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User #55247622977 posts

pedrov
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posted 2024-Jul-19, 4:55 pm
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O.P.

(starting a new thread as all other thread for this retailer appear to be state, plan, or question specific)

To kick things off....

App/Portal
I noticed today they have updated their user app/portal to allow managing not only the date of bill smoothing, but also the amount. It suggests a calculated minimum (showing how the calculation was derived), but allows anything above that minimum.
In my case, changing to the minimum makes sense, as I still have some credit on my account.









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posted 2024-Jul-19, 7:11 pm



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Thanks for the info.
I have just joined and was wondering how to adjust the monthly payment.









User #142763561 posts

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I wouldn't set up Direct Debit with anyone. OVO were OVER guesstimating my usage for 12 months, meaning that I was being overcharged $150.00 a quarter. Despite repeated emails from me with copies of previous bills and usage, they weren't interested. Its as if they made a conscious decision to double my previous usage. People are getting $1000.00 paid into their accounts in July, shouldn't be any need to rush to set up DD. I paid the only bill I got with BillPay.









User #4128323868 posts

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pedrov writes...

I noticed today they have updated their user app/portal to allow managing not only the date of bill smoothing, but also the amount. It suggests a calculated minimum (showing how the calculation was derived), but allows anything above that minimum.

With just visiting MyOVO I see a very small increase in my NEW 'MINIMUM' monthly payment.
Likely WRONG as a few years back I changed from gas winter heating to electric heat pump winter heating.
{IIRC Smurf may have commented that VIC homes use more energy in the form of gas than electricity – largely gas for winter heating, although gas heating for hot water would be significant, with a very small amount for cooking …not likely to exceed 5MJ a day, or around 1kWh equivalent.}

RCAC heating & cooling in VIC is likely to vary significantly by seasons!
Unfortunately OVO simply take my short term winter experience with them (<2M) and project this forward for a full 12 months – they don't compare this with my ACTUAL past experience :-(

With OVO originating in the UK one might have expected more nous – but apparently they have been fined there for incorrect billing.
Aren't OVO in Australia now totally owned by AGL – who apparently bought a 100% interest on the basis of OVO billing expertise?

I'm happy for any corrections, as I'm just finding my way with OVO.









User #781699496 posts

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I enjoyed great rates at Ovo from August 2023 when I joined, they were the cheapest for me by quite a margin.

Then Jul 2024 they sent me an email informing me of a massive rate increase AND that they had also increased my monthly direct debit from 40$ to 93$.

Old rates / New rates
Daily Supply Charge ($/day) $0.797500 $0.935000
Anytime Usage ($/kWh) $0.298100 $0.356400
Solar ($/kWh) $0.070000 $0.030000

"Why are we changing our prices?

Over the past 12 months, our wholesale costs have been much higher than expected and network charges, to get electricity to your property, have increased substantially."

Seems like they miscalculated their wholesale prices last year (I believe they purchase energy on the futures market in advance or something like that).
Anyway, I took advantage of their great price for 1 year and managed to switch to Red Energy at almost similar rates to my old OVO rates before the effective date of the rate increase.

Though their online portal was great









User #61748083 posts

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this post was edited

I also have just received an email informing me of increases.

"We're writing to tell you that your current rates will be changing on 1st August 2024"

Old rate New rate
Daily Supply Charge ($/day) $0.9680 $1.0450
Peak Charge ($/kWh) $0.3630 $0.4202
Super Off Peak Charge ($/kWh) $0.0000 $0.0000
Controlled Load 2 Usage ($/kWh) $0.246675 $0.2508
EV Charging ($/kWh) $0.0800 $0.0800
Solar ($/kWh) $0.0800 $0.0300

I have solar but in winter I have lots of shade. I will be comparing other energy providers such as AGL which charges $0.0800 between midnight and 6AM. I have only been with them for 4 months









User #38792 • 5018 posts

dexter

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Do you get free controlled load during the 11am to 2pm free period?









User #55247622977 posts

pedrov
yes, I changed it....

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O.P.

dexter writes...

Do you get free controlled load during the 11am to 2pm free period?

*Excludes controlled load usage









User #24721344382 posts

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this post was edited

Ditched OVO after the price hike and lowering of the FIT.
The 7c FIT was why I went with them ... now the offer was a paltry 3.3c









User #73879812517 posts

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tedfthis writes...

