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$150 Welcome Credit for New Electricity Plan Sign-Ups (Paid in $50 Instalments over 3 Months) @ OVO Energy

1200

I've been with OVO over a year, rate them - good prices in my area at least. (OVO is a sub-brand of AGL Energy).

Referral solicitation removed — Mod


Welcome Credit

$150 sign up credit applied over 3 months

1. Offer Terms

These terms (Special Terms) set out the terms and conditions applicable to OVO Energy's $150 (inclusive of GST) online sign up credit offer, applied over 3 months (Welcome Credit).

Terms that are not defined in these Special Terms are defined in OVO Energy's Market Retail Contract Terms and Conditions for small customers - available here.

2. Eligibility Requirements

To be eligible for the Welcome Credit:

(a) you must sign up to one of our electricity market plans for your premises, via switch.ovoenergy.com.au or any other participating third party websites;

(b) your premises must be in Victoria, New South Wales, South Australia or Queensland where OVO operates;

(c) the contract must be your first electricity market contract for your premises;

(d) to receive the full $150 credit you must continue your contract for your premises for at least 3 months from when we start supplying electricity to you (minimum contract period).

3. When will we pay you the Welcome Credit?

Unless your contract ends early, we will credit you $150 (inclusive of GST) applied in three monthly instalments of $50 as an offset against the charges on each of your monthly bills issued during the minimum contract period.

If your contract ends before the end of the minimum contract period, we will not pay you, and you will forfeit, any remaining credit balance of the $150 Welcome Credit.

4. Offer exclusions

The Welcome Credit offer:

(a) is not valid or available for OVO Energy gas market offers or in conjunction with any other OVO Energy special offers, promotions, vouchers or competitions;

(b) can only be used as a credit to your OVO Energy account and cannot be refunded or redeemed for cash; and

(c) is not transferable to any other customer or to any other premises.

5. Variation or withdrawal of the Welcome Credit

We may change or withdraw the terms applying to Welcome Credit by notice to you in accordance with applicable energy laws. We reserve the right to withdraw this offer at and time.

Referral Links

Referral: random (877)

Referrer & Referee Each Receive $10 Bill Credit Per Month over 12 Months

Related Stores

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Comments

  • +1

    (c) the contract must be your first electricity market contract for your premises;

    What does that mean?
    Sweet deal.

    • +2

      I assume that means if you have dual supply / dual metres you only get the credit once.

    • +2

      I thought it meant you have to have newly moved in and started a contract?

    • This is really confusing. I was with OVO before and moved to another provider. Now I moved back to OVO with this offer.
      So I am getting the credit or not?

      • I contacted them. If you've got sign-up credit for the same property previously, you can't claim this credit.

  • Oh man, I just switched to ovo last week :|

    • Don't think there is anything stopping you from signing up again? Doesn't seem to restrict it for new customers.

  • Sub-brand of AGL … explains why they insist, and won't budge, on putting me onto a TOU demand tariff…

    AGL snuck that one in when i was with them a few years ago, massive bill shock after always being in credit (solar). Switched provider and back to the flat rate tariff.

    • Luckily my meters are not smart. So can’t force ToU.

      • What ToU? How does it work?

        Am looking to switch to Ovo. Solar and battery getting installed mid of May. EV coming after new FY starting.

        I see that they have a few EV plans - some with ToU and some with ToU and C something.

        • +2

          Time of Use, is different price at different time of the day. Peak, off peak and shoulder.

          However, Demand is a surcharge where they look at the largest spike in use (eg boil the Kettle and have the microwave at the same time and you've hit 4kw demand) that then times by a rate (eg 25c) and apply that for the entire month (x30 days). So that example above for a 5min becomes 25c x 4 x 30 = $30 on top of your usage.

          • @Monoclonal26: Wow thats ridoculous. Im not on smart meter yet but was thinking of switching over because i thought the rates were better then flat rates. I though ToU is fine but do a lot of electricity companies do demand for smart meters?

            Maybe not worth switching over then.

          • @Monoclonal26: Yikes. That's not how ToU (peak/off peak) tariffs work in Victoria. It costs less to use electricity during lower demand periods of the day. that's all. No surcharges.

          • +1

            @Monoclonal26: No that’s not how it works at all, at least not in Victoria. ToU simply means instead of a flat rate for your usage no matter what time of day they’ll have 3 different rates depending on the time of day usually peak, off peak & shoulder so for people who are able to do most of their high usage during off peak it can end up cheaper. There is no demand rate calculated based on your highest peak usage, the only time I’ve heard of those sort of charges are for businesses who need guaranteed peak supply beyond what is standard but never for retail customers.

