SSE discussing major sale with OVO Energy
OVO Energy may become second-largest energy supplier after British Gas
Big Six energy firm SSE, which currently supplies 5.7 million households, is currently in talks with OVO Energy to finalise a significant sale of its energy retail division.
In the event that the deal is successfully brokered, OVO will amass 7.2 million customers, making it the second-largest energy supplier in the UK. This is just behind British Gas, which currently supplies 12 million households.
Victoria Arrington, a spokesperson for energyhelpline, said: “This is huge news for the UK energy sector, as it has the potential to change the face of the Big Six. This could be a historic shift in this volatile market, but also may result in a mandatory supplier change for some households
OVO Energy currently has 1.5 million customers and since it was founded in 2009, it has taken on 500,000 customers from small energy firms Spark and Economy Energy, both of which have ceased trading.
With a 5 per cent share of the market, OVO is currently the seventh-largest energy firm in Britain.
What could this mean for SSE customers?
Current SSE customers will have their household energy contract transferred to OVO Energy, and they will be informed of the details of this change as soon as possible.
As for tariffs, SSE customers will likely be put onto a default tariff once their contracts are taken over by OVO; that is if they take no action to either select a different tariff or switch suppliers altogether.
“Thankfully, OVO and SSE both have high service ratings. However, act smart and always seek out the tariff that is right for you – even if that means switching suppliers. It’s quick and easy, and with over 70 suppliers in the UK market, there are plenty of competitive deals out there, so it pays to look around and check out your best options.”