People are getting $1000.00 paid into their accounts in July, shouldn't be any need to rush to set up DD. I paid the only bill I got with BillPay.

And a few days after I got the 1k I got an email drastically increasing my rates and dropping my solar tariff. So I dropped OVO.









User #73879812517 posts

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Defense99 writes...

Seems like they miscalculated their wholesale prices last year (I believe they purchase energy on the

I personally beleive it coincided with the 1k government rebate all QLDers got. Blatant money grab for current customers so I dropped them and will never go back









User #142763561 posts

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Rob182 writes...

And a few days after I got the 1k I got an email drastically increasing my rates and dropping my solar tariff. So I dropped OVO.

I got my email with the massive hikes, a couple of weeks before the $1000.00 appeared. I did some research and switched to Alinta. I'll be paying lower rates on everything, than I was with OVO for the past 12 months and OVO was the best option for me 12 months ago,









User #142763561 posts

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Rob182 writes...

I personally beleive it coincided with the 1k government rebate all QLDers got. Blatant money grab for current customers so I dropped them

I agree about the money grab. The worst part about OVO for me, was their stupidly inaccurate guesstimates. Even after sending them previous bills showing that I was using 7-8kWh per day, they still insisted on guesstimating 15kWh per day.









User #73879812517 posts

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tedfthis writes...

I got my email with the massive hikes, a couple of weeks before the $1000.00 appeared. I did some research and switched to Alinta. I'll be paying lower rates on everything, than I was with OVO for the past 12 months and OVO was the best option for me 12 months ago

I did the same thing. I was originally woth alinta but they hiked the prices so switched to AGL. Then AGL increased the prices after a year or so. Then switched to OVO and again increased so back to Alinta.

It is irritating that you only get the best prices when joining but no incentive to stay. They punish you if you stay too long so best to keep swapping.









User #55247622977 posts

pedrov
yes, I changed it....

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O.P.

tedfthis writes...

stupidly inaccurate guesstimates. Even after sending them previous bills showing that I was using 7-8kWh per day, they still insisted on guesstimating 15kWh per day.

As a FYI for any future energy retailer you end up with, you really want to look out for a few things.

Quarterly vs Monthly billing. Generally, an old manual read meter is best suited to quarterly billing (as that is how often it is read by the folks walking around). Even then, it doesn't eliminate ever getting an estimate (as the meter readers occasionally cannot access the meter so an estimate is used).
Monthly billing works well for Smart Meters, as that data is transmitted daily anyway.
Monthly also works fine for where the user of an old manual read meter can submit a photo of the meter reading each month.

The other thing to watch out for is some providers have "Bill Smoothing". Essentially this an annual guess of your usage, divided by 12 months. And your account sits with a balance (which ideally is $0 at the end of the year – but often a credit/debit balance is carried forward)

And lastly, in your case, if sounds like you don't like direct debit either, so watch out for that. Some retailers have limited payment options, or extra fees for paying via different methods.









User #81575110940 posts

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pedrov writes...

but often a credit/debit balance is carried forward

I switched away from OVO and now have a small credit balance sitting in my old OVO account.

I’m curious to see how long it takes to get credited back to my bank account.









User #346171 • 15740 posts

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In VIC on monthly with OVO monthly billing 'The One' plan for around 10 months.

Initially, they significantly overestimated my bill smoothing payments despite me giving them detailed annual usage data. Even after several refunds and lowering of the payment amount (all at my request and eating up my time) I was always in credit by $100s & had built up a credit in excess of $500 during the time I was with them.

Compared to the billing systems of all other retailers I have been with, the asynchronous timing of their billing & reward/referral payments creates complexity in the way their accounts are set out. While the usage charges as set out in their accounts were precisely (ie rounded to nearest cent) identical to mine, despite using their actual numbers as set out in their accounts I could never reconcile their billing totals and they were always out (in their favour) by one or two cents. Those discrepancies may have been due to rounding differences in the way they worked out their totals – but it was never explained in any of their documents.

When I left OVO, my full credit was automatically paid back into my account.

Although the OVO plan I was on was cheap, the overall experience was certainly negative & I doubt that I would ever go back to them.









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