In a major development for energy markets, Ovo Energy has bought SSE. The move makes Ovo one of the biggest energy providers in the UK, after British Gas. It’s also now one of the “Big Six” energy suppliers.
Ovo Group now has a combined customer base of 5 million, when combined with its previous 1.5 million customers, and with 3 million additional SSE customers.
The UK’s energy market has been highly challenging for many suppliers in recent months, with many trying to review their businesses or even collapsing. Growing competition in the energy market, as well as a price cap on tariffs, have hit energy providers hard.
Ovo has said that for now SSE customers will not feel the effects of the deal. SSE will continue to operate as their supplier for now, which means that everything will stay the same. The only difference is that customers will see Ovo’s name mentioned in the small print on their contract.
SSE chief executive, Alistair Phillips-Davies says, “We have long believed that a dedicated, focused and independent retailer will ultimately best serve customers, employees and other stakeholders – and this is an excellent opportunity to make that happen.
“Following the transaction, SSE will be able to give an even greater focus to delivering the low carbon infrastructure needed to help the UK reach net zero emissions.”
Stephen Fitzpatric, Ovo founder and chief executive, said, “Today is an exciting day. It marks the end of one chapter for Ovo but, more importantly, the beginning of the next one together with SSE Energy Services. We started Ovo with a bold ambition to do better for customers and have stayed true to that vision ever since.
“We have an integration plan that leaders from both companies have collaborated on since September. There is a lot of work to do to bring the two businesses together, but we have a really strong combination of great talent, technology and customer centricity that will enable us to succeed.
“SSE’s history of excellence at scale combined with Ovo’s innovative technology and our Plan Zero commitments mean that together, as one team, we can bring millions more people with us on our journey towards zero carbon living.”
The integration of the two companies also includes SSE’s phone, broadband, & boiler and heating insurance services. For now, nothing will change for customers who have these servicers.
Ovo’s customers also won’t experience any changes in their service—things will continue as.
What Do SSE Customers Need to Do?
If you’re an SSE customer, there’s nothing you need to do. Nothing will change yet, and you’ll still receive energy from SSE. Ovo says it will notify SSE customers when there’s news to share.
For now, your service will continue as normal. You’ll receive the same tariff you have now, paying the same amount for your energy and use the same payment method you have now. You’ll still be able to manage your account both online and offline, too.
Even so, if you’d like to switch, you’re free to do so. However, be sure to check with SSE to see if your tariff includes an exit fee. If so, you’ll be charged the exit fee when you make the switch. For those who would like to make the switch to SSE, you can still do so using the normal methods.
Ovo says it’s business as usual for now, as they work to integrate with SSE.
What About Customers Whose Broadband, Boiler & Heating Insurance are with SSE?
If you also have phone and broadband services with SSE, you won’t experience any changes to your service.
And if you have boiler and heating coverage, your service will also stay the same. You’ll have coverage until the end of your contract, just as it’s always been.
If there are any changes in the future, Ovo has said they will notify you.