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There’s some credit on my account - can I get a refund?

It depends on whether you pay by Direct Debit or PAYG, how much credit you've got in your account, and if you plan to stay with OVO.

This answer covers our refunds policy for customers who pay monthly – that’s our Greener Energy plan, Simpler Energy plan and Better Energy plan customers. If you’re on Smart PAYG or Smart PAYG+, take a look at the refunds for PAYG here.

If you’re staying with OVO and have extra credit in your account:

When you sign up to OVO and you agree to pay by Direct Debit, you will be asked to pay one month in advance (please see our Terms and Conditions section 12).

If you’re on our Simpler, Better or Greener Energy plan and build up more credit than our minimum balance and £25 minimum refund threshold, you can ask for a refund. Read on for more details.

What’s a ‘minimum balance’?  

Once you’ve signed up, we ask that you keep a ‘minimum balance’ of credit  in your account. The amount depends on the time of year:

  • In the summer months – March to October – this is at least 1 month’s Direct Debit payment.
  • In winter months –  November to February  –  this is at least 2 months’ Direct Debit payments.

What’s a ‘minimum refund threshold’?

The ‘minimum refund threshold’ is the minimum amount of credit we’ll refund at any one time.

Why is it more in the winter?

We ask for a higher minimum balance in winter to help you pay for the extra fuel you’re likely to use during the colder months and to make sure your account doesn’t fall into debt. There’s more information about this in the ‘Why is my Direct Debit more in the winter?’ question.  

So when can I get a refund again?

If you have credit in excess of the ‘minimum balance’ in your account, plus £25 (the ‘minimum refund threshold’), we’ll happily give you a refund.  

Some examples:

In the summer

  • Your monthly Direct Debit payment is £70.
  • During a summer month your account balance is £100 in credit.
  • We can refund you £30.

However, if you had only £80 credit we wouldn’t be able to give you a refund. This is because the amount in excess of your monthly Direct Debit (£10) is below the minimum refund threshold (£25).

In the winter

  • Your monthly Direct Debit payment is £70.
  • During a winter month, your account balance is £190 in credit.
  • We can refund you £50.

If you had only £140 credit we wouldn’t be able to give you a refund because it’s less than 2 months’ Direct Debit plus the minimum refund threshold (£25).

Things to consider before requesting a refund:

  • Saving for winter – building up extra credit in summer can mean no big bills when you use more energy in wintertime.
  • 3% OVO Interest Reward – we pay interest on any credit balance up to the current maximum credit balance for the Interest Reward shown in our Energy Charges list.
  • If your credit balance falls below your monthly Direct Debit payment we may ask you to increase your monthly payment.

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. 

Getting a refund in 4 easy steps

  • Take a look in My OVO to see when your next statement is due – find help to log in here.  
  • If you don’t have a smart meter, give a new meter reading a few days before your statement is due – we’ll need a reading for gas and electricity if you’re on a dual fuel contract.
  • Wait for your statement and check your balance to see if your account is in credit – thanks to those readings, it should be really accurate.
  • Request your refund in My OVO.

As long as you’ve requested a refund within 28 days of a statement, we’ll refund any credit in excess of the minimum balance (see above) in your account, plus £25 (the ‘minimum refund threshold’). We’ll pay your refund into your bank account within 7 working days.

Need more help or information about refunds? 

How to find your statement date

You can find the date you'll get your next statement really easily. Go into 'My Statements' in My OVO –  and here you can find your monthly statement dates, next to previous statements.

Why apply for a refund within 28 days of a statement

We need to get an up to date picture of the energy you’ve been using before we can confirm your refund. Otherwise, we could end up refunding money that you’ll need to pay for you energy in the coming months. 

Why give meter readings before requesting a refund

We ask for current meter readings (if you don’t have a smart meter) for the same reason. It’s best to have an accurate picture of your energy account, so we refund the right amount. 

Please note, we may also ask you to send photos of your meter – showing the readings – if you apply for refunds that total more than £600 over 3 months.

If you’re switching to a different energy company:

You don’t need to do anything to claim a refund. Once your new energy supplier has sent us your final meter reading and we’ve sent you our final statement, if your OVO account is in credit, we’ll send a refund straight to the bank account your Direct Debit used to come out of. You should receive it within 7 working days.

If you’re moving to a new home:

Visit My OVO and let us know your final meter readings, details of the person moving into your home, and your new address. If your account is in credit, we’ll get a refund to you within 7 working days.

 

If you’re a PAYG customer

There are odd occasions where a top up might not reach your meter so you’ll need to request a refund. If you encounter this, just take a photo or scan your top up receipt, With the receipt details clearly shown. Send it in an email to payg@ovoenergy.com along with a short message to let us know exactly what happened and when.

We’ll check your details and get in touch with the next steps and look to arrange a credit on your meter.

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