Millions of Ovo Energy customers to get £400 rebate direct into bank account from this weekend
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MILLIONS of Ovo Energy customers are set to start receiving a £400 energy bill rebate from tomorrow, October 1.
But how customers receive the discount will vary depending on how they pay for their energy.
Either way, they won't have to apply for the money and don't need to pay it back.
Customers who pay for their energy by direct debit will receive the discount direct into their bank account.
The rebate is worth £400, but is paid in instalments over six months.
Customers paying on receipt of bills, will get the monthly discount as a credit on their energy account.
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For customers who top up with a smart prepayment meter, Ovo will add the monthly discount as a credit on their electricity.
Meanwhile customers topping up with a traditional prepayment meter will get vouchers sent to them by post.
Over 29 million households across the country are eligible for the discount worth £400.
There will be six monthly instalments between October and March 2023.
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In October and November, the discount is wort £66, and from December through to March the amount will be £67.
Five million Ovo Energy customers are set to receive the discount.
It comes after the firm announced a £50million support package for its most vulnerable customers on September 1.
The £400 energy bill rebate was originally announced back in May by the former Chancellor Rishi Sunak and payments start from October 1.
Other suppliers have also revealed how they'll pay their customers, including British Gas, EDF Energy, and Octopus Energy.
Here we detail how and when exactly you'll get the payment as an Ovo customer depending on how you pay.
I pay by direct debit, how will I get the payment?
Direct debit customers will pay their bill as normal each month.
Once their direct debit has been taken, Ovo will make a payment into the bill payer's bank account worth £67 or £66 depending on the month.
For example, if your October bill comes to £100, your direct debit will go through as normal and once it's processed you'll receive a refund worth £67 into your bank account within five working days.
I pay my bill when it comes in, how will I get the rebate?
If you pay your energy bill when it arrives, rather than direct debit, you'll get the cash added to your energy account.
This bill credit will be applied in the first week of each month from October.
I'm on a smart prepayment meter, how will I get the discount?
Anyone who has a smart meter tops up on a pay as you go basis rather tan getting billed.
These customers will get the discount automatically credited to their electricity meter in the first week of each month from October.
I'm on a traditional prepayment meter, how will I get the money?
If you're on a traditional prepayment meter, where you have to top up using a card you'll get vouchers.
You'll be given a redeemable energy bill discount voucher or special action message (SAMs) in the first week of each month, issued via SMS text, email or post.
You'll receive vouchers by email or post within 11 working days of the first day of each month.
Customers will then need to redeem these at their usual top-up point and do so within 90 days of their issue date.
What other help is available?
There are plenty of energy grants and schemes open to help you out if you're struggling.
British Gas has recently confirmed that it'll pay its most vulnerable customers grants worth £750 to help with sky-high bills.
Ask your supplier what's on offer and how to apply, or check here:
There's also a one-off fuel voucher from your energy supplier if you're on a prepayment metre.
If you're in debt there are plenty of services you can take advantage of and they offer free and friendly advice on how to manage debt.
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Most of them can offer you free guidance and help in person, over the telephone or online.
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- - 0800 138 7777
- - 0808 800 9060
- - 0800 138 1111
- - 0808 808 4000
They can also help you take the next steps if you need a debt management plan (DMP) to tackle your debt or an Individual Voluntary Arrangement (IVA). These are agreements for managing multiple debts.