A PYMNTS Company

EON’s Ovo Takeover Faces UK Antitrust Scrutiny

By  |  September 2, 2026
U.K. flag

EON SE’s proposed acquisition of Ovo Energy, a transaction that would create Britain’s largest domestic electricity supplier, is facing scrutiny from the UK’s competition regulator.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The Competition and Markets Authority opened an initial investigation Wednesday to determine whether the combination could weaken competition in Britain’s energy supply market, according to Bloomberg’s.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    The regulator has set an Oct. 28 deadline to complete the first stage of its assessment. At that point, the CMA can approve the transaction or refer it for a more extensive investigation, according to Bloomberg.

    The proposed combination would bring together EON’s 5.6 million UK customers and Ovo’s roughly 4 million customers. The merged supplier would control about 27% of the market and overtake Octopus Energy as Britain’s largest domestic electricity provider, Bloomberg reported, citing data from energy regulator Ofgem.

    EON and Ovo announced the transaction in May but did not disclose its value. The companies have said the acquisition is expected to be completed during the second half of 2026, according to Bloomberg.

    The regulatory review introduces another hurdle for a deal that would significantly reshape the competitive landscape of the UK household energy market. The CMA’s initial inquiry will focus on whether the increased concentration resulting from the transaction warrants a deeper examination.

    Source: Bloomberg