Ovo energy customers urged not to panic as takeover planned
Summary
Energy company E.On plans to buy Ovo Energy, which would create the largest energy supplier in the UK. Customers of Ovo have been told not to worry because their current prices and services will stay the same while the deal is reviewed by regulators.Key Facts
- E.On has 5.6 million customers, and Ovo Energy has 4 million customers in the UK.
- If the deal goes through, E.On and Ovo would together serve more customers than the current top supplier, Octopus.
- Both companies will keep operating separately until regulators approve the takeover, which could happen later this year.
- Existing Ovo customer plans and prices will remain unchanged during the review process.
- Customers do not need to take any action and can still switch suppliers if they want.
- Credit balances for Ovo customers would be protected and transferred automatically after the deal.
- The takeover deal value is not officially confirmed but may be around £600 million.
- Both companies emphasize their commitment to energy reliability, affordability, and the move toward zero-carbon energy.
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