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Search Results: 1. Media Centre - OVO Group URL: https://company.ovo.com/newsroom/ Date: 2025-09-24 Snippet: Featured OVO launches Extra Support Package worth £56m for customers this winter OVO Energy Featured A social tariff for energy could lift millions out of fuel poverty, new research suggests OVO Energy Featured WATT A PRIZE: OVO is making two customers Clubcard Points Millionaires with Tesco. Enter now!... OVO Energy Awards OVO Energy OVO Foundation 5 Nov 25 OVO appoints new CEO, Chris Houghton, to lead its retail business OVO Energy 24 Oct 25 ‘Set and forget’ eases grid strain and keeps consumers cosy, study shows OVO Energy... 17 Oct 25 OVO and Havenwise launch heat pump trial to make home heating smarter and more affordable OVO Energy 1 Oct 25 OVO’s £56 million Extra Support Package is now open OVO Energy 30 Sep 25 OVO Group powers forward to accelerate the global energy transition... OVO Energy 26 Sep 25 We need a social tariff to avoid a winter emergency every year OVO Energy 24 Sep 25 Drive for just £27.50 per month: OVO launching UK’s first home and public EV charging subscription OVO Energy 18 Sep 25 OVO launches Extra Support Package worth £56m for customers this winter... OVO Energy 8 Sep 25 UK FIRST: OVO makes EV charging easier than ever with the launch of all-in-one Charge app OVO Energy 2 Sep 25 A social tariff for energy could lift millions out of fuel poverty, new research suggests OVO Energy 1 Sep 25... WATT A PRIZE: OVO is making two customers Clubcard Points Millionaires with Tesco. Enter now! OVO Energy 29 Aug 25 Under 35s are nearly three times more likely to know where their pension is invested OVO Energy More posts Have any questions? Get in touch Search Press enter or esc to cancel 2. Government welcomes potential new UK green energy generation powerhouse OVO Renewables - OVO Group URL: https://company.ovo.com/government-welcomes-potential-new-uk-green-energy-generation-powerhouse-ovo-renewables/ Date: 2025-07-17 Snippet: **Energy pioneer OVO plans to accelerate Britain’s energy transition with proposed new business arm overseeing generating assets.** **Initial investment worth hundreds of millions of pounds poised to repower existing UK onshore wind farms, generating cheaper, greener, homegrown energy.** **New polling shows that repowered wind farms are the most publicly supported route to deliver green energy, with 84% of consumers in favour of the upgrades.**... **London, Thursday 17th July 2025: ** OVO today announces the proposed launch of OVO Renewables, a major new arm of the business that could see OVO move into energy generation for the first time. With an initial investment of hundreds of millions of pounds, OVO Renewables plans to repower the UK’s existing onshore wind farms, improving them with modern technology which extends their lifespan and boosts output. The move would cut the queue on infrastructure planning, bringing green energy to millions of customers faster and directly support Britain’s journey to cleaner, cheaper, and more secure energy.... As global energy markets remain volatile, OVO Renewables has the potential to deliver more homegrown, reliable power for UK households with the first phase delivering up to c.500MW of capacity, enough to supply apporox 400,000 homes; directly contributing to the Government’s 30GW target under the 2030 Clean Power Action Plan.... New polling commissioned by OVO shows that repowered wind farms are far more acceptable to communities than either the original turbines or new developments on greenfield land. While just 60% of the public would support a new wind farm built on undeveloped land nearby, support jumps to 81% for upgrades to existing sites, and rises to 84% when people are told that newer turbines are quieter, more efficient, and require fewer turbines.... OVO would be supported in the new venture by sister company Kaluza, the leading energy technology platform. In the future, OVO Renewables could provide green energy directly to nearby communities, ensuring local households benefit directly from renewable power generated on their doorstep. Subject to necessary approvals, OVO Renewables plans to work in partnership with NextLife Energy – a specialist UK renewable energy investor and developer, to source, acquire, manage and redevelop onshore wind projects across the UK.... **David Buttress, CEO of OVO, said:** “Britain built some of the world’s first onshore wind farms, but many are now aging fast. We’re creating a huge opportunity to unlock more clean, secure energy, without the delays that come with building new sites. OVO Renewables has the potential to breathe new life into Britain’s green power infrastructure, delivering real benefits to customers and communities.”