E.ON looks to acquire OVO and become one of the largest energy suppliers in the UK

E.ON announced on 11 May 2026 that it is planning to acquire another of the UK’s main energy suppliers, OVO, in a move that would make it one of the largest energy suppliers in the UK. The newly combined suppliers would hold a significant share of the energy market, putting it neck and neck with the current heavyweight, Octopus.

This represents a significant investment by E.ON Group into the UK market, with the supplier citing accelerating consumer energy flexibility as a key goal. In a time when energy prices remain a concern for many households, the merger between E.ON and OVO has the potential to connect resources and new technology to deliver better value to its customers across the country.

E.ON UK CEO Chris Norbury said in a statement: “For decades, the UK energy system focused too much on those upstream. Now is our opportunity to change that. Solar, batteries, EVs and a retailer built to orchestrate. That is what this deal is about: customers in control and new energy that works for everyone.”

At the time of writing, the transaction is still in its early stages and requires regulatory approval before any changes can take place. In the meantime, customers of both suppliers will not see any change to their energy bills or services, with existing OVO tariffs to be honoured in full throughout the process.

How will this affect customers?

Sabrina Hoque, Uswitch energy expert, said: “E.ON’s planned acquisition of OVO would bring together two of the UK’s largest energy suppliers.

“OVO customers may be nervous about their current energy supply, but nothing should change in the short term, and their service will continue as normal.

“This deal will need to go through regulatory approval, which can take some time, and both suppliers will keep operating independently until then. 

“If the deal is approved, energy supply will continue for all households, and credit balances will be protected as customers are transferred across automatically. 

“If this goes ahead, E.ON has promised to honour any existing fixed tariffs that OVO customers are locked into for the duration of their contract. 

“OVO customers do not need to do anything, and your supplier will keep you updated on next steps if and when the transaction takes place.”

What should customers do?

There’s no immediate cause for action for customers of either E.ON or OVO, as the entire merger process will take time and be well communicated throughout. However, now is as good a time as any to check the current market and see if you’re on the best energy deal for your home.

Our energy expert Sabrina continues, “A shift in the industry like this is always a good prompt to check whether you’re on the best deal available. If you're on a standard variable tariff with either supplier, it's worth comparing energy deals right now as you may find you can save money by switching to a fixed deal.”