You would think that with all the government assistance programs these days there would be no need for these prepaid electric companies that get you to pay in advance for your electric service.
In reality the state services are not used by many people that qualify simply because there are plenty of hurdles for most of us just to get that assistance.
For instance, the reason people choose to go with a prepaid provider is because they were asked by a traditional company for a large deposit.
Now comes the need for a way to waive your electric deposit. If you call one of the many organizations that work in tandem with the Department of Health and Human Services they will tell you what you need to do to qualify.
You must as a start be a disabled adult. If you are disabled and show proof that your life is in danger by use of a doctor’s note faxed or emailed to your electric provider you can receive a waiver for your electric deposit.
Many of us have some disability and I venture to guess if you contacted the right doctor you could even get a psychologist to justify a reason that it is medically necessary that your electric deposit be waived.
Fortunately not everyone is out to work the state government system to that degree but yet there are people out there that make their whole existence about working the system in every way possible.
For the rest of us who simply have bad credit, low credit, no credit, or just don’t like dealing with a bureaucracy a prepaid provider is your best choice for waiving your electric deposit.
On average you will spend about $400 more annually by choosing a prepaid provider but since smart meter technology has gone into full effect this disparity is dramatically dropping.
You can now sign up with many prepaid providers in the market at exactly the same prices traditional electric companies charge.
How is this possible? The smart meter precisely measures your electric usage at the meter and sends it real time so your money is charged against this usage more accurately than ever before.
No longer are the days of estimating your electric usage based on a prior tenant who lived at your home or apartment a year ago.
In the past people would sometimes be charged $200 more per month than what they actually used because of estimates like these.
After 6 months to a year of inaccurate measurements a correction of charges called a true-up was made and the customer would be refunded the extra money they were charged.
There is now no reason to estimate usage with real time data available and so more people who want to keep that extra $300 – $500 in their pocket are doing so.
Electricity deposits can be very expensive but the prepaid provider offers the easiest manner of avoiding that large fee and getting lights on fast.
Our comparison tool in green offers both traditional and prepaid electric companies. Enter your zipcode and give it a whirl!