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OVO Energy Review
Are you tired of overpaying for your electricity? Sick of deciphering contracts and seeing your rates go up without any explanation? At Electricity Monster, we aim to find you a quick and cost-effective solution for your electricity needs so you don’t have to.
This detailed review of OVO Energy Australia covers a wide range of topics you may find helpful if you are in the market for a new energy retailer or just want to learn more about what OVO Energy has to offer.
OVO Energy first entered the UK market in 2009 with a goal to make energy more affordable and accessible. Looking to build on their success, they branched out into the Australian market in late 2019 with the same green approach. With an unorthodox approach to billing and payment, OVO Energy has certainly become an intriguing option for Aussies. But, do their plans fit your budget and personal needs? Read below to find out.
OVO Energy Plans VIC
Wondering if Victoria is serviced by OVO Energy? In the table below, you will find a summary of the latest residential plans organised by lowest to highest in terms of pricing. Additionally, you will also get a $100 credit from Ovo Energy which has been added into the plans listed below.
|Plan Name||% Below VDO*||Price/year (Est.)|
|One Plan Basic Plan||21%||$1,248|
|One Plan + 100%||12%||$1,380|
|One Plan Basic Plan + 100%||8%||$1,440|
*Victoria electricity rates are based on usage of 4000kWh/year for a residential customer on a single rate tariff in the Citipower network, the VDO reference price is: $1,571 / year. Click here for more information.
OVO Energy Plans NSW
Wondering if New South Wales is serviced by OVO Energy? In the table below, you will find a summary of the latest residential plans organised by lowest to highest in terms of pricing. Additionally, you will also get a $100 credit from Ovo Energy which has been added into the plans listed below.
|Plan Name||% Below DMO*||Price/year (Est.)|
|One Plan + 100%||3%||$1,776|
*New South Wales electricity rates are based on usage of 3911kWh/year for a residential customer on a single rate tariff in the Ausgrid network, the DMO reference price is: $1,827 / year. Click here for more information.
OVO Energy Plans SA
Wondering if South Australia is serviced by OVO Energy? In the table below, you will find a summary of the latest residential plans organised by lowest to highest in terms of pricing. Additionally, you will also get a $100 credit from Ovo Energy which has been added into the plans listed below.
|Plan Name||% Below DMO*||Price/year (Est.)|
|One Plan + 100%||2%||$2,232|
*South Australia electricity rates are based on usage of 4011kWh/year for a residential customer on a single rate tariff in the SA Power Networks, the DMO reference price is: $2,279/ year. Click here for more information.
OVO Energy Plans QLD
Wondering if Queensland is serviced by OVO Energy? In the table below, you will find a summary of the latest residential plans organised by lowest to highest in terms of pricing. Additionally, you will also get a $100 credit from Ovo Energy which has been added into the plans listed below.
|Plan Name||% Below DMO*||Price/year (Est.)|
|One Plan + 100%||0%||$1,740|
*Queensland electricity rates are based on usage of 4613kWh/year for a residential customer on a single rate tariff in the Energex network, the DMO reference price is: $1,969/ year. Click here for more information.
OVO Energy Electricity Plans
OVO Energy currently offers Australians one market plan and a Victoria-specific plan. We have broken down the details of each below so you have a better idea of what each entails.
The One Plan
The One Plan is OVO Energy’s standard residential energy plan. Some perks that customers may benefit from include, but are not limited to:
- Flexible rates
- No transaction or exit fees
- 100% standard GreenPower
- 100% carbon neutral energy at no additional cost
The One Plan operates on a direct debit payment system and implements bill smoothing, which generally means that your estimated annual energy costs will be spread out over smaller, monthly instalments.
Your total payment is calculated based on an estimate of your electricity usage over a one-year period. Some factors that can influence this amount include:
- The average size of your household
- Your past electricity usage
The total annual payment amount is then divided by 12 in order to calculate your monthly payments. It is important to note that by default, customers who sign up for this plan will also agree to bill smoothing.
The general idea behind ‘bill smoothing’ is that customer accounts may be in debit or credit each month based on your overall energy consumption, therefore evening out the account balance over the 12-month period. This plan however, favors direct debit payments, leaving out the option to pay with credit card, BPAY, and other payment methods.
One benefit to this plan is that any time a customer’s account is in credit, OVO Energy will pay 3% interest on this balance – known as the OVO Interest Reward program. Furthermore, customers that are in debt will not be charged interest based on what is due upon settlement.
Does OVO Energy Offer Solar?
Customers in QLD, VIC, and SA who have a smart meter installed in their home can benefit from a number of solar energy feed in Tariffs. According to OVO Energy, these tariffs are available to customers with a Solar PV system of 5kWh and under installed capacity.
