{"id":120360,"date":"2026-05-11T12:00:00","date_gmt":"2026-05-11T11:00:00","guid":{"rendered":"https:\/\/en.econostrum.info\/uk\/?p=120360"},"modified":"2026-05-11T11:56:55","modified_gmt":"2026-05-11T10:56:55","slug":"eon-2026-shake-up-10-million-customers","status":"publish","type":"post","link":"https:\/\/en.econostrum.info\/uk\/eon-2026-shake-up-10-million-customers\/","title":{"rendered":"Eon Confirms Huge 2026 Shake-up That Could Affect Nearly 10 Million Customers"},"content":{"rendered":"\n

Eon has confirmed plans to acquire Ovo\u2019s retail energy business in a deal that would create the UK\u2019s biggest household energy supplier, serving around 9.6 million customers<\/strong> across Britain. The transaction remains subject to regulatory approval and is expected to complete during the second half of 2026.<\/p>\n\n\n\n

The German energy group said customers on both E.ON Next and Ovo tariffs would see no immediate changes during the review process, with existing contracts and tariffs remaining in place. According to statements released by the companies, the merger is intended to expand services <\/strong>linked to home batteries, electric vehicle charging and time-of-use energy tariffs.<\/p>\n\n\n\n

The agreement follows a difficult period for Ovo, which had previously warned of \u201cmaterial uncertainty<\/strong>\u201d surrounding its future in published accounts. The supplier had also faced pressure from Ofgem after failing to meet financial resilience requirements set by the regulator.<\/p>\n\n\n\n

At the same time, Eon described the acquisition as part of a broader strategy focused on customer participation in the energy system, particularly through technologies designed to shift electricity use to cheaper periods <\/strong>of the day.<\/p>\n\n\n\n

Eon Says Customers Will Retain Existing Tariffs during Review Period<\/strong><\/h2>\n\n\n\n

Eon stated that no immediate changes would affect households supplied by either company while regulators examine the proposed acquisition. Existing customer tariffs will continue to be honoured during that period.<\/p>\n\n\n\n

According to E.ON UK chief executive Chris Norbury<\/a>, the company selected Ovo because of its focus on digital energy services and technologies linked to household electrification. In a statement, he said the energy system had historically focused \u201ctoo much on those upstream<\/em>\u201d and argued that solar panels, batteries and electric vehicles would give consumers greater control over energy use.<\/p>\n\n\n\n

The company also pointed to Ovo\u2019s experience with time-of-use tariffs<\/strong>, which reward households for moving electricity consumption to off-peak hours. Eon said the combined business would aim to expand services involving EV charging, home batteries and integrated energy management systems.<\/p>\n\n\n\n

According to The Times, the enlarged company would surpass Octopus <\/strong>to become the largest energy supplier in the UK market, the deal value has not been disclosed publicly. Sky News had also reported that Eon <\/a>and Ovo <\/a>were targeting an announcement in May following negotiations over the takeover. Reports from the Financial Times, cited in earlier coverage, suggested Ovo could have been valued at approximately \u00a3600 million.<\/p>\n\n\n\n

\n

E.ON acquires OVO Energy for undisclosed sum https:\/\/t.co\/aI9hvRbVAE<\/a><\/p>— City A.M. (@CityAM) May 11, 2026<\/a><\/blockquote>