androidCreated with Sketch. angle-left2Created with Sketch. angle-right2Created with Sketch. appleCreated with Sketch. blogCreated with Sketch. envelopeCreated with Sketch. facebookCreated with Sketch. github_24 Icon/contact/chat/ic_chat_24Created with Sketch. Icon/electricity/electricity/ic_electricity_24Created with Sketch. Icon/energy/ic_energy_24Created with Sketch. Icon/gas/gas/ic_gas_24Created with Sketch. Icon/home/ic_home_24Created with Sketch. Icon/lost-search/ic_lost-search_24Created with Sketch. Icon/device/phone/ic_phone_24Created with Sketch. ic_solid-arrow-left_24 ic_solid-arrow-right_24 ic_spinner_24 Icon/profile/ic_username_24Created with Sketch. cabCreated with Sketch. calculatorCreated with Sketch. credit-cardCreated with Sketch. envelopeCreated with Sketch. folder-openCreated with Sketch. homeCreated with Sketch. laptopCreated with Sketch. ovoCreated with Sketch. pagelinesCreated with Sketch. phoneCreated with Sketch. smartmeterCreated with Sketch. toggle-onCreated with Sketch. linkedinCreated with Sketch. plusCreated with Sketch. stackoverflow_24 star2Created with Sketch. star-halfCreated with Sketch. twitterCreated with Sketch. youtubeCreated with Sketch. forum legacy-icon-communities-exit

Why do you review my Direct Debit?

We review your Direct Debit to make sure you are not paying too much or too little for the energy you’re using.

When we first work out your Direct Debit amount, we calculate a monthly sum to make sure that, when your OVO contract ends, you’ve paid for all the energy you’ve used.

We’ll basically work out how much energy you’re likely to need in a year, and then divide the total cost into twelve monthly payments. That means you may fall behind a bit over the winter months, as you’re probably using more energy – but you should catch up in the summer, when your heating’s switched off and the nights are shorter. If we’ve got it right, you should end up with a zero balance.

We don’t want your payments to stray too far away from this target. That’s why, as the year passes, we’ll review your Direct Debit regularly, to make sure it’s on track to cover your energy bills – but without building up too much credit.

If we notice that you’re using more energy than we expected, we’ll let you know and suggest you increase your Direct Debit amount. And if we spot that your Direct Debit’s set too high and you’re accumulating a lot of credit, we’ll let you know and recommend reducing it to an amount that will still cover your energy use.

Remember, whenever you’re in credit, we pay you the 3% OVO Interest Reward (rising to 5% in year 3) on any credit balance up to the current maximum credit balance for the Interest Reward shown in our Energy Charges list  – it’s your money, so it should be your interest.

Like most websites OVO Energy uses cookies to ensure that we give you the best experience on our website. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on this site. Accept and Close