E.ON SE announced on 11 May 2026 an agreement to acquire OVO Energy Ltd, the UK's fourth-largest residential energy supplier. the transaction, if completed, would combine E.ON's existing 5.6 million UK household customers with OVO's 4 million, creating a combined entity serving approximately 9.6 million customers. Such a merger significantly reshapes the competitive landscape of the UK energy market, establishing the merged supplier as Britain's largest, ahead of current market leader Octopus Energy.
What is the E.ON OVO Energy deal?
On 11 May 2026, E.ON SE, a German multinational utility company headquartered in Essen, formally announced its agreed acquisition of OVO Energy Ltd. OVO Energy, founded in 2009 by Stephen Fitzpatrick, has grown into the UK's fourth-largest residential energy supplier, notably expanding through its 2020 acquisition of SSE's retail business. The transaction encompasses OVO Energy's entire retail customer base and all associated retail-business staff, who are slated to transfer to E.ON upon completion. While the purchase price for the acquisition has not been publicly disclosed, the strategic implications for the UK energy sector are clear. E.ON's UK residential energy supply business currently operates under the E.ON Next brand, following its rebrand from npower in 2022.
Will my OVO tariff change immediately?
For the 4 million UK household customers currently supplied by OVO Energy, and for E.ON's 5.6 million customers, both companies have issued clear statements. On 11 May 2026, E.ON and OVO confirmed that all existing OVO and E.ON Next customer tariffs will be honoured in full throughout the regulatory review period. This means customers can expect their current energy prices and terms to remain stable. Both companies have stated that current services will remain in place, with no immediate operational changes. Until the acquisition officially closes, E.ON Next and OVO Energy will continue to operate as legally and operationally independent companies, ensuring continuity for their respective customer bases.
When will the E.ON OVO transaction close?
The transaction is expected to conclude in the second half of 2026. This timeline is contingent upon receiving the necessary regulatory approvals. Specifically, the deal requires formal clearance from Britain's Competition and Markets Authority (CMA) before it can be finalised and fully integrated.
Does the CMA need to approve the E.ON OVO merger?
Yes, the acquisition is subject to stringent regulatory approval from Britain's Competition and Markets Authority. The CMA is the UK's independent regulator tasked with reviewing mergers and acquisitions to ensure they do not detrimentally affect competition within UK markets. Given the scale of this transaction, involving two major energy suppliers and a combined 9.6 million customers, it crosses the thresholds that necessitate a formal CMA review. This process examines potential impacts on consumer choice, market pricing and overall competition, with the aim of safeguarding competitive conditions for UK households.
What about OVO's Home Services business?
In a parallel and separate transaction also announced on 11 May 2026, OVO Energy's Home Services business is being sold. This distinct entity will be acquired by Hometree. This means the core energy retail business, including its customer base and retail staff, is transferring to E.ON, while the home services arm is moving to a different ownership structure.
What should OVO customers do next?
OVO Energy customers do not need to take any immediate action in response to this announcement. Both E.ON and OVO have explicitly stated that existing tariffs and services will be maintained during the regulatory review period. Until the transaction closes, OVO Energy will continue to operate independently. Customers should monitor official communications from OVO Energy for any future updates as the acquisition process progresses.