LONDON: OVO Energy customers have been told that all existing tariffs will be honored in full and their gas and electricity service will remain unaffected after E.ON announced its plan to buy the company.
Britain’s Largest Energy Supplier
A planned takeover is set to create Britain’s largest energy supplier, overtaking current market leader Octopus in customer numbers. Under the proposed deal, E.ON UK, which serves around 5.6 million customers, would acquire OVO Energy, which has about four million customers.
Both companies will continue operating separately while the deal undergoes regulatory review, with approval expected later this year. Although the value of the transaction has not been officially disclosed, earlier estimates suggest it could be worth up to £600 million. Regulators are expected to scrutinize the deal before granting any final approval.
Customer Protections Assured
Both firms have assured customers that there will be no immediate changes. Existing tariffs, including fixed-rate contracts, will be honored for the full duration, and customers will not need to take any action during the review period. Energy experts also emphasized that supply continuity and credit balances would remain protected, even if the deal goes ahead.
Price comparison site Uswitch noted that while some customers may feel uncertain, their accounts and balances would be automatically transferred under any approved deal.
Strategic Vision
E.ON executives described the UK as a key growth market, highlighting the importance of energy flexibility and electrification in the transition to cleaner systems. OVO’s founder also said the move represents a “right next step” for customers, employees, and efforts toward achieving net zero goals.
The proposed merger reflects ongoing consolidation in the UK energy sector, which has seen numerous suppliers struggle in recent years due to volatile wholesale prices. If approved, the combined entity would control nearly 30% of the domestic energy market, reshaping the competitive landscape for British households.
