German Energy Giant E.On to Buy UK Rival Ovo Energy

On has agreed to buy rival Ovo to create one of Britain’s largest energy suppliers, the companies have said. 6 million in the UK. The firms did not disclose the price of the deal.

The deal is expected to complete in the second half of 2026, subject to regulatory approval. There would be no change for customers while regulators review the deal and tariffs would be honoured in full.

On, said the United Kingdom is an important growth market for the company, particularly for flexibility and customer-focused energy solutions. “The planned acquisition of Ovo strengthens our retail business and underlines our commitment to be the trusted partner of choice for our customers,” Spieker said.

He added that energy flexibility and electrification are becoming increasingly important and are critical to the success of the energy transition.

ON UK, said the deal marks a shift in focus for the British energy system. “For decades the UK energy system focused too much on those upstream. Now is our opportunity to change that,” Norbury said.

“Solar, batteries, EVs and a retailer built to orchestrate. On UK, reinforced the customer-centric vision.

That is what this deal is about: customers in control and new energy that works for everyone,” he said. On’s strategy to expand in a market it sees as central to its European growth plans. On as a major player in retail energy supply at a time when solutions such as solar, batteries and electric vehicles are gaining importance.

On the company is passionate about developing solutions that enable customers across Europe to play an active role in making energy systems both reliable and affordable. The deal remains subject to regulatory approval before it can proceed.