E.ON Signs Agreement To Acquire UK-Based OVO Energy, Expanding Its Position In A Major European Market

E.ON has signed an agreement to acquire UK-based energy supplier OVO Energy, a move that will further strengthen its presence in one of Europe’s largest and most competitive energy markets. E.ON currently serves about 5.6 million customers across the United Kingdom, and the addition of approximately four million OVO customers is expected to significantly expand its reach.

With this combined customer base, E.ON aims to accelerate the development and rollout of innovative energy solutions that can be scaled across Europe.Marc Spieker, Chief Operating Officer Commercial at E.ON, emphasized the strategic relevance of the UK market, noting its importance for customer-centric and flexibility-focused energy solutions.

He explained that the planned acquisition reinforces E.ON’s position in the retail energy sector and reflects its broader commitment to helping customers actively participate in achieving a more reliable and affordable energy system. As electrification and energy flexibility continue to grow in importance, E.ON intends to deepen its offerings that support both household control and system-wide stability.

A key element of the transaction is the opportunity to advance a more digital and customer-focused energy ecosystem. Together, E.ON and OVO have installed around seven million smart meters in the UK, enabling more than 60 percent of their customers to engage with energy services through fully digital channels.

This strong digital foundation will support further advances in electricity management, heating solutions and e-mobility services. E.ON also plans to transfer UK-driven innovations to Germany and other parts of continental Europe to expand access to intelligent energy solutions at scale.

The acquisition aligns with E.ON’s focus on flexibility solutions, which help customers optimize their energy use, lower costs and contribute to the energy transition. In the UK, E.ON already provides roughly 100 different energy solutions, reflecting early investments in digital platforms, smart tariffs and new service offerings.

This approach has positioned the company among the highest-rated energy suppliers in the market.Financial details of the agreement have not been disclosed. The transaction remains subject to regulatory review, including approval from UK authorities such as the Competition and Markets Authority. Completion is expected in the second half of 2026. Until clearance is granted and the transaction closes, E.ON Next and OVO will continue operating independently, both legally and operationally.