The Competition and Markets Authority (CMA) stated it was looking into whether Ovo Energy’s £500m acquisition of energy supplier SSE’s retail arm will harm competition. SSE’s retail energy business supplies around 3.5m households in the UK.
The watchdog said it was inviting comments on the transaction from interested parties until 6 November.
Alistair Phillips-Davies, SSE chief executive, said: “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. OVO shares our relentless focus on customer service and has a bold vision for how technology can reshape the future of the industry. I’m confident that this is the best outcome for the SSE Energy Services business and customers.”
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