... **Energy Minister Michael Shanks said:** “This is a hugely exciting new venture from OVO, showcasing how the public and private sector are working in lock step to end our reliance on unstable global gas markets with homegrown, clean power we control. “Repowering existing wind farms will be a key part of how we build a cheaper, cleaner, more secure energy system, creating jobs across the country and driving forward our mission to bring bills down for good.”... **Lord Smith of Kelvin, Chair of NextLife Energy, said:** **“**NextLife Energy is looking at generation assets differently. Acquiring mid-life projects with the potential to repower means important generation capacity is not retired from our UK network. The launch of OVO Renewables and the partnership with NextLife Energy draws on a number of previous experiences and is an exciting opportunity for both businesses.” **ENDS** 3. OVO Energy announces plans to launch generation arm URL: https://www.solarpowerportal.co.uk/solar-investment/ovo-energy-announces-plans-to-launch-generation-arm Date: 2025-07-28 Snippet: ## Large Scale Solar Central Eastern Europe 2025 25 November - 26 November 2025 / Warsaw, Poland Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.Read More 4. Who do I contact if I have an Energy Experts query? URL: https://www.ovoenergy.com Date: 2025-01-01 Snippet: **The energy price cap is changing from 1 January. ** Find out how it impacts you. Learn more. Exclusive ticket access for all our customers at OVO Arena Wembley, OVO Hydro, The O2 arena and Co-op Live. **Because atmosphere is everything.** There’s so much up for grabs just for being an OVO customer.... 1 For up to 12 months. Terms and eligibility criteria apply. Not available on all plans. Offer ends 4 December. Save £100s a year on your charging bill with our new monthly plans. Miles simpler Take charge of your energy and earn up to 5 solar panels with Beyond. The longer you're with us, the more you get. Exclusive ticket access for all our customers at OVO Arena Wembley, OVO Hydro, The O2 arena and Co-op Live. **Because atmosphere is everything.** There’s so much up for grabs just for being an OVO customer. 1... #### Check my latest bill Login to find all the details of your latest energy bill, balance and usage. #### Moving home? Let us know where you’re going, and we’ll do the rest. #### Switch to OVO Join us on the path to energy that’s better for you, your wallet, and the planet. #### Submit meter reading Login to enter your latest reading and keep your bill accurate. Terms and eligibility apply. A year’s free energy is set at a maximum credit of £2,000. 8,750 chances to collect points every week until 25 Jan. See full terms.... ## What people say about OVO Energy ### Charge Anytime Smart charge your car at home with our free add-on, Charge Anytime, and save up to £553 a year. 5 ### Beyond Unlock offers today, while you earn greener rewards for tomorrow. 1 It’s our way of saying thanks for being with us.... ### Solar panels Save up to 85% on your electricity use 6 when you get solar panels and a battery from OVO. Here’s how we’re making energy better for people and the planet. ### Loyalty that pays off Our free rewards programme rewards you just for being with us 1. Join thousands of customers on Beyond.... ### Big prizes for small changes With Power Move, you get the chance to win a year’s free energy – just by using electricity at greener times of the day. ### Growing a greener future We’ve planted 5 million trees in schools and communities across the country, on behalf of our customers.OVO Guides You’ll find everything you need to know about all things energy. Whether it’s ways to use less, smart meter tips, or info on the latest tech.Home & Heating... ### Home and heating ### Energy ### Home & Heating ### Energy ### Smart home ### Home & Heating ### Home & Heating ### Home and heating ### Energy ### Home & Heating ### Energy ### Smart home ### Home & Heating ### Home & Heating ### Home and heating ### Energy ### Home & Heating ### Energy ### Smart home ### Home & Heating... ## Important Information 1 See full Beyond terms here and all Beyond offer terms here. All offers are subject to availability and OVO reserves the right to replace or amend the range and value of available offers at any time. Solar panels offer: The 5 free solar panels offer is only available to OVO customers who also have solar panels and a battery installed with OVO.... Solar panels are redeemable as a discount worth up to £500 when the customer buys a OVO solar installation and battery package. An average sized house requires 10 solar