OVO Energy lowers electricity prices in NSW, Victoria, QLD and SA

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Landing on Aussie shores in late 2019, OVO Energy is living up to its ‘carbon-kicking’ reputation abroad, while it also fights to lower electricity prices as its just slashed rates across the eastern seaboard.

Households in New South Wales, Victoria, south east Queensland and South Australia can benefit from cheaper energy rates, while also choosing a provider that’s ‘investing in a renewable future’.

With wholesale prices dropping recently, bill-payers in the eastern states have been fortunate enough to reap the rewards, said OVO Energy CEO, Mark Yemm.

“Over the past few months, wholesale costs in all states have continued a downward trend. At the same time, in Victoria, we’ve seen a decrease in network costs,” he explained. “We’re simply updating our prices across all states to better reflect the market and passing these savings on to our customers.”

OVO Energy has dropped the prices on its sole market offer, The One Plan, with annual savings of up to $159 recorded.

“With our bill smoothing payments, you’re less likely to have bill shock or any nasty surprises. You’re getting a simple and fair price, whilst receiving excellent service. Plus, we’re 100% carbon neutral and investing in more renewable energy for the grid, at no extra charge,” Mr Yemm said.

OVO claims to eliminate bill shock by predicting annual energy costs and splitting them into monthly payments. Any changes to usage costs throughout the year are spread across the rest of bills, which is designed to make payments more predictable. OVO Energy’s plans come with 10% GreenPower built-in, meaning this portion of a customer’s power usage is offset through accredited renewable energy generators.

Canstar Blue Editor-in-Chief, Simon Downes, said OVO Energy could be a solid alternative for those seeking a new way to lessen the burden of unexpected electricity bills, while doing their bit for the environment.

“Aussies who struggle to manage their household’s electricity usage may find OVO’s business model particularly helpful, as bills are supposedly split even across 12 months,” he said.

“There’s also the environmental brownie points of choosing a provider where renewables are high on its agenda. Most customers will be pleased to know that each plan is fully carbon neutral and includes 10 per cent GreenPower at no extra cost.”

Carbon neutral energy is where power retailers buy or ‘offset’ a customer’s electricity usage through purchasing eligible carbon credits that cover the emissions produced. In a nutshell, these offsets aim to prevent or reduce greenhouse gas emissions.

Mr Downes added: “Always look over the fine print before signing up, and remember that OVO Energy’s rates are variable, meaning they can change at any time. Luckily if this occurs, customers won’t incur any exit fees should they decide to leave in the future. Another point to raise is that OVO may not be the best fit for solar customers if they’re chasing a higher feed-in tariff.”

Another interesting feature is that OVO customers will earn three per cent in interest on their account if it’s in credit. The interest accrued aims to cover any seasonal spikes in power consumption.

According to the industry regulator, there were only a few thousand Aussies connected to OVO Energy as of December 2020 – a long shot off its 5 million customers in the UK.

OVO Energy Plans

Here is the OVO Energy plan on our database for NSW. This is a product from a referral partner†. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here is the OVO Energy plan on our database for Victoria. This is a product from a referral partner†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here is the OVO Energy plan on our database for SE QLD. This is a product from a referral partner†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here is the OVO Energy plan on our database for South Australia. This is a product from a referral partner†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

OVO Energy Price Changes

Here are OVO Energy’s price changes as recorded by our database. These figures reflect average households in specific areas. Existing customers should contact OVO Energy to ensure these new rates have been passed on.

State Annual Price Before Annual Price After Annual Price Difference
VIC (Citipower) $1,170 $1,011 $159
SA (SA Power Networks) $1,455 $1,409 $46
NSW (Ausgrid) $1,114 $1,079 $35
QLD (Energex) $1,235 $1,205 $30

Accurate as of March 2021.

How does OVO Energy compare?

See how OVO Energy compares to other retailers in your state. Be sure to use our comparison tool for a more specific comparison based on deals available in your area.

Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Ausgrid network in Sydney but prices may vary depending on your circumstances. This comparison assumes general energy usage of 3900kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the Energex network in Brisbane but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4600kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Here are some of the cheapest published deals from the retailers on our database that include a link to the retailer’s website for further details. These are products from referral partners†. These costs are based on the SA Power network in Adelaide but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.

Image credit: GaudiLab/Shutterstock.com

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