Ovo Energy

Ovo Energy is an environmentally-focused energy provider in Australia. Read more about them and discover how green they are here through Savvy’s energy review.  

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, updated on August 14th, 2023       

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Ovo Energy is a multinational energy supplier based in Bristol, in the UK. It was founded in 2009, with its Australian branch established in 2019, and its call centre now located in Melbourne. It supplies electricity in four states, and offers a unique electricity plan which includes bill smoothing, and interest paid on any credit on a pre-paid plan.  

As a certified carbon-neutral company, Ovo Energy is proud of its green credentials and offers 10% renewable energy with all electricity plans by default. Customers can increase this percentage to 100% carbon neutral through the Australian Government’s GreenPower scheme for a small additional cost. The company also offers a solar electricity plan especially for electric vehicle owners, and generous solar feed-in tariffs in some states. 

Ovo Energy logo

In which states or territories does Ovo Energy offer energy plans?

Currently Ovo Energy offers electricity and solar energy plans in: 

  • New South Wales
  • Victoria
  • Queensland
  • South Australia

What is the size of Ovo Energy in comparison to other energy retailers?

According to the Australian Energy Regulator’s latest report (Q2 2022/2023), OVO Energy now has over 10,080 retail electricity customers, and they command around 0.1% of the retail market share. 

What are the pros and cons of using Ovo Energy as your energy provider​?

  • Generous $120 refer-a-friend offer on some electricity plans
  • Have an energy plan specifically for electric vehicle owners 
  • Offer a unique bill-smoothing payment plan, which pays interest if your account is in credit
  • Accredited 100% carbon-neutral company
  • Offers 10% GreenPower offset at no additional charge 
  • Does not offer energy plans in NT, WA, TAS or ACT 
  • Only offers a single rate tariff on The One Plan, which is their standard energy plan available
  • No variable-rate tariff plans available
  • No mobile app to monitor energy use
  • No fixed-rate plans are available, so prices can fluctuate

How is Ovo Energy rated as a green energy provider?

According to Greenpeace’s Green Electricity Guide, Ovo Energy has a score of 4.74/10 overall. This is because the company is seen to be investing in renewable energy generation assets, but it still buys energy from the National Electricity Market, where most power currently comes from burning coal and gas. 

Their scores for these specific criteria are: 

  • Providing clean, renewable energy: 40%
  • Ending coal use by 2030: 0%
  • Halting fossil fuel expansion: 100%
  • Support for new renewable energy: 46%
  • Pollution & environmental harm: 50%
  • Transparency in marketing: 80%

*Information from Greenpeace’s Green Electricity Guide is current as of August 2023, but subject to change 

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Common questions asked about Ovo Energy

How does Ovo’s The One Plan work to award interest on bill payments?

OVO Energy's ‘The One Plan’ operates on a direct debit payment system and uses bill smoothing. Your total payment is calculated based on an estimate of your electricity usage over one year, and it's divided into 12 smaller monthly instalments. Customers who sign up for this energy plan agree to bill smoothing, where their accounts may be in debit or credit each month based on energy consumption, evening out the balance over the year. The plan offers flexible rates and includes 100% standard GreenPower and carbon-neutral energy at no extra cost. A notable benefit is the OVO Interest Reward program, where customers earn 3% interest on any credit balance.  

Does Ovo Energy have a published sustainability strategy?

Yes, they have an ambitious sustainability strategy called Plan Zero, aiming to reach net zero by 2025. This involves cutting their carbon emissions by 90%, and offsetting their remaining unavoidable omissions. They have implemented a live reporting structure to ensure this target is achieved.  

What does Ovo Energy offer for EV owners?

Ovo Energy offers a specific EV (electric vehicle) plan. This has an electricity tariff of just 8c/kWh between midnight and 6am, allowing electric vehicle owners to charge their vehicles up very cheaply during the night when demand on the electricity grid is very low.   

Does Ovo Energy offer any gas plans?

No, Ovo Energy only offers electricity and solar plans in Australia, although elsewhere in the world they do retail gas plans as well. 

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Disclaimer:

Savvy is partnered with Econnex Comparison (CIMET Sales Pty Ltd, ABN 72 620 395 726) to provide readers with a variety of energy plans to compare. We do not compare all retailers in the market, or all plans offered by all retailers. Savvy earns a commission from Econnex each time a customer buys an energy plan via our website. We don’t arrange for products to be purchased directly, as all purchases are conducted via Econnex.

Any advice presented above is general in nature and doesn’t consider your personal or business objectives, needs or finances. It’s always important to consider whether advice is suitable for you before purchasing an energy plan. For further information on the variety of energy plans compared by Econnex, or how their business works, you can visit their website.