multi source·4h ago·2 sources analyzed
E.ON plans acquisition of Ovo to form largest UK energy supplier
E.ON has reached an agreement to acquire Ovo, which could lead to the creation of the largest energy supplier in the UK. Customers are reassured that existing tariffs will remain unchanged. (sources: bbc, theguardian)
ModernAction Briefing
The acquisition would combine E.ON and Ovo, serving approximately 9.6 million households, pending regulatory approval. Customers of Ovo have been advised not to panic during the transition.
- E.ON has agreed to buy Ovo in a planned deal.
- The combined company would serve about 9.6 million households.
- All existing tariffs for Ovo customers will be honored.
Why it matters
The deal could reshape the energy market in the UK by creating the largest supplier in the country.
Action context
No specific legislation identified for action yet.