            • @Clarky77: Unfortunately in QLD they have demand rate based on peak usage even for standard residential properties

              • @Leggy: That’s insane, so they can pick the highest peak during the entire month and based on that jack up your daily fee for the entire month even if your average peak usage is way less?
                Do you get a discount on your kWh rate considering you pay for all the extra bandwidth?
                I swear if electricity companies could get away with it they would charge us extra because their profits weren’t enough to make the entire executive team $billion bonuses.
                Daily executive bonus fee, x1.7 factor for using less electricity than anticipated at sign up.
                Crazy

                • @Clarky77: So if I were to sign up with OVO, are they charging me the average per month even if I don't use that much electricity? Do they adjust if I use less and discount it next month? No idea what this pre-debit means compared to my current Origin Electricity?

                  And whats this about people talking about having to put money in the account for them to deduct?

                  • @seraphim64: They charge fixed amount monthly, I've got more and more credit in summer months, so my credit increases by month. I simply do a live chat which is quick and easy than call and email. They have paused my monthly direct debit on a monthly bases. For me it's $84, not a big deal, but I don't like my credit exceed my bill too much.

                  • +1

                    @seraphim64:

                    So if I were to sign up with OVO, are they charging me the average per month even if I don't use that much electricity?

                    No.

                    They charge you the same amount monthly.
                    If you use $1200 of power in a year, just set your monthly amount to $100.
                    You get to choose this figure.

                    It's as simple as that - and if you do build up a credit, they pay you interest on it.

            • @Clarky77: https://www.agl.com.au/help-support/energy/pricing-and-produ….

              Here is the AGL website to explain Demand Tariff.

              TOU is one method of charging. TOU Demand is the next rort.

              • @Monoclonal26: OMFG
                & that’s on top of daily and usage charges? That’s one way to put themselves out of the retail business I guess, if they try to push that insanity it won’t be long before everyone who can starts installing batteries and going off grid.
                I’m literally blown away, I can’t for the life of me see why anyone would think that’s beneficial in any way other than as a punitive measure for an extremely high usage property that’s causing stability issues to the grid but even then there are better options and would be a pretty rare scenario. I’m blown away!

          • +1

            @Monoclonal26: No, that's the theory on how it works but that peak demand is calculated per 30 Min so you won't reach that 4kw rate unless you have ducted/electric cooktop or multiple aircon.

            • +1

              @lgacb08:

              you won't reach that 4kw rate unless you have ducted/electric cooktop or multiple aircon.

              Surely most houses have electric ovens, ducted heating, or multiple aircons ?

              • @Nom: The kw value is also doubled per the formula. So you'd only need 2kw to end up with the 4kw x 28c (ovo demand rate) x 30 days (April) surcharge for the month.
                2kw is very easily done …as i said cooking in microwave and boiling Kettle.

                The biggest rort is the push to electrify the house - so yeah, cook top + oven makes for a nice earner. (Unless we all eat after 9 p m)

                • @Monoclonal26: I already have Solar and Battery, so I don't really use any Peak power on my Time Of Use plan, seems like that's the solution for this bonkers Peak Demand thing too ?

                  Apartment dwellers and renters are totally screwed.

        • What ToU? How does it work?

          Am looking to switch to Ovo. Solar and battery getting installed mid of May. EV coming after new FY starting.

          Time of Use just means different power prices at different times of day, instead of one single price.

          Once you have your Solar and EV, then OVO will give you $0.00 power between 11am and 2pm, and $0.08 power between midnight and 6am. This is their Time of Use plan - make sure you have your car and battery charging in the cheap periods, and use power from your battery in the expensive periods.

      • Luckily my meters are not smart. So can’t force ToU.

        That means you can't take advantage of the $0.00 power between 11am and 2pm, or the $0.08 power between midnight and 6am.

        Time of Use isn't something to avoid, it's a way to save money 🤷🏼‍♂️

        • But how much is peak?

    • How did you manage this? Origin did this to me when we got smart meters installed, and Ausgrid told me I can't switch back. I'm in NSW

      • My new provider (PowerShop at the time) told me you are allowed to one per year. I've been in flat rate since, with PowerShop, Simply Enerrgy.

        Ausgrid here also.

      • Interesting I'm also with Ausgrid on a smart meter and almost every provider still quotes me flat rate. The only one that didn't was GloBird.

  • AGL is giving $200

    • Yeah, That's a pretty good deal for NSW, QLD, SA.
      VIC only has $150 for AGL.

    • Is their supply costs and kwh cost more expensive than ovo though?

