OVO ENERGY LTD
Operating as a subsidiary of the privately backed OVO Group, the company supplies domestic gas and electricity to residential customers across the UK.
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Cash
£248m
-14.2% lowest in 3 filed years
Net assets
-£82m
+79.8% highest in 3 filed years
Employees
4,078
-4.8% lowest in 3 filed years
Profit before tax
-£71m
-16.4% lowest in 3 filed years
Watch the reel
Our short-form breakdown of OVO ENERGY LTD's latest filing
OVO Energy's latest accounts show a £105m operating loss, but the UK retail business is being sold to E.ON. ⚡️
Watchouts
Facts from the Companies House register and the latest accounts — not a rating
-
Material uncertainty over going concern
These conditions, along with the other matters explained in note 2 to the financial statements, indicate the existence of material uncertainties which may cast significant doubt about the group's and the company's ability to continue as a going concern.
-
3 officer resignations in last 12 months
Multiple officers have left the board recently — see the People section for who.
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Going-concern uncertainty disclosed
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Negative shareholders' funds
Net assets
3-year trend · vs Consumer Discretionary median
Accounts
3-year trend · Δ = latest vs prior filed period · latest reflected 2025-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 | Δ vs prior |
|---|---|---|---|---|---|
| Turnover | £8,166,000,000 | £5,472,000,000 | £5,098,000,000 | -6.8% | |
| Operating profit | £1,119,000,000 | -£81,000,000 | -£75,000,000 | +7.4% | |
| Profit before tax | £1,061,000,000 | -£61,000,000 | -£71,000,000 | -16.4% | |
| Net profit | £810,000,000 | — | — | — | |
| Cash | £379,000,000 | £289,000,000 | £248,000,000 | -14.2% | |
| Total assets less current liabilities | -£470,000,000 | -£310,000,000 | -£32,000,000 | +89.7% | |
| Net assets | -£617,000,000 | -£406,000,000 | -£82,000,000 | +79.8% | |
| Equity | -£617,000,000 | -£406,000,000 | -£82,000,000 | +79.8% | |
| Average employees | 4,169 | 4,282 | 4,078 | -4.8% | |
| Wages | £198,000,000 | £206,000,000 | £209,000,000 | +1.5% | |
| Directors' remuneration | £1,200,000 | £2,256,000 | £2,306,000 | +2.2% | |
| Directors' pension contributions | £0 | £21,000 | £42,000 | +100% | |
| Highest paid director | £622,000 | £904,000 | £1,249,000 | +38.2% |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. The Δ column is the change from the prior filed period as a percentage of |prior|; lines a company doesn't report show —. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 | 2025-12-31 |
|---|---|---|---|---|
| Operating margin | 13.7% | -1.5% | -1.5% | |
| Net margin | 9.9% | — | — | |
| Gearing (liabilities / total assets) | 125.2% | 124.8% | 104.5% | |
| Current ratio | 0.58x | 0.56x | 0.63x | |
| Interest cover | 12.86x | -1.09x | -2.88x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- IFRS
- Reporting scope
- Consolidated group
- Auditor
- PricewaterhouseCoopers LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Material uncertainty disclosed
“These conditions, along with the other matters explained in note 2 to the financial statements, indicate the existence of material uncertainties which may cast significant doubt about the group's and the company's ability to continue as a going concern.”
Group structure
- OVO ENERGY LTD · parent
- OVO Electricity Ltd 100%
- OVO Gas Ltd 100%
- OVO Brand Ltd 100%
- Spark Gas Shipping Ltd 0%
- OVO (S) Energy Services Holding company Limited 100%
- OVO (S) Electricity Dormant. 100%
- OVO Solar and Heating Ltd 100%
- OVO (S) Energy Solutions Limited 100%
- Bonnet Ltd 100%
Significant events
- “On 17 May 2026, the OVO Group announced that it had agreed the sale of its UK energy retail business to E.ON. The UK energy retail business consists of the Company and its subsidiaries with the exception of the boiler installation business carried out by OVO Solar and Heating Ltd.”
