E.On to buy rival Ovo to create UK energy supply giant

Ovo has insisted it is “committed” to meeting financial resilience rules set by the industry watchdog after its accounts warned about a “material uncertainty” over its future following its failure to meet the targets. (Alamy/PA) -

German energy firm E.On has agreed to buy rival Ovo in a deal which would create Britain’s largest supplier.

The combined business will serve about 9.6 million customers, surpassing current top supplier Octopus.