We keep an eye on your Direct Debit amount to make sure it covers the energy you’re using. We work this out over 12 months – you’ll build up credit over the summer to cover the more expensive winter months. So you’re not missing out on the money in your account, you’ll also get our 3% OVO Interest Reward (rising to 5% in year 3)*.
If your Direct Debit goes up, it’s because you haven’t been paying enough to cover the cost of the energy you’re using, and we’re making sure you don’t build up a debit balance. You can help to make sure your Direct Debit’s correct by giving us regular meter readings – once a month is ideal.
Staying in the black is a good idea for a number of reasons.
As well as covering your winter spend, you’ll also have the flexibility to change suppliers. 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. So we encourage you to stay on track.
*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.