OVO Energy appointed to take over Spark Energy
OVO Energy has been appointed by Ofgem to take over Spark Energy’s 290,000 customer accounts. Spark Energy ceased trading after it was handed a £14m bill by the energy regulator for non-payment of its renewable power obligation. It is the seventh energy supplier to go bust this year, with smaller challenger firms under pressure amid rising wholesale costs and competition. OVO Energy has entered into a conditional agreement to buy the business, and has committed to protecting its operations and teams in Edinburgh, Horsham and Selkirk. Spark Energy employs around 400 staff, including 300 at its Selkirk HQ.