be sure to check the EFL of any plan before choosing it.
Payless Power Switch-Hold
A switch-hold is a restriction applied to your electricity meter by Payless Power or any other Retail Electric Provider (REP), generally due to an unsettled balance on your account or meter tampering. This hold prevents customers from changing providers before settling the outstanding balance.
For instance, when a deferred payment plan is agreed upon, the REP could apply a switch-hold to ensure you fulfill your obligations. To lift this hold, the outstanding balance must be fully paid or required obligations met. If you are a new occupant dealing with a previous resident's switch-hold, customer service at Payless Power can guide you through the process.
Upon submission of all required documentation and approval, a switch-hold removal request submitted to Payless Power before 1:00 PM will typically be executed by 8:00 PM on operational days, whereas those submitted after 1:00 PM will be actioned by 12:00 PM the following day.
Payless Power for Businesses
Yes, Payless Power does cater to businesses! In partnership with Utility Choice, Payless Power provides business electricity service, ensuring optimal electricity prices for your business by shopping multiple partners.
To inquire about Payless Power's rates for commercial premises you can contact their customer service, whose contact details you will find below on this page.
Payless Power Reviews
Here are a couple of reviews reflecting the experiences of Payless Power customers:
- "Life Savers!!! When everyone else said NO, Payless Power said "YES." Thank you!"
- "Easy pay and a daily reminder of how much you use so you have a running tally of your money left. Love this system!"
- "Kind of pricey but its great when your credit isnt the best!"
- "The payment method is easy, so far it seems to be cheap, we will see how it goes in the hot season. I give it 3 stars because they charge you a fee of $4.65 for each recharge if it is less than $75"
Payless Power Contact Information
Payless PowerP.O. Box 47057, Fort Worth, TX 76147
Payless Power7524 Mosier View CT Suite 100, Fort Worth, TX 76118