panels. Panels may be accrued over a 2 year period and redeemed anytime with either the 2 year accrual period or the 3 years following.... Subject to availability. Discount is based on current hardware costs. Terms and eligibility criteria apply. Free electric miles offer: Earn up to 2,400 free EV miles over 2 years to redeem when you join Charge Anytime. Free miles can be redeemed at anytime during the 2 year accrual period or within 3 years thereafter. Compatible EV/charger is required for Charge Anytime. New Charge Anytime customers only. Free miles are payable as a credit to your energy account. Actual free miles may vary depending on the type of vehicle, vehicle efficiency, and driving style. Terms and eligibility apply. See full terms and conditions.... 2 Terms and eligibility apply. See full Beyond terms __here__ and all Beyond offer terms __here__. All offers are subject to availability and OVO reserves the right to replace or amend the range and value of available offers at any time. Beyond allows eligible customers to accrue the value of up to 5 solar panels over two years. Approximate accrual rate of the value of one solar panel per 4 month period.... Redeemable when a customer purchases an OVO solar panel and battery package within the accrual period or up to three years after. Must be redeemed in one go. Value of the amount of solar panels accrued by the time of redemption will be applied as a discount to your total solar panel and battery package up to a maximum redemption value of £500. Terms and eligibility criteria apply. For more details see __here__.... 3 Home Recover: Offer not available for CORGI HomePlan / OVO boiler cover customers who have had a plan in the last 30 days. To be eligible for this offer you must meet the boiler cover eligibility criteria set out during sign up. Offer expires 26/03/2026.... 4 Fixed energy prices and greener electricity: Our 1 Year Fixed + Greener Electricity tariff includes our Greener Electricity upgrade, which brings you 100% renewable electricity from traceable sources. While the electricity that powers your home comes from a mix of sources, we buy the same amount of renewable electricity to balance this all out. So for all the electricity you use, we’ll feed the same amount back into the grid from green sources.... 5 Actual sum is £553.35. When you add Charge Anytime to your plan, your home energy rate will stay the same, but the energy consumed by your EV will be charged at an effective rate of 7p per kWh when EV smart charging (thanks to payment of your Charge Anytime charging credit). The £553.35 saving is based on an average Charge Anytime customer using 3100kWh a year to charge their EV using the Charge Anytime add on.... The Charge Anytime rate on 01/01/2025 is 7p per kWh for Charge Anytime charging compared to the OVO’s UK average SVT rate of 24.85p per kWh. Actual savings will vary depending on vehicle efficiency, driving style, EV charging usage and the cost per kWh of your standard home energy tariff.... 6 These annual energy savings are dependent on your property type and location, roof type, slope and size. If your roof is shaded or isn't south facing, figures are likely to be lower. We based the figure on the following: a) You have 12 (440W) solar panels and a 9.5 kWh battery installed b) You’re home all day with an annual electricity consumption of 2,700 kWh (Ofgem).... You currently pay our Standard Variable Rate of 27.30p (correct at 1 April 2025) and will use 51% of what you generate c) You sign up for our exclusive SEG rate (20p kWh) for customers who purchase solar and a battery from us, and you sell back the remaining 49% of energy generated. You’ll get a more accurate savings estimation once we’ve surveyed your property. 5. OVO Blog URL: https://www.ovoenergy.com/blog Date: 2025-04-23 Snippet: # OVO Blog Get expert advice straight from OVO on all things energy, including solar, electric vehicles, and tips for being energy efficient.BlogMoving Home... ## OVO moving house checklist: make moving easier whilst reducing your carbon 23 April 2025 OVOBlogBlog ### Keep your home cool this summer 23 April 2025 OVOBlogSolar ### The top 5 things to consider when going solar at home 3 March 2025 OVOBlogEnergy... ### Music icons Jessie Ware and Clara Amfo share the stage to celebrate OVO Beyond 16 August 2024 OVOBlogSolar ### A guide to using the energy made by solar panels 9 April 2024 OVOBlogSolar ### How solar panels could increase the value of your home 9 April 2024 OVOBlogBlog ### There’s a better way to do energy 18 April 2023 OVO 6. Struggling energy supplier Ovo to axe hundreds of jobs URL: https://news.sky.com/story/struggling-energy-supplier-ovo-to-axe-hundreds-of-jobs-13473990 