An investigation into German energy supplier E.ON’s planned acquisition of OVO Energy has been launched on the 2nd of September.
The Competition and Markets Authority (CMA) will investigate whether the move will reduce competition within its markets.
The agreement was signed back in May which would make it the UK’s largest energy supplier. The companies did not disclose the value of the deal but it is expected to create a supplier with almost 10 million customers.
Both parties have been informed of the newly opened investigation following the launch of the merger inquiry on the 2nd of September.
The invitation to comment, which was opened on the 8th of July, has been closed and the inquiry will now enter phase one of the process.
The first phase of the investigation will end on the 28th of October, with the option be extended in certain circumstances.
Until the inquiry is completed, the two suppliers will operate separately.
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