EON and OVO customers have been informed about their energy supply following a major acquisition announcement. EON has agreed to purchase the struggling UK rival OVO in a deal that will combine their customer bases, making the new entity Britain’s largest gas and electricity supplier by household numbers.
Together, the combined company will supply roughly 9.6 million customers, surpassing Octopus Energy, the current market leader with nearly 8 million UK homes served. E.ON currently serves around 5.6 million customers, while OVO supplies 4 million.
Emily Seymour, energy editor at consumer group Which?, reassures OVO customers: “There’s no need to panic; your gas and electricity supply will continue uninterrupted. E.ON has guaranteed that current tariffs will be fully honoured and services will remain unchanged. Customers don’t need to take any action and can still switch suppliers if they wish.”
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Sabrina Hoque, an energy expert at Uswitch, adds: “This acquisition would unite two of the UK’s largest energy suppliers. While OVO customers may feel concerned, their service will continue normally in the short term. The merger requires regulatory approval, which can take some time, so both companies will operate independently until then.”
Hoque further explains that if approved, energy supply to households will carry on as usual, with credit balances protected during the automatic transfer of customers. E.ON has pledged to uphold existing fixed tariffs for OVO customers throughout their contracts.
“There’s no immediate action required from E.ON or OVO customers,” emphasizes Uswitch. “The merger process will take time and be clearly communicated. However, this announcement serves as a good reminder to review your current energy deal and ensure it’s the most cost-effective option.”
She encourages consumers, especially those on standard variable tariffs, to consider comparing deals now. “Switching to a fixed tariff could result in savings, particularly amidst industry changes like this.”