Date: 2025-11-22 Snippet: Ovo Energy, one of Britain's biggest domestic gas and electricity suppliers, is preparing to take an axe to its workforce next week as part of efforts to convince regulators that it has a viable turnaround plan. Sky News has learnt that Ovo, which serves about four million customers across the UK, is drawing up proposals to cut hundreds of jobs as early as Wednesday in a bid to save millions of pounds in costs.... The redundancies - the precise scale of which could not be ascertained this weekend - are said to form part of a revised business plan submitted to Ofgem, the energy watchdog, which is focused on boosting the company's profitability. That plan is likely to include restrictions on taking on new customers while Ovo's finances are placed on a sustainable footing, according to industry sources.... One insider suggested that "several hundred" jobs would be lost next week, although a spokeswoman for the company declined to quantify either the scale of the cuts or the size of Ovo's existing workforce. The redundancies will come less than a month after Ovo's chief executive, David Buttress, stepped down in the middle of a search for investors willing to pump hundreds of millions of pounds into the company.... Mr Buttress, the former Just Eat chief who served a brief period as Boris Johnson's cost-of-living tsar, has been replaced by Chris Houghton, a former Ovo boss who worked alongside its founder, Stephen Fitzpatrick. Former Virgin Money chief Dame Jayne-Anne Gadhia was recently named chair of Ovo's retail energy arm.... Ovo's customer base places it behind Octopus Energy and Centrica-owned British Gas in the household energy supply market, but it remains one of the most important companies in the sector. Its quest to raise roughly £300m of new equity has been ongoing for months, with bankers at Rothschild engaging in talks with numerous financial investors.... Last month, Sky News revealed that a Norwegian investment group had abandoned talks about an investment amid concern that the industry's regulatory regime is obstructing efforts to attract new capital. Verdane, which is based in Oslo, had been in detailed talks as recently as this month about injecting a substantial sum into Ovo in return for a large stake in the business, while Iberdrola, the owner of Scottish Power, has also held tentative discussions about a possible tie-up.... Investor uncertainty has been heightened by the energy regulator Ofgem's capital adequacy rules, with Ovo acknowledging recently that it - alongside larger rival Octopus Energy - had yet to fully comply with the regime, saying: "We have taken proactive measures to align with Ofgem's new capital rules, working constructively to meet the requirements."... Sky News reported this month that Ovo was not technically in breach of the capital adequacy regime because it had agreed a route with Ofgem to fulfilling its obligations. Ovo, which is backed by investors including Japan's Mitsubishi and the London-based investor Mayfair Equity Partners, disclosed in accounts published recently that there was "material uncertainty" over its future.... The company has separately engaged advisers at Arma Partners to explore the sale of a stake in Kaluza, its software arm, echoing a similar move by Octopus Energy's Kraken division. Alongside Mr Fitzpatrick, the entrepreneur who now owns London's Kensington Roof Gardens, Ovo's other shareholders include Morgan Stanley Investment Management.... Launched in 2009, the company positioned itself as a challenger brand offering superior service to the industry's established players. Ovo's transformational moment came in 2020, when it bought the retail supply arm of SSE, transforming it overnight into one of Britain's leading energy companies. Its growth has not been without difficulties, however, particularly in relation to its challenged relationship with Ofgem and a torrent of customer complaints about overcharging. 7. Ovo URL: https://electricityinfo.org/news/ovo-9/ Date: 2025-11-10 Snippet: Ovo Energy is preparing to slash tens of millions of pounds in costs under a radical plan to secure its survival. In a bid to convince the regulator of its financial viability, Britain’s fourth-largest gas and electricity supplier is plotting deep spending cuts to areas including advertising and brand building activities. The cuts come as Stephen Fitzpatrick, Ovo’s founder, scrambles to meet tougher financial rules imposed by Ofgem.... Under the energy regulator’s new regime, introduced after dozens of suppliers collapsed during the energy crisis in 2022, Britain’s biggest suppliers are required to hold a certain level of cash based on how many customers