      • +4

        Switch after you get the credit.

        • This is the way. You only need to stay for 3 months then switch. Supply charges with Ovo wouldn't $150 more expensive, you'd make $140 profit still at least.

          • @financialminimalism: Yeah good point, I might try that. Have you found switching to be painless? I heard you dont need to contact your old provider as the new one helps you cancel?

            Any do we need to wait until a certain time during billing to switch, or can we switch whenever and won't get double charged?

            • @seraphim64: No need to contact your old provider. Just switch and wait.

              You can switch at any time and your current provider will cut off from that date. You probably won't be able to choose when the new provider switches over anyway. I don't have an e-meter so they had to send someone out to read the current reading.

    • +8

      AGL is giving $750 - $850 total credits (paid at first bill) if you join with Elec, Gas & nbn for at least 1 month. nbn 100/20 plan is $59 for first 6 months btw. Plan is only available over the phone.

      • Which state is this for?

        • Definitely VIC and SA. Not sure about any others. The staff who aren’t trained in nbn bundle deals won’t be able to sign you up for it and will have no knowledge that the offer exists. You need someone with nbn knowledge as well as elec / gas. One of the people I spoke to said it’s called the ‘nbn back pocket offer’

          • @timothy2: Great thanks will give them a call cheers

          • +1

            @timothy2: Thanks so much for this just signed up, the offer seems unreal. Cheers

            • @llanfachreth: No worries, what state are you in btw? Also feel free to share the deal more widely, I don’t think it’s advertised anywhere.

            • @llanfachreth: @llanfachrethso how much credit do you get 750 or 850?

              • @tinx: They told me $750. Although so far I've received $150. The rest meant to come after a month

      • +3

        Wow, thanks for this. Just signed up as well in VIC so can confirm its still running. $825 in credits all up. Fantastic deal!

      • I was able to sign up over the web chat and they gave $850 credit to me

        • @anoykw How were you able to get 850? Which plan did u get? Thanks

      • Thanks very much! I just signed up with $750 in credit for all three utilities. Tried to push for $825/850 but no go.

      • Just rang and signed up to Electric and NBN in NSW, got $300 discount. They said it was 300 for electric and 300 for Gas now when bundled with NBN.

      • just signed up from VIC, can confirm the offer is valid, received 825 credit in total, fantastic offer, thanks

      • still available.

        175 for elec
        50 for gas
        and 600 from nbn to be credited 300 to elec and 300 to gas

        total 825 (vic)

  • Is quarterly billing available?

    • No, monthly only

    • I’m not sure about OVO specifically but if you’ve had quarterly billing for a long time and have always out at least mostly always paid on time you can usually convince them to bill you quarterly but it’ll depend how big your average bill usually is also.
      My mum hates monthly billing and would like to stay with one company forever ideally but in this day and age I help her switch to the best deal at least every year and I’ve usually been able to get them to bill her quarterly but she has very low bills so tbh I think they prefer it to billing her monthly for $30-$40.
      So basically if you are prepared to call them and deal with the hassle you can usually convince them but you won’t get the bill smoothing discount.

      • You can't do this with OVO.

  • I can never understand these comparison calculators. All picking Medium Usage and post-paid Basic Plan.

    Our house number 1 - $264/year (TOU + 1.5kW solar paying PFiT - very little export in winter and rate expires 1 November 2024) 30% less than VDO 4,000kWh
    Number 2 in our street - $1,188/year (TOU) 4,000kWh
    Number 3 in our street - $1,116/year (Standard rate) 29% less than VDO. 2,920kWh
    Number 4 in our street - $1,716/year (TOU plus solar) 5,475kWh.

    Why the big differences? We use natural gas for hot water and cooking so that could be the reason but we don't pay very much in gas bills at about $40/month.

    Why would a house with solar panels (number 4) be so high?

    Anyway we currently pay less than the quoted amount so it's not worth it.

    • I can't answer for sure but I'm in SEQ and don't have OVO, but do have solar, so things may be different. Whenever I've gone to sign up for them in the past, because I have solar they automatically offer me their solar plan, but the solar plan has a higher cost for their daily supply charge and their electricity charge compared to the non-solar option. For me, it's always been more expensive to go on their solar plan (despite them pushing it so much) - maybe the numbers work out similar in your situation?

  • +1

    Just signed up last week :(

  • +2

    Solar export rate is 3c and 5c per kW. What the hell!

  • I can’t be bothered checking but I thought OVO was a UK company.

    • +2

      You'll be amazed at how many companies do business in more than one country

    • It is, one of the biggest

    • +1

      It is. 51% owned by OVO UK, 49% owned by AGL Australia.

