Stephen Fitzpatrick, Ovo's founder, is plotting a takeover of Shell Energy Retail that would see it leafrog rival Octopus Energy and regain the number two slot in the UK domestic supply market, Sky News can reveal.
Octopus Energy is said to be a less likely bidder for SERL, although an offer from it would not be inconceivable.
Ovo was among the rival bidders for Bulb, the collapse of which in November 2021 was the most significant among dozens of supplier failures. Shell said in January that it was launching a review of its household energy supply business in the UK, Germany and Netherlands.Shell is also keen to offload its broadband customer book in the UK, which has about 500,000 customers, according to insiders.
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