E.ON to Acquire OVO Energy, Creating 9.6 Million Customer Utility Giant

E.ON has agreed to acquire OVO Energy for an undisclosed amount, creating one of the UK’s largest energy retailers with 9.6 million customers. The deal combines E.ON’s 5.6 million UK customers with OVO’s 4 million accounts. Expected to close in the second half of 2026, the acquisition reflects growing consolidation in Britain’s energy market as tighter regulatory and financial requirements increase the importance of scale and long-term capital access.