The Competition and Markets Authority (CMA) has opened a statutory merger investigation into Ovo’s pland to acquire the supply business of SSE. The merger would make it the UK’s second largest energy supplier and CMA is required to consider whether it ”may be expected to result in a substantial lessening of competition within any market or markets in the United Kingdom for goods or services”. It asked for comments by 6 November.
Currently, the CMA is expected to decide whether to open a Phase Two investigation by 18 December.
Follow the investigation here
Further reading
Editor’s blog The long read: How I helped break the power of the Big Six
Ovo takes stake in PPA platform Renewable Exchange
Ovo aims to halve customers’ carbon footprint by 2030, offer heat pumps to replace gas boilers
Ovo Energy to acquire SSE’s household energy and service customers
SSE and Npower and the failed merger: devil in the detail