E.ON Next deal to buy Ovo Energy leaves UK with just ‘big three’ energy suppliers

The competition authority approved the purchase of Ovo Energy by E. ON Next, allowing the deal to finish on Thursday. The approval comes despite worries that the reduction in the number of household energy suppliers could reduce consumer choice and lower the pressure on suppliers to cut prices. The move leaves almost three‑quarters of British households served by only three energy companies.

Competition watchdog clears takeover despite concerns that suppliers will have less incentive to lower bills Almost three-quarters of households in Great Britain are now served by just three energy suppliers, after E. ON Next completed a deal to buy Ovo Energy despite fresh concerns about competition in the energy market. The takeover concluded on Thursday after Britain’s competition watchdog cleared it, despite concerns that the shrinking number of household energy suppliers could mean billpayers will have less choice and suppliers will have less incentive to lower bills.

Summarised by Agaah from The Guardian Business. Agaah aggregates 36 sources and removes duplicate coverage — all news, one place.