Here's the next installment of our FAQs! The one's on refunds...
I’m in credit and I’ve just had a bill - why can’t I get a refund?
Estimated readings! If the bill the customer’s received is showing estimated readings, the system won’t allow a refund. We will estimate a reading when one isn’t provided the day before the statement date (assuming they don’t have a working smart meter). This will be estimated from the last reading submitted, based on the average usage of the property.
If you have both gas and electricity with OVO, check that both have been billed in your recent statement. If only one supply has been billed, this will prevent a refund.
How can you refund me credit if I cancel my Direct Debit at the bank?
When we set up a Direct Debit agreement, it leaves a record on the system. By cancelling at the bank to stop the payment arrangement, the agreement is left intact ie. we still have your bank details on record, just no permission to extract further funds.
Why do I have to leave some money in my OVO account?
If you’re on a fixed price tariff, you pay in advance for your energy so you’ll need to leave one month’s Direct Debit in your account ready for your next bill. For example if you have £170 on your account and your Direct Debit is £70, provided you’ve been billed to actual readings, you’ll be able to get a refund of up to £100. If you’re on our variable tariff however, you don’t need to maintain a balance on your account and can have a refund of all credit leftover.
Why is my final refund taking so long?
Getting your final bill and closing your account is a different process to a normal refund. We need to wait for your new supplier to send your first readings to us. This ensures there’s no overlap in the energy you’ve paid for. This process can take up to 6 weeks, after which your final refund will follow in 3 to 5 working days. So overall, after switching away you’re looking at a maximum time frame of 7 weeks to receive your refund.
Is there a minimum and maximum refund amount?
The minimum we can refund is £25. There isn’t technically a maximum, but for refunds of £600 or over, we may need to double check the readings are correct before issuing. This usually involves sending a photo of each meter reading to email@example.com.