Energetic Ovo picks up Economy Energy clients

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The deal makes Ovo Energy the biggest challenger to the “Big Six” suppliers The deal makes Ovo Energy the biggest challenger to the “Big Six” suppliersILYA NAYMUSHIN/REUTERS

About 1.4 million households will receive gas and electricity from Ovo Energy after it continued to expand by acquiring 235,000 customers from the failed supplier Economy Energy.

The deal, just weeks after it took on the defunct supplier Spark Energy and its 290,000 customers, puts clear water between Ovo and the other challengers to the “Big Six” established suppliers.

Economy collapsed on Tuesday, becoming the ninth small supplier to go bust in a year and leaving £17 million in debts under a green energy scheme.

Ofgem, the regulator, selected Ovo to take on Economy’s customers and said Ovo would meet the full cost of honouring credit balances, including refunds owed to former customers.

Most other supplier collapses, including that of Spark, have resulted in the…

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