13th May 2026
E.ON has agreed to buy OVO Energy, creating what will become Britain’s largest household energy supplier, with around 9.6–10 million customers once the deal completes.
The deal was announced on 11 May 2026.
E.on would become Britain's largest energy supplier, with about 9.6 million customers, surpassing the current biggest supplier Octopus. E.on has 5.6 million household customers, while Ovo has 4 million. Ovo launched in 2009.
Regulators (including the CMA) must approve it.
Completion is expected in the second half of 2026.
Until then, OVO and E.ON operate separately.
What this means for customers
All sources emphasise the same message: don’t panic.
Existing OVO tariffs will be honoured in full.
No changes to bills or service during the review period.
Credit balances will be protected if/when customers are transferred.
You can still switch supplier if you want to.
Consumer groups (Which?, Uswitch) are telling customers that nothing changes in the short term.
Why OVO is selling
OVO has struggled with:
Losses in 2024,
Ofgem financial resilience rules,
A tougher, more regulated, capital‑intensive energy market.
Selling to E.ON gives OVO access to a much larger financial base.
What E.ON wants from the deal
E.ON says the acquisition is about:
Scaling up to lead the UK market,
Customer‑led energy flexibility (smart tariffs, EV charging, home batteries),
Digitisation — together they have 7 million smart meters installed,
Accelerating the energy transition.
Side developments
OVO has also sold its Home Services division (Corgi HomePlan, HomeHeat) to Hometree as part of restructuring.
Bottom line
OVO is being taken over by E.ON.
The deal is confirmed, but not yet approved, and nothing changes for customers until late 2026 at the earliest.