they have. For Ovo, which serves four million customers, this means a bill amounting to hundreds of millions of pounds. The burden of the energy regulator’s rules has been blamed for disrupting Ovo’s attempts to raise £300m in new investment.... *Telegraph 9th Nov 2025* read more » One of Britain’s largest energy providers has been given breathing space so that it can comply with regulations that are intended to prevent a repeat of the wave of failures in the sector that occurred after Russia’s invasion of Ukraine in 2022. Ofgem, the energy watchdog, has given Ovo more time to build up its capital buffer so long as the company marks out clear steps that will show its progress towards the objective. *Times 9th Nov 2025* read more » 8. Energy market competition URL: https://en.wikipedia.org/wiki/OVO_Energy Date: 2009-11-13 Snippet: **OVO Energy** is an energy supplier based in Bristol, England. It was founded by Stephen Fitzpatrick and began trading energy in September 2009, buying and selling electricity and gas to supply domestic properties throughout the UK. By June 2017 OVO had 680,000 customers, an increase of 10,000 over the previous year, representing a 2.5% domestic market share.... In November 2018, OVO Energy acquired one of its largest competitors, Spark Energy. Although at first one of over 15 smaller energy companies competing with the Big Six which dominated the market, in January 2020 OVO completed the acquisition of the retail arm of SSE, becoming the country's third-largest domestic energy supply company.... ## History OVO Energy is British-owned and privately backed, with its headquarters in Bristol. The company has supplied gas and electricity to domestic customers since 2009. This sector of the UK economy has in the past been dominated by a number of large companies known as the Big Six. In June 2025, it was reported that OVO Energy and Iberdrola (the owner of Scottish Power) were in exploratory talks about a merger.... ## OVO Foundation OVO’s charity arm, OVO Foundation, was founded in 2014 and supports climate action and education in schools across the UK and communities internationally. ## Energy and Renewables OVO’s aim is to move away from gas and help create an energy system driven entirely by renewable generation to decarbonise homes and power them with renewable energy. It partnered with multiple both large and small-scale renewable generators, including: Orsted [2021], Ambition Community Energy, Genatec, St Fergus Energy Park and Atrato Onsite Energy plc [2023].... ## Sustainability Plan Zero is OVO’s response to the climate crisis. The three areas of focus include: Climate, Customers, and Culture. It outlines OVO's path to decarbonisation with a 2035 net-zero target. Since 2018, OVO has seen an over 50% reduction in operational emissions. OVO has committed to limiting its carbon offsetting to just 10% of its total emissions.... ## Electricity Electricity supplied by OVO Energy comes directly to homes from the National Grid. As with all electricity this means it comes from various sources like wind, solar, natural gas and nuclear. In 2023 OVO stopped selling 100% renewable energy tariffs purely backed by renewable energy certificates known as REGOs OVO provides an add-on that allows customers to get 100% renewable electricity backed by power purchase agreements. OVO's "pay as you go" product has been branded as Boost since 2017. After taking on customers from Economy Energy in 2019, the brand had around 350,000 customers.... ## Gas OVO Energy sources its gas from the national grid. The majority of the UK's gas is sourced from the North Sea; the rest comes from Norway, Continental Europe and some from further afield. Increasingly, gas is imported as liquefied natural gas (LNG), natural gas cooled to about −165 °C (−265 °F) and compressed to make it easier to transport.... ## Solar OVO launched OVO Solar in 2023. This offered customers solar photovoltaic (PV) panels, batteries, inverters and a Smart Export Guarantee (SEG) rate.... ## Products OVO energy provides numerous schemes and products to its customers. These include: Power Move: This challenges customers to move their non-essential electricity to a different time of day, and only use 12.50% or less of your electricity during peak hours of 4pm to 7pm, Monday to Friday. It allows customers to earn money off their energy bill when they complete this challenge.... Heat Pumps: Working in partnership with Heat Geek, OVO are offering Heat Pump Plus - this gives customers a rate of 15p per kWh, a cheaper alternative to gas boilers. Corgi: In 2017 CORGI HomePlan became part of the OVO group. They’re a boiler and home emergency provider in the UK, that currently provide their services to more than 165,000 customers.... OVO Beyond: This is an exclusive app for OVO customers, allowing them to manage their energy and get personalised tips, exclusive offers and advice. Charge Anytime: This allows customers to charge their EV from their home, accessing lower rates than they would in public (by charging your car at the cheapest times possible).... ## Acquisitions and stakeholders In November 2018, OVO acquired one of its rivals, Spark Energy, after the troubled supplier ceased trading. The acquisition included a subsidiary, Home Telecom Limited, which specialises in providing telephone and broadband services to tenants of private landlords.... In September 2019, OVO agreed to pay £500 million for SSE Energy Services, the retail business of SSE plc, and the purchase – which included SSE's 8,000 employees and their phone, broadband and heating insurance customers – was completed in January 2020. This made OVO the UK's second-largest energy supply company (after British Gas) with around 5 million customers.... OVO stated that the SSE brand would continue for the time being. SSE had earlier intended to merge the business with Innogy's subsidiary Npower, but this was called off in December 2018. Following OVO Energy's takeover of SSE, numerous reports of incorrect and inflated bills were reported by former SSE consumers who had their accounts transferred to OVO Energy. In February 2019, Mitsubishi Corporation bought a 20 percent stake in OVO, valuing the company at £1bn.... ## Energy market competition The entry of OVO into the UK supply market in 2009 was welcomed as it increased competition in a market that had been criticised for high prices. In October 2013, OVO's Founder Stephen Fitzpatrick appeared at the Energy and Climate Change Select Committee, when energy companies were asked to justify recent gas and electricity price rises. Fitzpatrick explained to the committee that the 'wholesale gas price had actually got cheaper', contrary to the Big Six energy suppliers' assertions that international global prices of gas and electricity had consistently risen.... Following the collapse of Economy Energy in January 2019, regulator Ofgem announced that OVO Energy would take on Economy Energy's 235,000 customers.... ## Sponsorship In 2016, OVO sponsored the Bristol leg of the Tour of Britain cycling race. In 2017, the company began sponsoring both The Women's Tour and the Tour of Britain, the longest cycle stage races taking place in the UK. In March 2018, OVO announced they would begin providing equal prize money for both tours. They are no longer sponsoring either race as of 2021.... In October 2021, OVO Energy took over sponsorship of Glasgow's entertainment and multi-purpose indoor arena, which was rebranded as the OVO Hydro. OVO Live allows customers to get access to ticket presales, VIP queue-jump entry, and VIP lounges at OVO Hydro Glasgow and OVO Arena Wembley.... ## Management Stacey Cartwright was appointed as chair of the retail board at OVO Energy in April 2020. She holds other directorships including at Savills, Genpact and the Football Association, and was deputy chair at retailer Harvey Nichols. Non-executive directors include Jonson Cox, chair of water regulator Ofwat.... ## Regulator action Since 2020, OVO Energy has remained susceptible to regulatory action, largely due to issues such as unlawful overcharging and sub-par customer service. In January 2020, OVO Energy agreed to pay £8.9m into Ofgem's voluntary redress fund, after an investigation by Ofgem found instances of undercharging and overcharging, and inaccurate annual statements sent to more than half a million customers between 2015 and 2018. Head of Ofgem enforcement, Anthony Pygram, said "The supplier did not prioritise putting these issues right whilst its business was expanding."... In March 2021, as part of a wider investigation into price protection failings by energy suppliers, OVO's practices were found to have caused detriment to 240,563 customers totalling over £2m, and the company was required to pay redress of over £2.8m – the highest amount of compensation among the 18 companies investigated.... Overcharging of consumers was reported several times in 2022. In May 2023, Ofgem found that OVO had charged almost 11,000 customers more than the maximum allowed under the Energy Price Guarantee scheme. The company was required to refund and compensate those customers, the average amount being £181 per customer; and to pay £10,000 into Ofgem's redress fund.... In 2022, OVO Energy was ranked second worst (only behind Utilita) in customer service by Citizens Advice. In 2024, multiple widespread reports of customers not getting any