E.On to acquire OVO energy retail business

It’s not clear if OVO sells the business or just joins the bigger energy group? 
Either way, not happy about it. 

I’m not happy either. I moved to E.ON to get away from OVOs debacle over the EV tariff. 🤔

You are safe, E.ON is not going to become OVO 😁

I hope that, if OVO and E.On do become part of the same group that it will mean that OVO will introduce tariff choices similar to those offered by E.ON. They have some interesting time of use tariffs that could benefit some users.

Morning all, as it stands, we have no further info to share on the Forum than that which is included in the link ​@Firedog has shared. We’ll of course let you know as soon as we have more news. As it stands, the acquisition is awaiting regulatory approval, and it’ll be some months before any changes are made, should the acquisition happen.

As ​@Ben_OVO said, it’s still awaiting regulatory approval.
In the words of Lance Corporal Jones: "Don't panic!".

Or perhaps:

Or perhaps:

 

Let's hope not.

Was it the part of the deal, to keep the name three letters long, two vowels and one consonant, with at least one of them to be “O”? 😄

To the tune of ‘Old Macdonald ...’, E-O-NO-V-O.

Kathryn Porter (of Watt-Logic fame) makes her personal comments on the current state of the retail electricity market after the E.On - OVO merger: Swings and roundabouts: the retail energy market consolidates again.

I subscribe to Katherine as well and she does tend to come out with good observations but she is a bit fossil fuel biased but usually on the basis that our headlong rush for renewables (remember that it was only 10 years ago that we were ramping down coal in a major way) has perhaps been more expensive for the majority of people that it perhaps it needed to be. I'm not saying that is an overly bad thing. I am massively benefiting from the disordered integration of renewables into a system (CfD, negative pricing) that was (and still is) ill equipped to accommodate them but people who are not able to take advantage of that have been significantly disadvantaged and are poorer as a result. And maybe this is contributing to the level of debt that remains unpaid and eventually falls to others to pay.

Peter

She says “More broadly, the transaction indicates that the “challenger supplier” era is effectively over, and after the collapse of dozens of suppliers during the energy crisis the market is consolidating back towards a handful of very large, heavily capitalised players with sufficiently strong balance sheets to absorb volatility, regulatory change and working capital stress. Ironically, one of the companies that spent years presenting itself as the technologically superior disruptor to the incumbent utilities has now been absorbed by one of them.”

Honestly, I’m not that surprised, as this is common in many other industries. The little guys (or disruptors, as they’re often called) come along with a better product or offering, only to be snapped up by a bigger fish further down the line. 

Thanks for posting the article ​@Firedog - interesting read. Hopefully the acquisition, should it go ahead, will bring opportunity and security.