CMA

The deal makes OVO one of the biggest suppliers in Britain, now serving almost five million customers

The regulator said the opening of the probe does not imply any findings have been made about non-compliance by the supplier

The acquisition is expected to be completed in January 2020

The Competition and Markets Authority is inviting comments from interested parties until 6th November 2019

The database was one of the recommendations made by the competition watchdog in 2016 following a two-year investigation of the retail energy market

A revised methodology to calculate the cap means customers would pay an extra £1 a week on average

Under the proposals, the Competition and Markets Authority will receive new powers to decide if consumer law has been broken by companies

The competition watchdog intends to adjust the methodology used to calculate its prepayment price cap ‘in order to better reflect costs’

The UK’s watchdog found no competition concerns

As part of the deal, RWE is selling its 76.8% stake in innogy to E.ON