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Establishment in 2009, OVO is now one of the biggest electricity suppliers in the UK. It recently started operating here in Australia, offering an energy plan to New South Wales residents that promises at least 10% renewable energy with a plan to expand to other states on the eastern seaboard within the next year.
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Is OVO right for me?
Currently, OVO only offers one type of electricity energy plan, the One Plan, available from either Ausgrid or Endeavour in New South Wales. This energy plan has the following features:
- Flat rates. A flat rate scheme means you'll be paying the same rate for electricity no matter what time of day you use it. This sort of rate ignores peak and off-peak periods in favour of a constant price*.
- GreenPower. GreenPower is a government initiative to provide renewable energy to Australians. By default, 10% of your power on the One Plan will be certified renewable energy, but you have the option of upgrading to 100% for an extra charge.
- Bill smoothing. Bill smoothing spreads out your energy bill by taking your estimated average energy use for the year and cutting it up into 12 equal monthly instalments. This means you'll pay the same amount each month, and whatever you pay over or under your actual usage costs will give you credit or debit respectively. Note that bill smoothing isn't optional on One Plan, but required.
- OVO interest rewards. This is a loyalty reward for customers. If you end up in credit on your monthly payments by using less energy than predicted, you'll earn a percentage bonus on your credit balance depending on how long you've been with OVO. This rate starts at 3% and increases to 5% over two years.
- Monthly direct debit. By default, your estimated payments will be deducted directly from your bank account on a monthly basis. Direct debit is mandatory for One Plan – OVO does not allow you to pay bills manually.
*Note: this flat rate may change throughout your contract.
Does OVO offer solar?
For people in the Energex network (South East Queensland), OVO is offering a solar-feed in tariff on it's plans at a rate of 8c/kWh, capped at 5KW system size.
How green is OVO?
OVO doesn't yet have a Green Rating on the Australian market since it hasn't been introduced here yet.
While OVO does offer 10% GreenPower by default on its energy plan, the 100% GreenPower option comes with an extra charge on your normal energy charges. While its green options exist, they aren't the default for most customers.
Can I manage my plan from my phone?
While it doesn't exist yet for Australian consumers, OVO has plans to transfer its current UK energy management app over to the Australian market. The current UK app is rated 4.6/5 on the app store, and allows users to get accurate meter readings on how much power they've used, check their current energy balance and get an estimate of how much power they've used since their last bill.
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