This post is sponsored by Payless Power, providing Prepaid electricity for Texas residents
When was the last time you stayed without electricity? Did you feel like it was the end of the world?
That is how important electricity is in this modern society. Almost every machine, appliance, and equipment run on electricity. We have grown so dependent on electricity that there is almost nothing we can do without electricity.
With electricity comes electricity bills. The high demand for electricity has led to an increase in electricity charges. High electricity bills have become the order of the day as energy providers strive to balance their business needs with the ever-increasing market demands. While you might be feeling like you have no control over the matter, the truth is that you have so many options to choose from and one of them is the prepaid electricity plan.
A prepaid electricity plan, as the name suggests, is an electricity payment option where you deposit some funds into your account and basically pay as you go, or rather, you pay as you use the electricity. Your usage limit is based on the amount you have in your account. You have options on when you want to deposit the funds. It could be monthly, weekly, or bi-weekly – it is your choice to make.
Here are five reasons why you should choose prepaid electricity over the traditional method
1. Easily Monitor your electricity usage and charges
With prepay electricity, you can easily monitor your electricity usage rate, the cost per kilowatt-hour and the balance in your account thanks to the daily text and email message that are sent to you.Additionally, you will also be notified if your balance is getting low and therefore you need not to worry about power disconnection due to the fact that you forgot to deposit some funds in your account.
This is completely different to what happens in the traditional electricity plan, where you are required to pay at the end of the month and in some instances, you’ll be required to pay both the service fees and deposit. It is also almost impossible to track your expenditure as you only get your bill at the end of the month. Another drastic difference between these two plans is that, unlike the prepaid plan where you get reminders and you can even call ahead to request a bit of time to pay, in the traditional plan, your electricity will be disconnected without notice.
2. Pay as little or as much as you want
In a traditional plan, you are essentially bonded on a particular rate based on your consumption rates. If your usage is too high or too low in a billing cycle, your energy provider might charge you an additional fee.
If you are not certain on how much energy you use per month, you can opt for a prepaid plan, since with this plan, you can not only establish your energy usage rate, but also develop a budget and avoid unnecessary fees. Another great thing about it is that there are no surprise charges and no connection fees.
3. Prepaid charges are cost effective
Most electricity providers offer a variable rate per kilowatt-hour. For instance, at peak hours the rate goes up and comes back down during off peak. This is the reason why there is an increase in electricity prices during winter and summer. These are the periods where energy demands increase and therefore the prices also increase as well.
As for prepaid plans, the rates remain the same regardless of whether or not it is a peak period or not or it is summer, winter, autumn, or spring.
4. No deposit and no credit checks
The best thing about prepaid electricity is that it does not require any deposit fees, no credit checks, and no contract.So, if you have a poor credit score or you have made some financial mistakes in the past, with a prepaid plan, you don’t need to worry about all that. In fact, some prepaid electricity plan gives you the opportunity to improve your credit score. There are some prepaid plans that after you have subscribed with them for a certain period of time (usually 3 to 4 months), you are given the opportunity to change to a long term contract with no deposit – thanks to your good track record with them.
5. Anyone can join
Lastly, prepaid electricity plans have no complicated requirement for you to join. All you need to have is a phone (for text message reminders), open a prepaid account, and deposit some funds. With this plan, anyone can join – and I mean anyone regardless of your financial situation.
The Bottom line
Prepaid plans are perfect for anyone who is looking for an electricity package that doesn’t have a lot of requirements. It is the best way to avoid hidden fees, credits checks, deposit, and literally all the pain that comes with the traditional electricity plan.
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