Let’s say we suggest £100 a month, with a sliding scale of £75 - £150. So you could reduce it to £80, for example. Then, if you use more than £80 worth of energy one month, you’ll automatically pay the difference the next month.
There’s a cap on this – you’ll only ever pay up to 150% of the amount we originally showed on the sliding scale. So if you used £200 of energy in a single month, you’d owe us £120. But we wouldn’t charge you the full £200 (that’s £120 plus your regular £80) next month; we’d charge you £150, and carry the other £50 on for another month.
To make sure you always know exactly what your Direct Debit is going to be, we’ll send you a statement every month to show your balance, the energy you’ve used and the amount you’re going to pay. This statement will arrive at least 6 working days before you pay your next Direct Debit.
Flexible Direct Debits can be a great way to manage your money to suit your life.
You can decide to pay a bit more throughout the summer and save up credit to cover your extra energy use in the winter … or cover your Christmas Direct Debit so you’ve got more to spend on presents.
It’s easy. Just log into your My OVO account and:
That depends on whether you’re a new or an existing customer.
We check how much has been used at your home over the last 12 months and divide it by 12 to work out your recommended Standard Direct Debit amount.
So if the energy use at your address was £1,200 in the last year, that’s £100 a month – so that’s what your Standard Direct Debit would be. You could then choose a Flexible Direct Debit payment of anything between £75 and £150.
Just log into My OVO and choose a new amount. Your account will update straight away. If you change the amount less than 6 working days before you’re due to get a statement, the amount you pay won’t change until the next month.
You should only get a debit balance if you’re using a lot more energy than we expected. Normally, if you use more energy than your payment covers one month, you’ll pay the difference automatically through your Direct Debit the next month.
If you’re worried that your payments might be too low, just log into My OVO to change them – you could even build some credit and get our 3% OVO Interest Reward*.
*3% interest – 3% per annum earned on the amount left in your account after you've paid your bill, which is calculated based on number of days in credit and paid monthly.
3% OVO Interest Reward is available only to customers paying in advance by Direct Debit, and is payable on balances up to the maximum credit balance for the Interest Reward specified in our Energy Charges list (currently £1,000). Terms and conditions apply.
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