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Chart of the Week


Take on me: market share impacts of domestic supplier trade sales

Hannah Treacy Analyst

This week, we look at the market share impacts of recent mergers and acquisitions among domestic energy suppliers. Over the last year, the headline changes saw incumbent suppliers, npower and SSE, exit the domestic supply market with customers going to E.ON UK and Ovo Energy, respectively. The consolidation has resulted in Ovo Energy achieving 14.5% market share by energy accounts and becoming the second largest supplier. While we reported E.ON UK and npower market shares separately in our 31 July Domestic Market Share Survey, the combined market share at this point would reach 16.6%. There have been eight other instances of trade sale events in the domestic supply market since January 2019, alongside 10 exits through the supplier of last resort (SoLR) process. Of the gaining suppliers, the greatest level of activity was seen across the medium supplier group (those with more than 250,000 energy accounts), consolidating their position among the largest 17 suppliers by customer number. The medium supplier group took on nine acquisitions, with Octopus Energy the most active, growing its customer base by an estimated 375,000 customers, respectively. Octopus Energy has gained a collective 1.5% market share through its trade sale acquisitions of Co-op Energy in August 2019 and ENGIE in January 2020. Combined with organic growth in our July Domestic Market Share Survey, Octopus Energy became the sixth largest supplier in the market holding 5.7% market share. In September, it was also appointed as SoLR to Go Effortless Energy’s 2,500 domestic customers. Of the large suppliers, EDF Energy and British Gas have been the most ...

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