For customers currently on Gross Metering, OVO Energy can assist you in upgrading to a smart meter and even switch you over to Net Metering at no additional cost. OVO Energy can also perform a meter reading for your home as well. Contact the retailer to learn more.
On the other hand, if you are on Net Metering, yet have a basic meter installed, your current meter will need to be upgraded. OVO Energy can provide assistance with smart meter installation. Contact them to learn more.
Ovo Energy Solar Feed In Tariff Rates
In the table provided, you’ll find the latest solar tariff feed in rates that OVO Energy offers in each state.
|State||Minimum FIT (c/kWh)||Maximum FIT (c/kWh)|
OVO Energy and Renewable Energy
OVO Energy has a strong stance on supporting renewable energy. After all, it played a major role in the inception of the company itself. By dedicating themselves to protecting the environment, they may be appealing to residents and business owners who are environmentally-conscious and want to reduce their carbon footprint.
OVO Energy and GreenPower
OVO Energy offers green initiatives such as their 100% carbon neutral plans that come with 10% Greenpower at no extra cost. Customers can also upgrade to 100% GreenPower for added renewable energy support.
Purchasing GreenPower has its benefits as you are displacing your energy usage in favor of renewable energy. Moreover, OVO Energy states they are audited on an annual basis by the GreenPower program for ease of mind.
Charge Anytime is an incentive that benefits electric vehicle owners. Customers can charge for 10p per kWh any time an EV is smart charged. This equates to about 3p a mile which is substantially lower than the price of petrol.
In order to enroll in the Charge Anytime program, customers must have a compatible EV or charger, a smart meter, and an active OVO account.
OVO Energy Service Area
Want to know if OVO Energy services your area? We’ve got you covered. This table covers OVO Energy’s service areas in Victoria, New South Wales, Queensland, and South Australia.
How to Contact OVO Energy?
If you have questions or need support, you can contact OVO Energy through their online account management portal ‘My OVO’ located on their website.
OVO Energy also has a FAQ section that answers general questions. However, customers that require assistance with their bill or have a more specific enquiry may get a resolution via sending an email or by talking to a customer support specialist through their online chat feature. For more information, please visit their website.
Billing and Payment
OVO Energy customers who are looking to pay their bill, view their payment details and history, update their direct debit or credit card payment method, and monitor their electricity usage can do so by logging into their ‘MyOVO’ account, available on OVO’s website.
Customers can also get support when they need it. If you have any questions concerning your bill, OVO’s Melbourne-based customer service team can answer your questions either online or via their customer service hotline.
Financial assistance may be available for customers who are having trouble paying their energy bill. OVO suggests either consulting with one of the team members or heading to their financial assistance page to learn more.
Concessions and Rebates
OVO Energy customers may be eligible for a concession or rebate. Eligibility is determined by specific criteria and/or if the customer holds a valid concession card. It is important to note that certain concessions and rebates are only offered in specific states, so be sure to check with OVO Energy customer service for more details.
Is OVO Energy Right For Me?
Already established in the UK, OVO Energy is looking to capitalise on their popularity and continue making a name for themselves in the Australian energy retail market. By pledging to support the efforts of renewable electricity generation, OVO Energy is likely to garner interest from households looking to reduce their carbon footprint.
OVO Energy’s single market plan favors simplicity over quantity when it comes to choosing your energy. And, with bill smoothing and OVO’s Interest Reward program, customers are presented with financial flexibility that they may benefit from.
Don’t settle for just any energy provider when it comes to your electricity and gas plan. With so many different energy companies available for you to choose from, why not simplify the process? At Electricity Monster, we’re committed to finding you a fair deal on energy prices with our partners. With fast, and most importantly free consultations, what are you waiting for? Give us a call today!
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This publication reviews OVO Energy’s plans in VIC, NSW, QLD, SA, ACT, and WA published on their website as of 02/11/2023.
Important Points to note are:
- The plans displayed have been taken from the energy fact sheets published on the retailer's website. We do not guarantee that this information is correct or that it applies to every household in Australia.
- Comparisons have been made on the peak rates in single rate plans from retailers, plus their daily electricity supply charges.
- The Citipower network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in Victoria.
- The Ausgrid network has been used to compare electricity plans, and the Jemena gas network has been used to compare gas plans in NSW.
- The SA Power Networks network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in Victoria.
- The Energex network has been used to compare electricity plans, and the Australian Gas network has been used to compare gas plans in QLD.
- The Evoenergy network has been used to compare electricity plans, and the Jemena gas network has been used to compare gas plans in the ACT.
- The ACTO network has been used to compare gas plans in WA.
- The reference price/VDO/GAS comparison will differ based on tariff type and location (distribution area). Your actual energy bill may be significantly different to these estimates if your usage differs from the average amounts used in this calculation.
- The information in this blog cannot substitute for legal advice. No financial decisions should be made based on information from this blog.
- All dollar figures include GST.
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