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.
Ovo will issue the monthly discount, of either £66 or £67, into the customer's bank account within five days of any direct debit payment clearing.
If customers pay for their bills on receipt of bill, they will receive their monthly discount as a credit to their energy account in the first week of each month.
READ MORE IN MONEY
Major change to Tesco self-checkout leaves customers in stitches
What do King Charles III coins look like and when do they enter circulation?
For customers who top up with a smart prepayment meter, Ovo will add the monthly discount straight into that customer's electricity smart meter as a credit in the first week of each month.
And if customers top up with a traditional prepayment meter, the monthly discount will be applied as a credit in the first week of each month.
Over 29 million households across the country are eligible for the discount worth £400.
It will be split into six monthly instalments between October and March 2023.
Most read in Money
Energy bills set for £2,500 freeze from tomorrow, plus money saving tips
What do King Charles III coins look like and when do they enter circulation?
Millions on Universal Credit could miss out on £360 pay rise
Martin Lewis warns that there's no £2,500 cap on energy bills
In October and November, customers will receive a £66 discount and in December through to March this will go up to £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, but the money won't start to arrive until October.
British Gas, Bulb, E.ON, E.ON Next, EDF Energy, Scottish Power, Shell Energy, Octopus Energy, Utilita and Utility Warehouse have also now confirmed how they'll pay their customers.
We list how you'll receive the discount depending on your payment method below.
I have a standard electricity meter, how will I get the payment?
Direct debit customers will be expected to pay their bill as normal each month.
These customers will then receive the energy bill discount directly into their bank account after a successful direct debit is processed within five working days.
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.
If your bill is £35 then you'll get £35 refunded. The remainder of the monthly rebate will be added to your bill, so you still get the discount but it will be spaced out over more months.
If you pay when you get your bill you’ll receive your monthly discount as a credit to your energy account in the first week of each month.
I'm on a prepayment meter, how will I get the discount?
If you're on a smart prepayment meter, the discount will be automatically credited to your electricity meter in the first week of each month of delivery.
If you're on a traditional prepayment meter, 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:
- British Gas Energy Trust
- Bulb energy fund
- EDF's energy customer support fund
- E.on's energy fund
- Npower's energy fund
- Octopus Energy Octo Assist fund
- Ovo's debt and energy assistance
- Scottish Power's hardship fund
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.
Read More on The Sun
I did a Primark haul & got an absolute must-buy – it’s perfect for chilly days
Love Island star shows off incredible body transformation after villa
Most of them can offer you free guidance and help in person, over the telephone or online.
- Money Advice Service – 0800 138 7777
- Citizens Advice – 0808 800 9060
- StepChange – 0800 138 1111
- National Debtline – 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.
Source: Read Full Article