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OVO Energy
OVO Energy is an energy supplier based in Bristol, England.
It was founded by Stephen Fitzpatrick and began trading energy in September 2009, buying and selling electricity and gas to supply domestic properties throughout the UK. By June 2017, OVO had 680,000 customers, an increase of 10,000 over the previous year, representing a 2.5% domestic market share. Although at first one of over 15 smaller energy companies competing with the Big Six, which dominated the market, in January 2020, OVO completed the acquisition of the retail arm of SSE, becoming the country's third-largest domestic energy supply company.
OVO Energy is British-owned and privately backed, with its headquarters in Bristol. The company has supplied gas and electricity to domestic customers since 2009. This sector of the UK economy has in the past been dominated by a number of large companies known as the Big Six.
In November 2018, OVO acquired one of its rivals, Spark Energy, after the troubled supplier ceased trading. The acquisition included a subsidiary, Home Telecom Limited, which specialises in providing telephone and broadband services to tenants of private landlords.
In September 2019, OVO agreed to pay £500 million for SSE Energy Services, the retail business of SSE plc, and the purchase – which included SSE's 8,000 employees and their phone, broadband and heating insurance customers – was completed in January 2020. This made OVO the UK's second-largest energy supply company (after British Gas) with around 5 million customers. OVO stated that the SSE brand would continue for the time being. SSE had earlier intended to merge the business with Innogy's subsidiary Npower, but this was called off in December 2018. Following OVO Energy's takeover of SSE, numerous reports of incorrect and inflated bills were reported by former SSE consumers who had their accounts transferred to OVO Energy.
In February 2019, Mitsubishi Corporation bought a 20 percent stake in OVO, valuing the company at £1bn.
In June 2025, it was reported that OVO Energy and Iberdrola (the owner of Scottish Power) were in exploratory talks about a merger.
The entry of OVO into the UK supply market in 2009 was welcomed as it increased competition in a market that had been criticised for high prices.
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OVO Energy
OVO Energy is an energy supplier based in Bristol, England.
It was founded by Stephen Fitzpatrick and began trading energy in September 2009, buying and selling electricity and gas to supply domestic properties throughout the UK. By June 2017, OVO had 680,000 customers, an increase of 10,000 over the previous year, representing a 2.5% domestic market share. Although at first one of over 15 smaller energy companies competing with the Big Six, which dominated the market, in January 2020, OVO completed the acquisition of the retail arm of SSE, becoming the country's third-largest domestic energy supply company.
OVO Energy is British-owned and privately backed, with its headquarters in Bristol. The company has supplied gas and electricity to domestic customers since 2009. This sector of the UK economy has in the past been dominated by a number of large companies known as the Big Six.
In November 2018, OVO acquired one of its rivals, Spark Energy, after the troubled supplier ceased trading. The acquisition included a subsidiary, Home Telecom Limited, which specialises in providing telephone and broadband services to tenants of private landlords.
In September 2019, OVO agreed to pay £500 million for SSE Energy Services, the retail business of SSE plc, and the purchase – which included SSE's 8,000 employees and their phone, broadband and heating insurance customers – was completed in January 2020. This made OVO the UK's second-largest energy supply company (after British Gas) with around 5 million customers. OVO stated that the SSE brand would continue for the time being. SSE had earlier intended to merge the business with Innogy's subsidiary Npower, but this was called off in December 2018. Following OVO Energy's takeover of SSE, numerous reports of incorrect and inflated bills were reported by former SSE consumers who had their accounts transferred to OVO Energy.
In February 2019, Mitsubishi Corporation bought a 20 percent stake in OVO, valuing the company at £1bn.
In June 2025, it was reported that OVO Energy and Iberdrola (the owner of Scottish Power) were in exploratory talks about a merger.
The entry of OVO into the UK supply market in 2009 was welcomed as it increased competition in a market that had been criticised for high prices.