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OVO Energy

Energy supplier since April 2009

Key Dates

Launched - 2009

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Customer service


Connections

Energy SW
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Fairer Power
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Peterborough Energy
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Southend Energy
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Boost
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Lumo
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Spark Energy
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From: 27 November 2018 View
Economy Energy
Failed supplier
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Companies House

OVO ENERGY LTD

Company number:
06890795

Full accounts available, made up to Monday 31 December 2018

Accounts next due on Wednesday 30 September 2020, covering period to Tuesday 31 December 2019

Company status:
ACTIVE
Company type:
Private Limited Company

Registered address:
1 Rivergate, Temple Quay, Bristol, BS1 6ED

Incorporated:
29 April 2009

Charges over the company

  • Delivered: 10 January 2019
    Party: Shell
    Status: Outstanding
  • Delivered: 04 December 2014
    Party: Shell
    Status: Outstanding
  • Delivered: 12 February 2014
    Party: Gim Credit (Luxembourg) S.A.R.L
    Status: Fully satisfied on 09 December 2014
  • Delivered: 04 April 2012
    Party: Macquarie
    Status: Outstanding
  • Delivered: 04 April 2012
    Party: Macquarie Group Services Australia Pty LTD. (UK Branch)
    Status: Outstanding
  • Delivered: 29 February 2012
    Party: HSBC
    Status: Fully satisfied on 09 December 2014

Market entry provider

None identified

Finances

Companies House
(£m) 201320142015201620172018
Revenue 171.678319.302512.427685.203762.521936.417
Cost of sales (153.104)(295.433)(468.245)(588.475)(637.12)(865.64)
Gross profit/(loss) 18.57423.86944.18296.728125.40170.777
Admin expenses (18.275)(58.495)(78.904)(113.528)(119.561)(125.798)
Other income/expense0.0131.5361.568
Operating profit/(loss) 0.312(33.09)(34.722)(16.8)5.84(53.453)
Gross Margin 10.8%7.5%8.6%14.1%16.4%7.6%
Net Margin 0.2%(10.4%)(6.8%)(2.5%)0.8%(5.7%)

Company Accounts


Persons with significant control

    OVO ENERGY LTD


    1. Ovo Group Ltd
      From: 2016-04-06
      • Ownership of shares - 75% or more
      • Voting rights - 75% or more
      • Right to appoint and remove directors
      1. subdirectory_arrow_rightImagination Industries Limited
        From: 2016-04-06
        1. subdirectory_arrow_rightMr Stephen James Fitzpatrick
          From: 2016-04-06



News

24 October 2019
View SSE

UK competition watchdog looking into OVO deal for SSE's retail arm

The UK Competition and Markets Authority (CMA) said on Thursday it was looking into whether OVO Energy’s 500 million pound ($646.00 million) deal to buy power company SSE Plc’s (SSE.L) retail arm will lessen competition in the United Kingdom. SSE’s retail energy business is one of the “Big Six” in the British market, supplying energy and related services to around 3.5 million household customers. The CMA said it was inviting comments on the deal from interested parties until a Nov. 6 deadline.

Reuters

21 October 2019
Ovo takes stake in PPA platform Renewable Exchange

Ovo has taken a minority stake in Renewable Exchange, an online digital marketplace and insight platform for power purchase agreements (PPAs). Founded in 2016, Bristol-based Renewable Exchange connects sellers and buyers, serving 717 independent generators in the UK representing 1GW of installed capacity.

New Power

13 September 2019
View SSE

AGREEMENT TO SELL SSE ENERGY SERVICES TO OVO

SSE plc (“SSE”) has entered into an agreement to sell its SSE Energy Services business to OVO Energy Limited, a wholly owned subsidiary of OVO Group Limited, at an enterprise value of £500m comprising £400m cash and £100m in loan notes (the “Transaction”).

SSE

14 February 2019
Mitsubishi buys 20% stake in clean energy challenger OVO Energy

Mitsubishi is to acquire a 20% stake in the Bristol-headquartered firm, the proceeds of which will be used to expand OVO’s presence into new markets across Europe and Asia Pacific.

Current News

Mitsubishi takes 20% stake in Ovo Energy14 February 2019 | Financial Times | Login required

Mitsubishi buys 20 per cent stake in Ovo Energy14 February 2019 | Utility Week | Login required