EON issues urgent message to OVO and EON customers on fixes as takeover begins | Personal Finance | Finance

Energy giant EON has issued an urgent message to OVO customers as it begins a takeover of its gas and electricity rival.

E.ON has today (Monday, May 11) announced it plans to buy out energy supplier OVO in a major move in the sector.

The firm said the acquisition will ‘strengthen E.ON UK’s ability to deliver value for customers and grow its core retail business’.

OVO customers on fixed tariffs will be wondering how the buyout will affect their deals and whether they will still be honoured when EON takes over.

As part of its announcements, the firm issued an urgent message to OVO customers currently on fixed deals.

It confirmed that ‘there will be no change’ during the regulatory review period and ‘existing tariffs will be honoured in full and service will continue unchanged’ for both EON and OVO customers.

It said in a statement: “The transaction represents a significant investment by E.ON Group into the UK market and is about accelerating consumer energy flexibility – putting control in customers’ hands, bringing bills down, and reshaping the energy system around people.

“E.ON Next is already one of the UK’s highest-rated energy suppliers on Trustpilot, with a score rating of ‘Excellent’, reflecting consistently strong customer feedback and industry-leading satisfaction levels. E.ON UK is built on financial sustainability, delivering for customers and making new energy work for everyone – affordable, sustainable and flexible.

“The acquisition strengthens E.ON UK’s ability to deliver value for customers and grow its core retail business.

“For too long, the energy system has been shaped upstream, around large-scale generation. Consumer flexibility, digitisation, solar, batteries, EVs – and a retailer built to orchestrate them – change that. This is rooted in a simple principle: better outcomes for customers.

“For customers of both E.ON Next and OVO, there will be no change during the regulatory review period, and existing tariffs will be honoured in full, and service will continue unchanged.”

Chris Norbury, CEO of E.ON UK, said: “For decades the UK energy system focused too much on those upstream. Now is our opportunity to change that. Solar, batteries, EVs and a retailer built to orchestrate. That is what this deal is about: customers in control and new energy that works for everyone.”