📢 May 2026 — E.ON acquires OVO Energy
E.ON announced the acquisition of OVO Energy's retail supply business on 11 May 2026, pending CMA approval (expected H2 2026). Existing OVO tariffs are unaffected during the transition. If approved, OVO accounts will transfer to E.ON Next, creating the UK's largest energy supplier.
⚖️Side-by-Side Comparison
OVO Energy absorbed SSE's retail customer base in 2020 to become the UK's fourth-largest supplier. It has taken an unusually honest stance on green credentials — but its EV pricing, customer satisfaction, and financial stability have come under pressure in 2025–2026.
| Category | Octopus Energy | OVO Energy |
|---|---|---|
| Trustpilot Rating | 4.8/5 (779K+ reviews) | 4.6/5 (270K reviews) |
| Which? Recommended | 9 consecutive years | Not recommended (~56% score — near bottom) |
| Green Electricity (standard) | 100% renewable-backed (REGO) | ~2% renewable (honest grid-based accounting) |
| Green Electricity (add-on) | Included as standard | +£8/month for Greener Electricity (real PPAs) |
| EV Charging Rate | ~7–8p/kWh overnight (Intelligent Go) | 14p/kWh flat (Charge Anytime — doubled Oct 2025) |
| Smart Tariffs | Agile, Tracker, Intelligent Go, Cosy, Flux | No time-of-use tariff; Charge Anytime EV add-on only |
| Exit Fees (variable) | None | None on Simpler Energy variable |
| Exit Fees (fixed) | None on any tariff | Applies if >53 days remain on fixed deal |
| Ofgem Enforcement | None | £2.37m (2024) + £2.8m (2026) in fines/redress |
| UK Customers | 7.3M (23.7%) | ~4M (~11.7% electricity market share) |
| Financial Status | Profitable, growing | Going concern warning Sep 2025; E.ON acquisition announced |
| Loyalty Rewards | Octoplus — Saving Sessions, monthly spin | OVO Beyond — solar panels, boiler service, EV miles |
⭐Customer Service
OVO's 4.6/5 Trustpilot score from 270,000 reviews appears strong, but it conflicts sharply with institutional ratings. Which? placed OVO among the lowest-scored suppliers in its 2026 survey (~56% satisfaction), and Citizens Advice scored it 2.76 out of 5 — below average. Billing and direct debit management are the most commonly cited problems.
The enforcement record is significant. Ofgem required OVO to pay £2.37 million in redress in 2024 for failing to resolve 1,395 customer complaints — 706 of which were from vulnerable customers — with some waiting 18 months. In January 2026, Ofgem ordered a further £2.8 million in compensation for failing to pass government energy support payments to 11,646 customers for 19 months. Octopus Energy has no equivalent enforcement history.
⚡Tariff Innovation
OVO offers standard fixed and variable tariffs plus a Charge Anytime add-on for EV drivers (from £27.50/month or 14p/kWh PAYG). Smart scheduling automatically charges your car during cheaper periods — no time-window restrictions. The OVO Beyond loyalty programme includes up to 5 free solar panels, a free annual boiler service, and EV mile credits — genuinely differentiated rewards.
But OVO has no equivalent of Agile Octopus (half-hourly pricing that can go negative), Octopus Tracker (daily wholesale pricing), or dedicated solar export optimisation tariffs like Flux. The Charge Anytime price doubling from 7p to 14p/kWh in October 2025 significantly eroded OVO's EV value proposition.
🌱Green Energy
OVO took a principled stance in 2023 by stopping the use of REGO certificates — the renewable energy certificates that allow most UK suppliers to claim “100% green” tariffs without genuinely sourcing renewable power. OVO's standard Simpler Energy tariff reflects actual grid-mix sourcing, which discloses as approximately 2% own-sourced renewable with a carbon intensity of ~474g CO₂/kWh — honest, but alarming-looking.
The Greener Electricity add-on (£8/month) provides electricity backed by genuine Power Purchase Agreements with independent UK renewable generators — a more credible claim than the REGO certificates used by most competitors. OVO has also planted 5 million UK trees since 2015 and published a Climate Transition Plan targeting net-zero operations by 2030. On green ambition, OVO's approach is arguably more honest than the industry norm — just less marketable.
💷Pricing
OVO's Simpler Energy variable tariff tracks the Ofgem price cap — ~24.90p/kWh electricity in Q2 2026, slightly above the national average due to regional variation. Fixed tariffs are broadly market-competitive. There are no exit fees on the variable tariff; fixed tariffs carry fees beyond 53 days before the end date.
Octopus's Tracker tariff was running at approximately £126/month in May 2026 — well below both suppliers' standard rates. For EV owners specifically, the Charge Anytime price hike to 14p/kWh makes OVO significantly more expensive than Octopus Intelligent Go at ~7–8p/kWh. On a 10,000-mile/year EV, the difference over a year is substantial.
🏆Our Verdict
OVO deserves credit for intellectual honesty on green credentials and for OVO Beyond's genuinely useful loyalty rewards. But the overall picture in 2026 is difficult: two Ofgem enforcement actions, a going concern financial warning, an EV charging price that doubled, and customer satisfaction near the bottom of the market.
With the E.ON acquisition pending, OVO customers face an uncertain period before their accounts potentially transfer. Switching to Octopus now removes that uncertainty and delivers a supplier that leads the market on service, tariff innovation, and financial stability. Switching takes about 5 minutes and earns you £50 free credit.