Latest News About E.on Acquires Ovo Energy Deal

Here’s the latest on E.ON’s acquisition of Ovo Energy based on recent reports.

Answer

• E.ON has agreed to acquire Ovo Energy, aiming to create the UK’s largest energy supplier, with the combined customer base reported around 9.6 million households. The deal value hasn’t been officially disclosed, with media sources estimating up to about £600 million, and regulatory approval is still pending.[1][3][6]

Key details

• Structure during review: Both companies will continue to operate independently while the deal goes through regulatory scrutiny, and existing tariffs are promised to be honored during the review period.[3][5]
• Divestments and terms: Ovo is also selling its home services division (boiler servicing and insurance) to Hometree as part of the broader transaction; E.ON plans to retain Ovo’s energy services arrangements and software licenses where applicable.[8][1]
• Timeline expectations: Approval from UK regulators is anticipated in H2 2026, with completion expected in the second half of the year, subject to clearance.[5][3]

Context and quick take

• The deal reflects a shift toward scale in UK energy retail, with regulators likely weighing competition and consumer protections given the size of the combined group.[6][3]
• If completed, the merged entity would surpass Octopus Energy as the largest UK domestic supplier by customer count, marking a significant consolidation in the market.[3]

Illustration (what it means for customers)

• For now: no changes to tariffs or service during the regulatory process; price protections and contract terms remain in force for existing Ovo and E.ON Next customers.[6][3]

Citations

• E.ON agrees to buy Ovo to create UK’s biggest energy supplier [The Guardian, May 11, 2026].[1]
• UK regulatory review and timeline for completion expected in H2 2026 [RTE, BBC, and other sources cited].[3][6]
• Ovo divesting home services to Hometree as part of the deal [The Guardian; Independent].[8][1]

Would you like a brief bullet-point FAQ for customers (impacts on bills, contract terms, and customer service during the review), or a simple timeline graphic? I can also pull the latest regulatory body statements if you want specific quotes.