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CMA clears E.On's takeover of Ovo to create Britain's BIGGEST electricity supplier with 9.6 million customers

From the Newshound archive · first published 1 October 2026 · last updated 2 October 2026.

The CMA cleared E.On's takeover of Ovo Energy without an in-depth investigation, creating Britain's biggest electricity supplier with 9.6 million customers.
The CMA cleared E.On's takeover of Ovo Energy without an in-depth investigation, creating Britain's biggest electricity supplier with 9.6 million customers.

The Competition and Markets Authority decided against referring the deal for an in-depth investigation, clearing the merger to close by the end of 2026. Ovo founder Stephen Fitzpatrick agreed the sale in May for a reported sum of up to £600 million. Ovo has previously pledged that existing tariffs would be "honoured in full" throughout the transition.

The CMA launched its inquiry on 2 September but concluded that the transaction would not significantly reduce competition in the UK energy market.

Ovo had flagged a "material uncertainty" over its future after failing to meet financial resilience targets, which triggered the sale process.

Customers' supply will continue uninterrupted, though Ovo tariffs may eventually disappear as the brand is absorbed into E.On.

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