SSE gets green light to sell 3.5m customers and staff to Ovo Energy – what it means for you

ENERGY provider SSE has been given the go-ahead to sell the household supply part of its business to smaller rival Ovo Energy.

The deal, which was approved by the competitions watchdog this morning, will see 3.5million customers moved to a new supplier by early 2020.

 SSE has been given the green light to sell part of its business to Ovo Energy


SSE has been given the green light to sell part of its business to Ovo EnergyCredit: PA:Press Association

As well as this, 8,000 members of staff will be switched to Ovo.

Ovo will pay £500million for the business and expects to complete the sale by January 2020.

The move was given the green light by the Competition and Marketing Authority (CMA) today after the watchdog confirmed it wouldn’t be continuing its investigation.

It means Scottish and Southern Energy (SSE) will no longer be one of the Big Six suppliers after the deal is completed.

How to save money by switching energy suppliers

SWITCHING energy suppliers can benefit your purse strings and doesn’t need to be a stressful process. Here’s how to do it.

Shop around: Use a comparion site like or to see the best deals that are available to you.

The cheapest deals are usually found online and are fixed deals – meaning you’ll pay a fixed amount often for 12 months.

Switch: When you’ve found one, all you have to do is contact the new supplier.

It helps to have the following information – which you can find on your bill:

  • Your postcode
  • Name of your existing supplier
  • Name of your existing deal and how much you pay
  • An up-to-date meter reading
READ  Rate-cut euphoria elevates S&P 500 to record high

It will then notify your current supplier and begin the switch.

It should take no longer than three weeks to complete the switch and your supply won’t be interrupted in that time.

Switching to a cheaper supplier could cut your bill by up to £300 a year, but the amount you pay varies depending on where you live and how much energy you use.

Instead, Ovo will join the likes of British Gas, EDF Energy, nPower, E.ON UK and Scottish Power as one of the biggest energy providers in the UK.

It comes after SSE was forced to scrap its plan to merge with nPower over fears their deal could push up energy costs for customers.

SSE was also fined £700,000 by industry watchdog Ofgem in April for missing last year’s target to install gas smart meters for customers.

Households with SSE won’t need to do anything during the transition period, as their contracts will be honoured by Ovo.

But they will be contacted by Ovo when their contract is up to be offered a new deal.

Ovo will operate under the SSE brand at first, before eventually being “carefully” phased under the smaller firm’s name and logo.

Sponsored Content: How to save £268 a year off your energy bills

BEAT energy price rises year after year with Switchcraft. It’s free and it could save you an average of £268 a year.

  • Sign up, easily compare tariffs and switch
  • Once you sign up, Switchcraft will automatically find you a cheaper deal when a better tariff comes up, saving you time, hassle and money.
  • It takes just 3 minutes. That’s it!
  • Click here to get saving!
  • News UK has a brand partnership with Switchcraft.
READ  Coronavirus: Insurance companies pause dividend payments

Ovo, which is the UK’s largest independent supplier, has around 1.5million customers and 2,000 employees.

While SSE has 5.8million active customer accounts and 20,000 members of staff.

Stephen Fitzpatrick, CEO and Founder of OVO, said: “We’re delighted with the CMA’s decision and look forward to bringing SSE into the Ovo family.

“There is a lot of work to be done, but we’re excited about the challenge ahead and the opportunity to help even more customers on the journey to zero carbon.”

Alistair Phillips-Davies, CEO of SSE, said: “Completion of the transaction will give SSE plc even sharper focus to delivering the low-carbon infrastructure needed to help the UK reach net zero emissions.

“We have a clear strategy around developing, operating and owning renewable energy and electricity network assets, along with growing businesses complementary to this core.”

Worryingly, energy bills are on the rise as big firms look to pass on the £255million cost of taking on customers from failed suppliers.

READ  Coronavirus: 'Switch from building cars to ventilators'

Research by Which? found that more than 250,000 Brits were hit by price hikes after their energy suppliers went bust.

Now, homeowners without smart meters face a massive energy bill hike too, a minister has warned.

SSE to push up energy bills by 6.7 per cent for MILLIONS of customers – adding £76 a year to bills


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.