E.ON signed an agreement on Monday to acquire British energy supplier OVO, thereby strengthening its position in one of Europe's largest energy markets.
E.ON already supplies energy to approximately 5.6 million customers in the United Kingdom. With the acquisition of OVO, around 4 million customers will be added to this portfolio. This solid customer base, in a highly developed and dynamic market, will enable E.ON to develop innovative energy solutions and expand them on a European scale.
„The United Kingdom is an important growth market for E.ON, particularly in terms of flexibility and customer-oriented energy solutions.” stated Mark Spieker, Chief Operating Officer Commercial of E.ON.
„The planned acquisition of OVO strengthens our retail business and underscores our commitment to being the trusted partner of choice for our customers. Energy flexibility and electrification are becoming increasingly important and are essential to the success of the energy transition. At E.ON, we are dedicated to developing solutions that enable customers across Europe to play an active role in transforming energy systems into reliable and affordable ones.”.
The planned transition focuses on the ongoing expansion of a more digital, customer-centric energy business. With approximately 7 million smart meters installed, E.ON and OVO will together connect over 60% of their customers in the UK via a fully digital platform. This high level of digitalization provides a solid foundation for further innovations in electricity, heating, and electric mobility. E.ON intends to bring these innovations to Germany and continental Europe, making large-scale smart energy services available to customers across Europe.
Particular emphasis is placed on flexibility solutions. Flexible energy use allows customers to play an active role in the energy transition while reducing their energy costs. E.ON already offers around 100 different energy solutions in the United Kingdom, with demand continuously growing. The company invested early in digital solutions, smart tariffs, and new services, positioning itself today among the most reputable energy providers in the country.
The parties have agreed not to disclose the transaction price. The planned acquisition is subject to regulatory approvals, particularly from UK authorities, including the Competition and Markets Authority (CMA). The transaction is expected to close in the second half of 2026. Until approvals are obtained and the transaction is completed, E.ON Next and OVO will continue to operate as independent legal and operational entities.