Yiang Group acquires Ovo Energy, expected to create a UK energy giant

Investing.com — German energy giant E.ON (E.ON SE) announced on Monday that it will acquire UK energy supplier Ovo Energy Ltd, a move expected to help create one of the largest energy suppliers in the UK.

Neither company disclosed the specific acquisition price. E.ON said that the acquisition is subject to approval from regulators such as the UK Competition and Markets Authority, and the transaction is expected to be completed in the second half of 2026.

Previously, Ovo Energy had struggled to meet the stricter financial resilience requirements set by the UK energy regulator Ofgem. The requirement stipulates that energy suppliers must hold a minimum capital buffer to withstand market shocks such as the 2022 energy crisis. To this end, Ovo Energy has been actively seeking external investors to improve its financial position.

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