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SSE Broadband and Energy Customers Now Owned by Ovo UK

Wednesday, January 15th, 2020 (2:21 pm) - Score 2,270

Millions of SSE’s retail energy, broadband ISP and home phone customers have today officially become part of Ovo after the company completed its £500m acquisition. Initially nothing is expected to change for SSE’s customers, although over time there may be more differences.

Just to recap. Ovo has acquired SSE’s GB household energy and broadband business for £500 million, comprising £400 million in cash and £100 million in loan notes (the SSE Enterprise Telecoms business is separate). Together, the companies serve almost 5 million households across the UK.

According to Ovo, SSE’s business is now owned by them, although customer payments and tariffs won’t change. Likewise broadband customers will continue to be supplied by SSE, at least for now. “SSE customers don’t need to do anything, but if they have any questions, they can head to SSE’s FAQs here,” said Ovo. On the flip side “absolutely nothing changes” for Ovo’s existing customers.

Stephen Fitzpatrick, CEO and Founder of OVO, said:

“Today is an exciting day. It marks the end of one chapter for OVO but, more importantly, the beginning of the next one together with SSE Energy Services. We started OVO with a bold ambition to do better for customers and have stayed true to that vision ever since.

We have an integration plan that leaders from both companies have collaborated on since September. There is a lot of work to do to bring the two businesses together, but we have a really strong combination of great talent, technology and customer centricity that will enable us to succeed.

SSE’s history of excellence at scale combined with OVO’s innovative technology and our Plan Zero commitments mean that together, as one team, we can bring millions more people with us on our journey towards zero carbon living.”

End.

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