GreenPower is a government scheme which certifies electricity coming from accredited renewable energy generators like wind, solar, water and bioenergy.
100% Carbon Neutral
Ovo Energy assess the full life cycle of retailing electricity to their customers; this includes all emissions released in the four key stages of energy retail (generation, transmission, our business activities and then finally, supply).
They then purchase carbon offset certificates for their customers’ entire emissions, from internationally recognised schemes that are accredited by the Clean Energy Regulator and include reforestation, renewable energy or energy efficiency schemes.
OVO Interest Rewards
This is just OVO Energy’s way of thanking customers for keeping their account in credit.
Since their tariff is bill smoothed at certain points of the year, customers are likely to build up credit – Ovo Energy believe that if they’ve got your money, it’s only right to pay you interest on it.
As an example, if a customer is in credit when they generate their statement, OVO Energy work out their Interest Reward based on the credit balance in that statement. The customer won’t actually see the payment as a line item on their bill until their next statement.
The amount of interest paid is based on the amount of days between the two statements – OVO Energy automatically calculate the Interest Reward that is due to the customer and credit this to their account.
Customers start with a 3% interest reward in their first year. In year 2, OVO Energy increase this to 4% and then it’s 5% for year 3 and beyond. Essentially, the longer a customer stays with OVO Energy, the more they say thank you.
Note: OVO Energy only ever pay interest if the account is in credit and will never apply interest to debit balances. The maximum credit balance OVO Energy will pay Interest Reward on is $1,500 and customers must not make payments into their account just to receive the OVO Interest Reward. All information regarding OVO Energy has been provided to us directly from the retailer
At Just Compare we will compare different companies and plans available for your property. We’ll consider lowest rates, best overall discount, special offers and payment bonuses, or any other special plan features that you want to see from your electricity company.
We work hard to find great deals from leading energy retailers you can trust.