Operating since 2009 in the UK, OVO Energy have officially hit Aussie shores and are ready to offer customers an alternative way to think about their electricity bills. Simplicity, affordability and innovation are all part of the OVO Energy game, not to mention their aim of encouraging sustainable electricity solutions.
Customers in New South Wales are able to sign up to an OVO Energy electricity plan.
Many Aussies just want an electricity plan that not only ticks all the boxes, but is also hassle-free. OVO Energy are all for keeping things simple, which is why they only offer one electricity market offer, called ‘The One Plan’ (yes, really), but there’s also a ‘Basic Standing Offer’ plan available.
Under The One Plan, customers will have their electricity supplied on a single rate tariff of 24.42c/kWh, plus a the daily supply charge of 79.64c per day under the Ausgrid distribution network. Those within the Endeavour Energy distribution network, the usage charge is 24.70c/kWh and a daily supply charge of 68.75 cents a day.
But when it comes to paying your electricity bill, OVO Energy does things a little differently. OVO Energy spread out the estimated annual cost of your electricity bill into 12 monthly installments, similar to bill smoothing. Your estimated annual electricity cost is based on either the size of your home or your previous electricity usage.
Getting to the good stuff, if you use less than your estimated electricity usage, OVO Energy will reward you with a credit on your bill. And so long as you stay in credit with your plan, you’ll earn 3.00% interest on the balance! In addition to that, OVO Energy will also include 10% GreenPower for your electricity for free - this can be increased to 100% for an extra $29 a month.
However, while you won’t be charged an exit fee if you decide to opt out of your plan, there is a $41.58 connection fee, $41.58 disconnection fee and $83.72 reconnection fee to consider.
OVO Energy are proudly 100% carbon neutral and promise to offset 100% of your carbon usage, allowing you to make your contribution to building a more sustainable future.
While you may have to opt in to a GreenPower source with other electricity retailers, OVO Energy automatically includes a 10% mix of GreenPower in your electricity plan at no extra cost.
OVO Energy is working to make quarterly billing a thing of the past with its monthly instalment service. So if you like to write up a monthly budget, adding in your electricity bill just got a whole lot easier.
If you work to keep your electricity usage low, OVO Energy will reward you with a credit. And if you keep it up, you’ll be able to earn 3.00% interest on the balance!
If you’re interested in making the switch to OVO Energy, you’ll be happy to know that switching is as easy as pie. According to OVO Energy, signing up takes less than three minutes! You’ll then need to wait for your direct debit to be set up - once that’s done, OVO Energy will get your opening meter reading and then you’re ready to start!
But since OVO Energy is just getting started in the Aussie market, there is no information as of yet about how customers can move homes with the retailer.
The Mozo communicty has rated OVO Energy products and services on different specifications ranging from pricing and bill clarity to customer satisfaction and green energy.
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Want to see how OVO Energy stacks up to other electricity retailers in the market before signing up? Then head on over to our energy comparison tool or click the ‘compare button now’.