E.ON has signed an agreement to acquire British energy supplier OVO, strengthening its position in one of Europe’s largest energy markets.
E.ON already supplies energy to around 5.6 million customers in the United Kingdom. The acquisition of OVO will add around 4 million customers to this portfolio. This strong customer base, in a highly developed and dynamic market, will enable E.ON to develop innovative energy solutions and scale them up 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,” said Mark Spieker, Chief Operating Officer Commercial at E.ON.
“The planned acquisition of OVO strengthens our retail business and underlines our commitment to being the trusted partner of choice for our customers. Energy flexibility and electrification are becoming increasingly important and are essential for 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 their energy systems into reliable and affordable ones.”
The planned transition is focused on the continued expansion of a customer-centric and more digitalized energy business. With approximately 7 million smart meters installed, E.ON and OVO will together connect more than 60% of their customers in the UK in a fully digital manner. This high level of digitalization provides a solid foundation for further innovations in the areas of electricity, heating and e-mobility. E.ON intends to bring these innovations to Germany and continental Europe, making smart energy services available to customers across Europe on a large scale.
A particular focus is 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 UK, with demand continuing to grow. The company has invested early in digital solutions, smart tariffs and new services, and is now 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, in particular from the UK authorities, including the Competition and Markets Authority (CMA). Completion of the transaction is expected 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 legally and operationally independent entities.
