The UK’s competition watchdog has approved the sale of big six energy supplier SSE’s household energy business to Ovo Energy, meaning 3.5 million SSE customers are set to be moved over to Ovo after January 2020.
In September, Ovo announced plans to buy SSE for £500 million US$659.7 million), bringing its total customer base to five million. And the sale has now been approved by the Competition and Markets Authority (CMA), and is expected to complete in January 2020.
Ovo stated there will be no changes for its existing customers as a result of the sale and the two companies will continue to operate separately until January 2020.
Beyond January, Ovo stated it will carefully plan how to move SSE customers on to Ovo’s systems. It says this will be a “gradual process,” and that there won’t be any interruption to service or changes to tariffs.
Full Content: Sharecast
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI