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Why do most of your customers pay in advance by Direct Debit?

At OVO, we ask that you pay one month in advance so we can buy energy in advance.

Paying in advance by Direct Debit helps us keep our costs down and means we can buy your gas and electricity in advance.  We then pass these savings back to you in our great value plans.

More broadly speaking, there are benefits to staying in credit. Being in debt to an energy company makes it harder to switch to a cheaper supplier, which means a less competitive energy market and higher bills.

We’re trying to make things better. Having a credit balance gives you the flexibility to change suppliers.

Also, remember, whenever you’re in credit, we pay you the 3% OVO Interest Reward (rising to 5% in year 3)* – it’s your money, so it should be your interest.

*3% OVO Interest Reward (rising to 5% in year 3) 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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