cash back when asking for credit refunds prompted Martin Lewis to sound off a public warning on OVO Energy. ## References ## External links - Official website Categories: - Electric power companies of the United Kingdom - Utilities of the United Kingdom - Companies based in Bristol 9. Ovo Energy to Cut Hundreds of Jobs Amid Challenges URL: https://businessbosses.news/ovo-energy-to-cut-hundreds-of-jobs-amid-challenges/ Date: 2025-11-22 Snippet: # Ovo Energy Plans Job Cuts Amid Financial Restructuring Efforts ## Overview of Ovo Energy’s Proposed Changes Ovo Energy, one of the largest suppliers of domestic gas and electricity in the UK, is set to implement significant workforce reductions as part of a strategy to secure its financial future. The company, which serves approximately four million customers, is preparing to announce hundreds of job cuts as early as Wednesday in an effort to streamline operations and save costs.... ### Challenges Facing Ovo Energy As Ovo looks to convince regulators of its viability, the pending layoffs are part of a revised business plan submitted to Ofgem, the UK energy regulator. This plan aims to enhance profitability while likely imposing restrictions on the acquisition of new customers until the company becomes financially stable. Reports suggest that the job losses could number in the "several hundred" range, although official confirmation regarding the exact figures is pending. A spokesperson for Ovo has refrained from discussing the specifics of the workforce size or the impending cuts.... ## Leadership Changes Amidst Financial Struggles These workforce reductions come shortly after the resignation of Ovo’s CEO, David Buttress. His departure occurred amid ongoing efforts to secure substantial investment to the tune of £300 million. The new leadership, under Chris Houghton—a former Ovo leader who collaborated with founder Stephen Fitzpatrick—aims to navigate the company through these turbulent times. Additionally, the appointment of Dame Jayne-Anne Gadhia, the former CEO of Virgin Money, as chair of Ovo’s retail energy division marks another significant change in the company’s leadership structure.... ### Financial Investments and Industry Challenges Ovo is currently working with Rothschild’s advisory team to attract new financial investors, although it recently faced setbacks when a Norwegian investment group, Verdane, pulled out of discussions. These challenges have been linked to regulatory concerns surrounding Ofgem’s capital adequacy rules, which have created uncertainties for companies in the energy sector. Despite these difficulties, Ovo has stated that it is not technically in breach of these regulations, having established a pathway to compliance with Ofgem.... ## Equity and Investment Strategies The quest for new equity remains critical to Ovo’s plans. The company, backed by notable investors such as Japan’s Mitsubishi and Mayfair Equity Partners, has disclosed issues related to "material uncertainty" regarding its future. Ovo is also exploring the potential sale of a stake in Kaluza, its software division, which parallels strategies employed by competitors like Octopus Energy.... ### The Evolution of Ovo Energy Founded in 2009, Ovo positioned itself as a challenger brand with a customer-centric approach, striving to offer superior service compared to established players in the market. Its transformative acquisition of the retail supply arm of SSE in 2020 propelled it into the forefront of the industry. However, this rapid growth has not been without challenges, including a fraught relationship with Ofgem and ongoing issues related to customer complaints.... ## Conclusion As Ovo Energy initiates significant workforce reductions amidst a financial restructuring plan, the future of the company remains uncertain. Industry stakeholders and customers will be closely monitoring the outcomes of these strategic decisions, as Ovo aims to stabilize its operations and regain investor confidence in a highly competitive landscape. For more information on Ovo Energy and its operations, visit the official Ovo Energy website and follow the latest developments in the energy market. Stay updated on industry trends and analysis through resources like Sky News and Ofgem, which provide critical insights into the evolving energy sector. 10. OVO Energy joins National Grid ESO's demand flexibility service URL: https://www.solarpowerportal.co.uk/solar-projects/ovo-energy-joins-national-grid-eso-s-demand-flexibility-service Date: 2025-07-28 Snippet: ## Large Scale Solar Central Eastern Europe 2025 25 November - 26 November 2025 / Warsaw, Poland Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.Read More

OVO Energy