We now show you a continually updating live balance in MyOVO.
This means that any payments, credits or charges will be represented in the balance displayed to you in MyOVO.
Your statements / bills are just a snapshot in time, whilst your balance will always reflect payments and charges as they happen.
You'll now see exactly what you’re using each day, if you have a smart meter, and what your live account balance is without having to wait until you receive an invoice.
I want to see a full breakdown of my charges
You can now see the dollar and cents amounts in your Usage graphs on MyOVO at my.ovoenergy.com.au/usage, we also provide you with the full transaction history at my.ovoenergy.com.au/bills, so you can more easily understand your live balance.
How we calculate your live balance
Your live balance is made up of the following:
- Energy usage charges - the cost of the energy you’ve used, including GST.
- Supply charges - a daily fixed charge for supplying your energy. This includes the maintenance of meters and the infrastructure required to get electricity to your property.
- Any extra charges - these might include things like meter upgrades, connection/disconnection fees.
- Any rewards you have - such as OVO Interest Reward or additional credits such as a welcome credit or refer a friend credit.
- Any credits that your due - such as Solar export feed in tariff or any government concessions.
- Any payments you have made - these could be scheduled direct debit payments or one-off top up payments, as well as refunds we have made to you. Remember, sometimes payments can take up to 5 days to clear at the bank - but once we have the data, it'll be reflected in your balance.
Your live balance is calculated as:
(Energy usage charges + Supply charges + Any extra charges) - (Any rewards you have + Payments you have made)
I'm on The One Plan / The Solar Plan / The EV Plan paying by direct debit - what does this mean for me?
Nothing changes. You'll now see a live balance when you log into MyOVO, but you'll continue to pay for your energy with your agreed direct debit amount. With The One Plan / The Solar Plan / The EV Plan, we expect your account to go into credit and debit at different times of the year, but as long as we've set your direct debit amount up correctly, you should end each 12 month period at a zero balance.
I'm on The Basic Plan / The Basic Solar Plan / The Basic EV Plan, paying in arrears (on receipt of bill) - what does this mean for me?
Nothing changes. You'll now see a live balance when you log into MyOVO, but you only need to pay what's due on the bills that we send you monthly, by the due date.
To check out your live balance go to my.ovoenergy.com.au now.