E.ON has today signed an agreement to acquire the UK energy
supplier OVO, further strengthening its position in one of
Europe's largest energy markets. E.ON already supplies around 5.6
million customers in the UK. With OVO, around a further four
million customers are expected to be added. This customer base in
a highly developed and dynamic market environment enables E.ON to
develop innovative energy solutions and scale them across
Europe.
“The United Kingdom is an important growth market for E.ON,
particularly for flexibility and customer‑focused energy
solutions,”said Marc Spieker, Chief Operating Officer Commercial
at E.ON. “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 planned transaction is focused on the continued expansion of
a customer‑centric and increasingly digital energy business.
With around seven million smart meters installed, E.ON and OVO
together connect more than 60 percent of their customers in the
UK in a fully digital manner. This high level of digitalization
provides a strong foundation for further innovation in
electricity, heating and e‑mobility. E.ON plans to bring
innovations to Germany and continental Europe to make intelligent
energy solutions available to customers across Europe on a large
scale.
A particular focus is on flexibility solutions. Flexible energy
usage enables customers to play an active role in the energy
transition while significantly reducing their energy costs. E.ON
already offers around 100 different energy solutions in the UK,
with demand continuing to grow. The company invested early in
digital solutions, smart tariffs and new service offerings, and
today ranks among the highest‑rated energy suppliers in the
country.
The parties have agreed not to disclose the purchase price. The
planned acquisition is subject to regulatory approvals,
especially by the UK regulatory authorities including the
Competition and Markets Authority (CMA). Closing of the
transaction is expected in the second half of 2026. Until
regulatory clearance has been obtained and closing has been
reached, E.ON Next and OVO will continue to operate as legally
and operationally independent companies.
