Electric Deals for Texans With a Good Credit Score

Last Updated on December 16, 2022 by Mary Pressler

In Texas, A Good Credit Score Gets You the Lowest Electricity Rate

In Texas, most energy providers require their customers to pass a credit check when entering into an electricity contract with a low fixed rate. Customers with poor credit are asked to pay a security deposit upfront. An electricity deposit costs anywhere from $100 to $250, acts as insurance to the electric company if the customer defaults on payments.

Most people with bad credit can’t pay the deposit and opt for prepaid electricity instead.

You don’t have to have good credit to get electricity in Texas, but those who do have an big advantage when it comes to getting the cheapest energy prices.

Rhythm Energy – A Texas Light Company that Rewards Good Credit

For the best electricity rates in Texas, we recommend Rhythm. Not only does Rhythm offer the lowest energy rate per kWh for those with an adequate credit score, they also reward their customers for things like enrolling in electronic billing and Auto-Pay.

We recommend a long term energy plan for our high usage, good credit customers. Rhythm has the best 24 month energy deals in the state. With a two year contract, your rate stays the same, no matter how much electric rates increase.

Try Rhythm. If you’re not satisfied with their service, you might be able to switch away without penalties. However, we’re sure you’ll love Rhythm as much as we do. Online enrollment with Rhythm takes about 5 minutes.

Get Rhythm Online

Rhythm
9.9¢
Texas Breeze 12 Month Fixed Rate
First Choice Power
10.8¢
You Got This 12 Month Fixed Rate
Direct Energy
11.1¢
Free Nights 12 Month Fixed Rate
Reliant Energy
13.7¢
Truly Free Nights 12 Month Fixed Rate
TXU
13.8¢
Season Pass 12 Month Fixed Rate

What is a Passing Credit Score for Electricity Service?

A credit rating between 690 and 719 is considered good, but each electricity provider has different thresholds for acceptance. If you’re denied electricity service by one company, you have many more options, including prepaid lights.

What is a Good Electricity Rate in Texas?

In Texas, the average residential electricity rate is 11.87￠per kWh. This is below the national average in 2021. If you happen to come across an offer that is much lower than 11.87￠, you should ask to see the Electricity Facts Label (EFL), or “facts sheet”.

Choosing the Best Electricity Offer for High Credit Scores

Searching the web for electric deals can be overwhelming with over 125 energy providers operating in Texas. People with good credit have options that include free energy, membership fees and even Amazon cards, but it’s important to understand the actual energy rate above all of the gimmicks.

Before choosing an electricity offer, make sure you read over the Electricity Facts Label, the fine print of the energy contract. There you will pertinent information such as the

Actual electricity rate
Transmission and delivery charges
Type of electricity rate (fixed, variable or market)
Length of the contract term
Early termination fees

Using the information from the EFL, you will be able to compare competitive offers and determine the best electricity rate. If you have good credit, you can lock in a cheap, fixed energy rate up to three years!