Press release:

Ovo Energy buys SSE

Commenting on the news that Ovo Energy has reached an agreement to buy SSE Energy Services, uSwitch energy expert Rik Smith said:

“SSE has been looking for a buyer for its’ home energy supply business for a long time, while Ovo has been steadily growing and is already the seventh largest supplier in the market.

“The takeover of SSE by Ovo would make the new supplier the second largest in the country, with around 5 million households on its books.

“The good news for consumers is that the two existing companies have a good track record of treating customers well, having both topped the tables for customer satisfaction in the uSwitch awards this year.

“Where they go with their prices remains to be seen, but there are also questions about the brand name that will on people’s bills in future. SSE customers are very loyal to its Swalec, SSE, and Scottish Hydro brands in various parts of the country.

“Ovo is also known to be at the forefront of new technology such as electric vehicle charging and smart meters, and buying the current second largest supplier in the country means there is a huge opportunity for them to expand further in this area.

“SSE customers should have nothing to fear from this takeover, but as ever, anyone who has concerns about their supplier’s price or service should shop around to see if there is a better deal for them elsewhere.”

— ends —

Notes to editors

1. In the uSwitch Energy Awards 2019, Ovo was awarded Supplier of the Year, while SSE was awarded Large Supplier of the Year.

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