Gexa Energy vs Payless Power: Credit Check vs No Credit Check

At a Glance

Factor	Gexa Energy	Payless Power
Parent Company	NextEra Energy (NYSE: NEE)	Young Energy (family-owned)
Years in Texas	24	21
Credit Check	Yes (soft pull)	No
Prepaid Available	No	Yes (core product)
Green Plans	100% renewable (all plans)	26% renewable content
On ComparePower	Yes	Yes

Bottom Line: If your credit can pass a soft pull, Gexa saves you $500-$800 per year on the same grid. If your credit can’t pass any check, Payless Power gets you connected today with $40 and no questions. These providers serve completely different customers.

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The Corporate Reality

These two companies exist in different universes.

Gexa Energy is owned by NextEra Energy [NYSE: NEE], the world’s largest renewable energy generator. $190 billion market cap. Fortune 200. Gexa is the premium retail brand; sister company Frontier Utilities is the budget option. Both require credit checks.

Payless Power is owned by Young Energy, LLC—a family business founded by three brothers (Brandon, Byron, and Brian Young) in Dallas in 2005. Twenty-one years running. No corporate parent. No stock ticker. The entire business model exists to serve people traditional providers turn away.

Gexa has $190 billion behind it. Payless has 13,700+ customer reviews averaging 4.5 stars behind it. Different kinds of credibility.

What They Actually Sell

Gexa’s lineup:

• Fixed-rate plans (12, 24, 36 months) at 8.6-20.4 cents/kWh
• Variable-rate (Gexa Flex)—month-to-month, no ETF
• Solar buyback with battery dispatch options
• EV charging with free overnight electricity
• All plans 100% renewable
• $150 ETF on 12-month plans

Payless Power’s lineup:

• Prepaid plans (6 and 12 months) at ~19.0-19.1 cents/kWh
• Fixed-rate plans also available (no credit check)
• Daily billing with balance alerts via text/email
• $40 startup balance (goes toward electricity, not a deposit)
• 26% renewable content
• $49 ETF—among the lowest in Texas

The rate gap is massive. At 1,000 kWh/month, Gexa at 10 cents costs roughly $100. Payless at 19 cents costs roughly $190. That’s $90/month, or $1,080/year. Even Gexa’s most expensive plan is cheaper than Payless’s cheapest.

But rates aren’t the full story. A $400 Gexa deposit that you can’t afford is more expensive than the Payless premium in the short term.

The Credit & Deposit Question

This is the entire comparison.

Gexa: Soft credit pull. Good credit = no deposit. Bad credit = $400 deposit required. Waivers available for good utility payment history, age 65+, or family violence victims. No prepaid option exists.

Payless Power: No credit check. No deposit. No exceptions. The $40 startup goes directly toward your electricity—it’s your first few days of power, not a deposit. Sign up early enough and you’re connected in 4-6 hours.

The math that matters:

• If you can pass Gexa’s credit check: you save $500-$800/year on rates. Use Gexa.
• If you can scrape together a $400 deposit for Gexa: the deposit pays for itself in 4-5 months through rate savings. The deposit comes back after 12 months of on-time payments. Use Gexa.
• If you can’t pass a credit check AND can’t afford a deposit: Payless Power is your best option in Texas. Use Payless.

This isn’t a close call for people who qualify for Gexa. The rate difference is too large. But Payless Power doesn’t exist for people with options—it exists for people without them.

The Verdict

Choose Gexa if:

• Your credit passes a soft pull—you’ll pay 40-50% less per kWh
• You can afford a $400 deposit if needed—it pays for itself in months
• 100% renewable energy matters to you
• You want plan variety: solar buyback, EV charging, 36-month locks

Choose Payless Power if:

• No credit check is a hard requirement—bankruptcy, no history, previous utility debt
• You need power today with $40 and a valid address
• Daily usage alerts help you budget electricity like a prepaid phone
• You move often and want a $49 ETF instead of $150

The transition plan: If you’re on Payless Power now, use the 6-12 months to rebuild your utility payment history. Pay on time every month. Then apply to Gexa (or Frontier, 4Change, or any traditional provider) with a clean record. The rate savings from switching will add up to hundreds per year.