  • Hey OP, mind sharing with us what your rates are?

  • been with them for 9 months. currently looking at moving as there are some cheaper options based on my usage. more so when the monthly credit finishes up.

    my current rates . VIC.
    Peak unit rate: 40.0785c/kWh
    Off-peak unit rate: 19.2885c/kWh
    Solar feed-in tariff: 7c/kWh
    Supply charge:131.67c/day
    $10 credit each month.

    • WOW that’s insane.
      My offer was 22.9c p/kWh & 91.3c p/day and to me that’s crazy but worth it while the sign up bonus covers the daily charge.
      $1.30 p/day and over 40c for peak is insane, can I ask where you live? Is it normal for your area to charge at such crazy rates?

      • Errr.. here's me thinking his rates are pretty good… SA

        Peak unit rate: 45.21c/kWh
        Solar sponge: 27.61c/kWh
        Off-peak unit rate: 32.89c/kWh
        Solar feed-in tariff: 5c/kWh
        Supply charge:148.5c/day

        Am I going to have to hand in my badge for this - appreciate anyone else from SA sharing.

        • We dont have solar, but through Origin in SA:

          Supply charge: 95c/day
          First 1042kwh: 41c
          Remaining: 45c

          • @serenitynow: That’s absolutely crazy, I knew SA has high prices for a while after the blackouts and the initial push towards renewables but I honestly thought prices had come down to be super competitive with all the solar and wind capacity plus the big batteries supposedly cutting out a majority of expensive peaker plant periods?
            Honestly when you investigate wholesale pricing and then add up the profits all these energy companies make it hard to believe competition is achieving anything other than a sport where they pretend to compete while the real game is how to convince government to continually increase the supposed base rates.
            I can see how private wholesale producers could be induced to truly compete but retail is just a game, how does having 20 competing businesses all needing to produce a profit do anything to reduce prices for consumers that a single government owned company couldn’t?
            And don’t get me started on the networks being private? I moved into my current property about 15 years ago and my supply charge was only $18 per quarter (around 20c per day) so basically 500% increase in prices from a highly competitive lean/mean private industry.
            I get more and more frustrated every time I take more than a passing look at it.
            Thank god we have our best and brightest looking out for us I guess. What a joke!

        • Peak (¢/kWh) 63.58
          Shoulder (¢/kWh): 32.78
          Off Peak (¢/kWh): 30.36
          Super off peak (¢/kWh): 0
          EV charging window (¢/kWh) 8
          Supply charge (¢/day): 107.8

          Here with Ausgrid NSW

          • @bozaar: You need to switch and asap, I guarantee you that you’ll be able to find a retailer with flat rate pricing less than your current off peak rates and a daily charge under $1.
            Really ToU pricing should only be for people who have a battery and can switch their grid usage to only times in off peak and even that assumes you get a significant discount for those off-peak times.
            You should investigate if NSW has legislated base rates as I can’t believe 30c off peak & 63.5c peak rates are legal. You should be able to switch to a regulated minimum plan but then again it seems every state and region has different rules.

            • @Clarky77: Yes, thats with Ovo, im with AGL instead, however they are not equal. Ovo has peak rates during summer and winter months, AGL has peak 365 days of the year. Below is the rate for AGL

              Peak 54.021 c/kWh
              Shoulder 27.885 c/kWh
              Off peak 20.955 c/kWh
              Night Saver EV charge 8 c/kWh
              Supply charge 93.148 c/day.

              In saying that, my power bill with EV is about 800 a year

              • @bozaar: That’s still insane, if I was you I’d be looking into switching back to a fixed rate plan and find a retailer with rates under 22c p/kWh at the absolute most.
                ToU was supposed to be a way to incentivise people to move as much of their usage to off peak by providing low prices at those times at accordingly a slight premium for peak times but it was never supposed to charge people normal rates for off peak and insane pricing for the rest of the time?
                It’s turned into all stick with absolutely no carrot.
                Plans like that should be illegal in my book.
                Do you have standing offers where you are? I’d look into what your states government rates are atm because I’d be shocked if it was more that what you are getting and you should easily be able to find a retailer who is offering 20-30% below whatever the standard rates are.
                Competition, it’ll be great for consumers! They said lol

                • @Clarky77: Fixed rate is 35c. Always been on Tou when the place was built.

                  This is the best rates i can get through comparison sites.

                  • @bozaar: What state and zone are you in?
                    Honestly mate that’s insane I’m sure the OzB community can find you something better but maybe I’m just naive to pricing in some states but 54c peak is beyond crazy that’s premium supercharger rates in a holiday town in the peak period kinda pricing not retail pricing.