- “The sale is subject to regulatory approvals and is expected to complete in the second half of 2026.”
- “The OVO Group has also agreed to sell its Home Services business, which includes the boiler installation business carried out by OVO Solar and Heating Ltd, to Homerzee, subject to regulatory approval.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
2 active · 18 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| GADHIA, Jayne-Anne, Dame | Director | 2025-11-21 | Oct 1961 | British |
| HOUGHTON, Christopher Paul | Director | 2025-11-21 | Dec 1978 | British |
Show 18 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BLACK, Kristopher John | Secretary | 2009-07-21 | 2009-12-14 |
| CASEY, Vincent | Secretary | 2016-02-04 | 2024-12-13 |
| DAVIES, James Russell | Secretary | 2024-12-13 | 2026-01-16 |
| BHATIA, Raman | Director | 2021-01-18 | 2024-05-31 |
| BLACK, Kristopher John | Director | 2009-07-21 | 2009-12-14 |
| BLAKE, Ben | Director | 2021-01-18 | 2021-11-30 |
| BUTTRESS, David | Director | 2024-05-31 | 2025-12-01 |
| CALCOTT, Sarah | Director | 2016-02-04 | 2017-03-20 |
| CASEY, Vincent Francis | Director | 2018-06-08 | 2024-12-13 |
| CASTELL, William Thomas | Director | 2021-01-18 | 2022-01-10 |
| DAVIES, James Russell | Director | 2024-12-13 | 2026-01-16 |
| FITZPATRICK, Stephen | Director | 2009-04-29 | 2021-01-18 |
| HOUGHTON, Christopher Paul | Director | 2015-01-28 | 2018-11-30 |
| LETTS, Adrian James | Director | 2019-01-07 | 2022-03-01 |
| MURPHY, Stephen Thomas | Director | 2015-01-28 | 2021-01-18 |
| OWEN, Jonathan Wyn | Director | 2015-12-09 | 2018-01-25 |
| WASS, Niall Fraser | Director | 2015-12-09 | 2021-01-12 |
| OVO GROUP LTD | Corporate Director | 2009-04-29 | 2009-07-21 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Ovo Holdings Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-10-31 | Ceased 2019-10-31 |
| Ovo Finance Ltd | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2019-10-31 | Active |
| Ovo Group Ltd | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2016-04-06 | Ceased 2019-10-31 |
Filing timeline
Last 20 of 126 total filings
Material constitutional events — rename, articles re-file, resolution
- 2024-12-30 CC04 Statement of companys objects
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-08-19 | AA | accounts | Accounts with accounts type group | |
| 2026-02-16 | AD01 | address | Change registered office address company with date old address new address | |
| 2026-01-21 | TM01 | officers | Termination director company with name termination date | |
| 2026-01-21 | TM02 | officers | Termination secretary company with name termination date | |
| 2025-12-15 | TM01 | officers | Termination director company with name termination date | |
| 2025-11-27 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-21 | AP01 | officers | Appoint person director company with name date | |
| 2025-11-11 | AD02 | address | Change sail address company with old address new address | |
| 2025-11-10 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-09-30 | AA | accounts | Accounts with accounts type full | |
| 2025-07-03 | PSC05 | persons-with-significant-control | Change to a person with significant control | |
| 2025-01-27 | SH01 | capital | Capital allotment shares | |
| 2025-01-16 | MR01 | mortgage | Mortgage create with deed with charge number charge creation date | |
| 2024-12-30 | CC04 | change-of-constitution | Statement of companys objects | |
| 2024-12-18 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-12-17 | TM01 | officers | Termination director company with name termination date | |
| 2024-12-17 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-12-17 | AP01 | officers | Appoint person director company with name date | |
| 2024-11-08 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-09-09 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 9
- Capital events
- 1
- Officers appointed
- 2
- Officers resigned
- 3
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.