The Competition and Markets Authority has launched its investigation into Ovo’s proposed acquisition of SSE’s retail arm.
The probe was officially launched today (24 October) and will continue until 18 December.
A previous tie-up between SSE and Npower was already given the greenlight last year so it is expected that this deal will not flag up any problems for the CMA.
Ovo announced its audacious move last month, which will propel it to become the second largest supplier and put an end to the big six.
The proposals would see Ovo pay £400 million in cash and £100 million in loan notes.
It will mean Ovo taking on SSE’s 3.5 million customers, in addition to roughly 8,000 employees.
Speaking at the time of the deal Ovo chief executive Stephen Fitzpatrick said: “This transaction marks a significant moment for the energy industry. Advances in technology, the falling cost of renewable energy and battery storage, the explosion of data and the urgent need to decarbonise are completely transforming the global energy system.
“For the past three years OVO has been investing heavily in scalable operating platforms, smart data capabilities and connected home services, ensuring we’re well positioned to grow and take advantage of new opportunities in a changing market.
“SSE and OVO are a great fit. They share our values on sustainability and serving customers. They’ve built an excellent team that I’m really looking forward to working with.”