Once we have your final meter readings, we’ll send you a final statement to tell you if you have a negative or positive balance. If you have a positive balance in your account, we’ll automatically refund this to you. You don’t need to do anything.
The money will go into the bank account your Direct Debit comes from. You should get it within 14 working days of your final statement.
If you’re an OVO member and have a positive balance in your account
You can ask for a refund if your positive balance is at least £25 higher than one month’s Direct Debit.
For example, let’s say your monthly Direct Debit is £50, but you have a positive balance of £80. Because you have £30 excess, we could give you a refund of £30.
But if your positive balance is £60, we can’t give you a refund. That’s because you’re only £10 over your Direct Debit amount.
How to apply for a refund
It’s best to apply for a refund when you’ve recently received a statement that’s based on accurate meter readings – not estimates.
Before you apply for a refund, follow these 4 steps:
If you don’t have a smart meter, give a new meter reading a day before your statement is due (both gas and electricity if you’re on a dual fuel tariff)
Once your statement has arrived, check your account balance – the meter readings should make sure that it’s really accurate
If you have more than £25 over your Direct Debit, good news! You can ask for a refund in your online account
Simply head to the Payments page, then scroll down to where it says Refunds. Here, you’ll find a button to click that says Apply for a refund.
As long as you’ve met the criteria listed in the previous section, and you have an active Direct Debit, we’ll pay your refund into your bank account within 5 working days.
If you let us know in advance, we can also refund you by cheque, which will take 7-10 working days to process.
Why we recommend keeping your positive balance
The cost of your energy bills can go up and down over the course of a year. This can be due to energy market changes, and it can also be due to the fact that we all tend to use more power in the winter than in the warmer months.
To keep things simple, we recommend paying a Direct Debit that’s the same amount every month. It goes into your account, which is like a pot of money. We then take your energy bill payments out of that pot. Sometimes this leaves you with a positive balance, and sometimes with a negative balance.
But over the course of 12 months, it usually evens out. We work out your Direct Debit amounts with the aim of getting you to a balance of zero by the end of your contract with us. That way, you won’t have to make any extra payments.
If you have some extra money in the pot, it’s understandable that you might want to spend it. But that could be a problem further down the road, if it leaves you with a negative balance at the end of your contract.
How do I know if I’ve paid for more energy than I’ve used?
Your latest statement will tell you how much energy you’ve used this month, and how much we charged you for it.
If there’s a positive balance in your account, it’ll roll over to next month, and count towards your next bill. At the end of your contract with OVO, you’ll get a refund if there’s any money left in your account.
1 Based on analysis carried out by the Carbon Trust for OVO Group (2020), 28% of an average individual’s carbon footprint in the UK comes from energy. In this analysis, the carbon footprint includes the following lifestyle categories: energy, transport, shopping, food and drink and holidays. This carbon footprint data has been calculated using BEIS 2020 emission factors. This excludes emissions from things that the average person cannot directly control such as supporting the NHS, defence, government bodies, etc. Please note these figures are not reflective of potential changes to your habits during the coronavirus pandemic.
How to pay my OVO Energy bill
Here’s everything you need on how to pay your energy bills at OVO Energy. From setting up and managing your Direct Debit, to choosing an alternative payment method – it’s all in this handy guide.