OVO Energy

Since January 2020, as a ‘Big Six’ supplier, their aspirations have also grown larger. The energy firm has made a commitment to being a net zero carbon business and endeavours to achieve bold science-based carbon reduction targets by 2030. They will do this by helping their customers, referred to as ‘members’ halve their carbon footprint at the same time. OVO calls this ‘Plan Zero’.

To tackle the climate crisis, OVO Energy offers green energy tariffs, smart technology, and community support to assist everyone in reducing overall carbon emissions.

In November 2018, OVO acquired one of its largest competitors, Spark Energy. In February 2019, Mitsubishi Corporation bought a 20 percent stake in OVO Energy, valuing the firm at £1bn.

In September 2019, OVO agreed to pay £500 million for SSE Energy, the acquisition was completed in January 2020. This now makes OVO Energy the second-largest energy supplier in the UK, after British Gas.

OVO Energy is part of OVO Group, a subsidiary of Imagination Industries Ltd, a holding company which is wholly owned by Stephen Fitzpatrick.

OVO Energy has signed up to the government’s Warm Home Discount Scheme.

The government’s Warm Home Discount Scheme gives eligible people a £140 discount on their electricity bill between October and April. You are automatically eligible for the scheme if your energy company is part of the scheme and you get the Guarantee Credit element of Pension Credit. You may be eligible if your energy company is part of the scheme and you are on a low income or if you receive certain means-tested benefits.

For more information on the Warm Home Discount Scheme you can visit www.gov.uk/the-warm-home-discount-scheme/