E.ON signs agreement to acquire OVO
UK – E.ON has announced plans to acquire UK energy supplier OVO in a move that would significantly expand its position within the British energy market and strengthen its focus on electrification, flexibility and digital energy services.
The agreement, announced on 11 May, would see E.ON add around four million OVO customers to its existing UK customer base of approximately 5.6 million accounts, subject to regulatory approval.
The company said the acquisition would support the continued expansion of a customer-focused and increasingly digital energy business, with particular emphasis on smart energy systems, flexibility services and electrified technologies, including heating and e-mobility.
Focus on flexibility and digital energy
According to E.ON, the combined businesses would operate around seven million smart meters across the UK market, with more than 60% of customers connected through fully digital systems. The company said this would create a platform for further development of intelligent electricity, heating and mobility services, both within the UK and across wider European markets.
Marc Spieker, chief operating officer commercial at E.ON, said the UK remained an important growth market for customer-focused energy solutions and flexibility services.
Energy flexibility and electrification are becoming increasingly important and are critical to the success of the energy transition
Marc Spieker, chief operating officer commercial at E.ON
E.ON said it already offers around 100 energy solutions within the UK market, including smart tariffs and connected energy services designed to support flexible energy usage and reduce customer costs.
Growing overlap between energy and heating
The acquisition also reflects the growing overlap between energy supply businesses and electrified home energy services, where heating, smart tariffs and flexibility are becoming increasingly interconnected. As suppliers continue expanding beyond traditional retail supply, flexibility and controllable electrical demand are becoming increasingly important within long-term energy strategies. For the wider heat pump sector, the proposed transaction highlights the increasing importance of flexibility-led energy systems as electrified heating adoption continues to grow.
Regulatory approval still required
The parties said the purchase price would not be disclosed and the transaction remains subject to regulatory approvals, including review by the Competition and Markets Authority (CMA), with completion expected during the second half of 2026.
Until approval is granted and the deal completes, E.ON Next and OVO will continue to operate as separate businesses.
