E.On agrees to buy rival Ovo to form huge UK energy supplier

German energy firm E.On has agreed to buy rival Ovo to create one of Britain’s largest suppliers, the companies have said.

E.On said it would take on around another four million customers through the Ovo acquisition, adding to its existing 5.6 million in the UK.

The deal is expected to complete in the second half of 2026, subject to regulatory approval.

Marc Spieker, chief operating officer commercial at E.On, said: “The United Kingdom is an important growth market for E.On, particularly for flexibility and customer‑focused energy solutions.

“The planned acquisition of Ovo strengthens our retail business and underlines our commitment to be the trusted partner of choice for our customers.

“Energy flexibility and electrification are becoming increasingly important and are critical to the success of the energy transition.

“At E.On, we are passionate about developing solutions that enable customers across Europe to play an active role in making our energy systems both reliable and affordable.”

The firms did not disclose the price of the deal.

They said there would be no change for customers while regulators review the deal and that tariffs would be “honoured in full”.

Chris Norbury, chief executive of E.On UK, said: “Solar, batteries, electric vehicles and a retailer built to orchestrate.

“That is what this deal is about: customers in control and new energy that works for everyone.”