E.ON Next completed its takeover of Ovo Energy yesterday, giving the supplier 25 per cent of Great Britain’s household energy market and leaving almost three-quarters of homes served by three companies.
The deal went through after the Competition and Markets Authority cleared the acquisition on 1 October, at the end of a phase 1 inquiry launched on 2 September. The watchdog published the full text of its decision on Tuesday.
The clearance came despite concerns that a shrinking number of household suppliers could leave bill payers with less choice and suppliers with less incentive to lower bills.
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