                • @Clarky77:

                  if I was you I’d be looking into switching back to a fixed rate plan and find a retailer with rates under 22c p/kWh at the absolute most.

                  That's not how this works

                  In my area, the cheapest off peak rate around, is in the region of 30c. Peak rate is around 50c, and fixed rate is somewhere between the two (around 36c last time I looked).

                  There is no mythical 22c rate unless you live whenever you live 😁

                  It works out just fine once you have solar and battery - you can time shift almost all usage to the 8c / 0c rates in this very plan.

                  • @Nom: I live in Victoria and and here 22c is far from mythical.
                    I guess I can see it being worthwhile if you have enough battery capacity and solar to move all your network usage to free/low rate times but even still those prices are insane.
                    Have you ever looked at wholesale pricing? There’s no justification for such pricing, maybe if your income is high enough that installing enough solar/battery capacity to totally eliminate the need for network it doesn’t seem that big of a deal but trust me there are plenty of people out there who can’t afford that luxury.
                    Regardless, Victoria and NSW are on the same grid and while I can understand fluctuations in the daily fees based on region specific costs to maintain wires and how efficiently they were built there’s no justification for p/kWh rates that extreme imo.
                    That being said I’m glad you find 54c p/kWh peak & 30c p/kWh offpeak rates to be perfectly acceptable. I think it’s unacceptable personally.

                    This is my quote from GloBird incl GST Jemena VIC
                    Daily Fee 0.89870
                    First 30kWh p/day 0.19542 (flat rate)
                    Over 30kWh p/d 0.24035 (but I’ve never used over 15kWh in a day)

                    I guess Victoria is living in the past at least when it comes to kWh rates?

                  • @Nom: Here’s the full distribution costs OzGrid charge

                    https://cdn.ausgrid.com.au/-/media/Documents/Regulation/Pric…

                    Combine that with wholesale pricing of electricity and tell me you are happy with current retail rates and that retailers/grid operators are anything more than profiteers when they go to government every year asking for rate increases. If a retailer can’t make profits well in excess of the market in this day and age maybe they should get themselves a government job?

        • That’s crazy expensive.

  • +1

    Absolutley hate their bill paying methods. Need to store money in their account to pay bills

    • +1

      This is one reason why I'm leaving OVO soon, just haven't finished shopping around yet. They do not have anything on their Australian website on how they refund on request or refund after terminating with them. I have quite some amount in credits with them and suspect this is going to be a hassle asking for money back.

      • Call or submit a ticket and request, simple

      • +2

        It’s an automatic process on their end. Once you terminate your contract with them, all credits will be refunded back to your payment method.

        This has happened to me as well. They kicked me off their plan due to having more than 5KW of solar panels.

        • +1

          Can confirm, churned to amber (big mistake lol) and $500 in credit automatically refunded with no action from me

    • I thought it was direct debit each month? Are you saying I would have to pay money manually into their account each month for them to deduct? That would definitely be a deal-breaker for me!
      If the automatically debit me before payment date, that would be ok?

      • +1

        Yep its direct debit say e.g. $70 each month but your bill mught be $100 for the quarter so youll have have surplus in the account and then you gotta manage estimate how much to direct debit money and i dont know, it just gets a bit confusing to me in in the bill. I rather they judt direct debit the exact amount they need.

        • Wait what? That's a deal breaker and should be in the post. What happens with the surplus money, how do you get it back?

          • @fredblogs: if you read the previous post, you get it back when u cancel the service, in the mean time, the money is earning 3% interest. I have over $150 in after 3 month as surplus.

          • @fredblogs: It’s just bill smoothing. If you account is in credit you don’t need to keep on contributing the fixed amount. I paused mine a year ago and haven’t been paying since.

      • It is just a normal monthly direct debit.

        They take the same amount of $$ every month, and if your account builds up a credit they pay you 3% interest on it.

        Generally a house with solar will build up a credit over the summer and then use that up over the winter.

        • Would I be able to take the leftover money sitting in it whenever easily?

          • @seraphim64: What left over money ? Adjust the direct debit to get somewhere close to your usage - you don't need to "take" any left over money because it sits there earning interest waiting for your next bill.

            If the credit amount keeps growing then your direct debit is too high. Lower it.

            You're way over thinking this - in reality it works just like any other power company, except you pay the same every month rather than a constantly changing amount each bill.

            • @Nom: There is credt that you would want to take back when you churn to another provider.
              Or you may simply want to access your own money that they are holding to use elsewhere.

              • @xmail: You can do both of these things 👍

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