German energy company E.ON has signed an agreement to acquire the UK energy supplier OVO, strengthening its presence in one of Europe’s largest energy markets. E.ON currently serves approximately 5.6 million customers in the United Kingdom, and the acquisition of OVO is expected to add around 4 million more customers (E.ON press release, 11/05/2026).
This transaction will position the combined entity as one of the UK's largest energy suppliers. As of September 2025, three companies accounted for roughly 2/3 of the residential retail sector: Octopus Energy (25%), British Gas (21%), and E.ON (16%). The remaining major players are OVO (12%), EDF Energy (10%), and ScottishPower (8%) (Enerdata Global Energy Research).
The acquisition awaits approval from UK regulatory authorities, including the Competition and Markets Authority (CMA). Transaction closing is anticipated for the second half of 2026.