Home Business News UK energy provider Ovo acquires collapsed rival Spark’s customers

UK energy provider Ovo acquires collapsed rival Spark’s customers

by LLB Reporter
28th Nov 18 8:28 am

Ofgem has appointed Ovo Energy to take on Spark Energy Supply Ltd’s 290,000 domestic customers. This follows a competitive process run by Ofgem to get the best deal possible for the customers of Spark Energy Supply Ltd, which announced it was ceasing to be a supplier on Friday 23 November.

Separately, Ovo Energy has acquired Spark Energy’s operating company Spark Energy Ltd and retained the Spark Energy brand.

Energy will be supplied under Ovo Energy’s supply licence.

As Ovo Energy has acquired the Spark brand and operating company, customers will continue to be billed by Spark and be contacted by Spark’s customer service staff.

Spark Energy’s customers will stay on the same tariffs and all outstanding credit balances will be honoured, including money owed to both existing and former customers of Spark Energy.

For existing customers, energy supplies will continue as normal and any credit on their account can be used to offset future energy use.

Customers of Spark Energy will be contacted over the coming days about the changes. At that point, if customers wish to change their tariff or switch supplier, they should ask to be switched to another Ovo Energy tariff, or shop around.

Customers will not be charged exit fees if they decide to switch to another supplier.

Mary Starks, Ofgem’s Executive Director for Consumers and Markets, said: “I am pleased we have appointed Ovo Energy, and that Spark Energy’s customers will be offered the same tariffs they are already on. Their credit balances will be honoured and their energy supply will continue as normal.

“Ovo Energy, under the Spark Energy brand, will be in contact with customers over the coming days with further information. Once the transfer has been completed, customers can shop around for a better deal if they wish to.”

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