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Consumer groups have encouraged customers of energy supplier Ovo to remain calm following the announcement that rival company E.On intends to acquire Ovo. According to the consumer organization Which?, all existing tariffs will continue to be honored fully, and there will be no impact on the supply of gas and electricity during the proposed takeover process.
The merger is expected to form one of the largest energy suppliers in the UK, competing closely with Octopus Energy for market leadership. At present, E.On serves approximately 5.6 million customers, while Ovo has around four million. Both companies will continue to operate independently until regulatory approval for the deal is finalized, potentially later in the year. Although the financial details of the agreement have not been officially revealed, some reports have valued the takeover at up to £600 million. Regulatory authorities will carefully review the deal before granting any approval.
Consumer groups have reassured customers that their fixed tariffs will be safeguarded throughout the regulatory review period. Emily Seymour, energy editor at Which?, advised Ovo customers not to worry, stating, “If you’re an Ovo customer, don’t panic, your gas and electricity supply will continue as usual. E.On have assured customers that existing tariffs will be honoured in full and service will continue unchanged. You don’t need to do anything and you’re still able to switch supplier if you wish.” Sabrina Hoque from price comparison site Uswitch acknowledged that customers might feel uneasy but highlighted that credit balances would be protected and customers would be transferred seamlessly if the deal goes ahead.
Experts note that if the merger proceeds, the combined E.On and Ovo entity would contend with Octopus for the title of the UK’s largest energy supplier. Market share assessments vary depending on whether dual fuel customers or individual gas and electricity accounts are counted. Tom Goswell of energy consultancy Cornwall Insight commented that while larger suppliers offer “stability, resilience, and the ability to invest,” they could also lead to less consumer choice. Leadership at E.On emphasized the importance of the UK market and the critical role of energy flexibility and electrification in supporting the energy transition. Stephen Fitzpatrick, Ovo’s founder, described the acquisition as the appropriate next step for customers, employees, and the journey toward zero-carbon energy. Meanwhile, union representatives acknowledged the understandable concerns of Ovo workers about job security, highlighting E.On’s reputation for constructive engagement with unions
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