Latest News About E.on Acquires Ovo Energy Deal

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]