Direct answer: E.ON has agreed to acquire Ovo Energy, a deal that would create the UK's largest energy supplier, with regulatory approvals still required and closing expected in the second half of 2026.[3][4]
Details:
- The combined group would serve about 9.6 million customers, potentially topping market leader Octopus.[3]
- The purchase price has not been disclosed publicly, though reports have suggested around £600 million.[4][6][3]
- Both companies say tariffs and existing contracts will be honored during the regulatory review, and E.ON Next and Ovo will continue to operate independently until closing.[7][3]
What to watch next:
- CMA and other regulators’ decisions could affect timing or structure of the deal; approval is anticipated in H2 2026.[7][3]
- Ovo’s strategic options include continuing its core business while the integration progresses; Ovo’s founder comments emphasized the need for scale in a regulated, capital-intensive market.[6][3]
Illustrative context:
- If completed, the merger would consolidate retail energy supply in the UK, potentially driving efficiency and more bargaining power with suppliers, though consumer experience during the transition will hinge on regulatory oversight and integration execution.[4][3]
Citations:
- E.ON–OVO deal overview and ~£600m guidance:[6][3][4]
- Regulatory pathways and closing timeline:[3][4][7]
Sources
Acquisition would result in combined company serving about 9.6 million households if given regulatory approval
www.theguardian.comOvo has also agreed to sell its home services division, which provides boiler servicing and insurance, to Hometree
www.independent.co.ukApril 25 - German energy supplier E.ON is in advanced talks to acquire Ovo Energy - Sky News ...
uk.marketscreener.comApril 25 - German energy supplier E.ON is in advanced talks to acquire Ovo Energy - Sky News ...
www.marketscreener.comE.ON SE: Signs agreement to buy UK energy supplier Ovo Announces acquisition of UK energy supplier Ovo Purchase price for Ovo acquisition not disclosed Closing of transaction is expected in...
www.marketscreener.comGerman energy firm E.On has agreed to buy rival Ovo in a deal which would create Britain's largest supplier.
www.rte.ieThe firms did not disclose the value of the deal, although previous reports indicated that it could be as much as £600 million.
www.independent.co.ukAll existing tariffs will be honoured in full under a planned deal that could create Britain's largest energy supplier.
www.bbc.comThe parties have agreed not to disclose the purchase price. The planned acquisition is subject to regulatory approvals, especially by the UK regulatory authorities including the Competition and Markets Authority (CMA). Closing of the transaction is expected in the second half of 2026. Until regulatory clearance has been obtained and closing has been reached, E.ON Next and OVO will continue to operate as legally and operationally independent companies.
live.deutsche-boerse.comE.ON has today (11 MAY 2026) announced its planned acquisition of OVO, a UK residential energy supplier. The transaction represents a significant investment by E.ON Group into the UK market and is about accelerating consumer energy flexibility - putting control in customers' hands, bringing bills down, and reshaping the energy system around people.
news.eonenergy.com