Direct answer: Yes, E.ON has announced plans to acquire OVO Energy, with regulatory approval expected in the second half of 2026; the deal would create one of the UK’s largest energy suppliers, but both companies will operate independently while the review is ongoing.
Key details:
- Announcement date and scope: E.ON disclosed the planned acquisition of OVO Energy, aiming to expand its UK footprint and digital energy capabilities. Regulatory review is the gatekeeper for closing in H2 2026. [BBC coverage indicates the plan and review timeline; sources discuss protecting customer tariffs during the review period.][1][3]
- Customer impact during review: No changes to tariffs or service for existing E.ON Next and OVO customers during the regulatory clearance process; services continue as today until closing. [BBC: “no changes during the regulatory review period”; EQS and other notices reiterate independence until closing.][2][3][5]
- Deal context and scale: The transaction would combine roughly several million UK customers and push the merged entity toward leading market position, with the purchase price undisclosed publicly. Estimated valuations in media range from several hundred million pounds. [Independent and financial notices discuss potential scale and undisclosed price; other reports provide rough valuations.][7][8][9]
What to watch next:
- Regulatory milestones: CMA and other UK authorities’ findings will determine timing and conditions for closing; expect updates in H2 2026. [E.ON EQS release and BBC coverage.][2][7]
- Customer communications: Expect continued assurances about tariffs and service during the review; once approved, integration steps and potential product consolidation will be outlined by E.ON and OVO. [BBC: tariff protection; EQS and press releases.][3][5]
Illustration (example scenario):
- If the deal closes in late 2026, the combined group could serve a materially larger base with increased digital and flexible-energy capabilities, possibly enabling price competition and smarter energy management for customers. [E.ON press materials discuss customer-centric, digital energy focus; market analyses discuss scale implications.][8][10]
Citations:
- BBC News on Ovo takeover planning and customer assurances.[3]
- EQS press release and CMA/regulatory notes on closing timeline.[7][2]
- Independent and industry coverage on scale and pricing details.[9]
Sources
The parties have agreed not to disclose the purchase price. The planned acquisition is subject to regulatory approvals, especially by the UK regulatory authorities including the Competition and Markets Authority (CMA). Closing of the transaction is expected in the second half of 2026. Until regulatory clearance has been obtained and closing has been reached, E.ON Next and OVO will continue to operate as legally and operationally independent companies.
live.deutsche-boerse.comThe UK's energy market is set for another big shake-up with E.on's announcement of a proposed takeover of Ovo to create what would become the UK's biggest domestic supplier
www.mirror.co.ukComprehensive details of regulatory and non regulatory announcements from FTSE 100, 250, AIM and techMARK quoted companies
www.investegate.co.ukApril 25 - German energy supplier E.ON is in advanced talks to acquire Ovo Energy - Sky News ...
uk.marketscreener.comOvo has also agreed to sell its home services division, which provides boiler servicing and insurance, to Hometree
www.independent.co.ukThe parties have agreed not to disclose the purchase price. The planned acquisition is subject to regulatory approvals, especially by the UK regulatory authorities including the Competition and Markets Authority (CMA). Closing of the transaction is expected in the second half of 2026. Until regulatory clearance has been obtained and closing has been reached, E.ON Next and OVO will continue to operate as legally and operationally independent companies.
www.eqs-news.comExisting energy system shaped upstream around large-scale generation ripe for disruption amid rise of digitisation, solar, batteries and EVs
businesscloud.co.ukE.ON is in advanced talks to buy OVO Energy for up to £600m. The combined supplier would serve 9.6m UK homes and overtake Octopus. What it means for your bill.
www.switch-pilot.comAll existing tariffs will be honoured in full under a planned deal that could create Britain's largest energy supplier.
www.bbc.comE.ON has today (11 MAY 2026) announced its planned acquisition of OVO, a UK residential energy supplier. The transaction represents a significant investment by E.ON Group into the UK market and is about accelerating consumer energy flexibility - putting control in customers' hands, bringing bills down, and reshaping the energy system around people.
news.eonenergy.com