London, 12 May 2017 – OVO today announces that it has acquired CORGI HomePlan, the UK’s third largest home service provider, with over 150,000 customers.
The acquisition - the company’s second in 2017 - marks another step in OVO’s transition from core energy supplier towards creating a truly integrated, technology-enabled energy services company.
Since launching in 2011, CORGI HomePlan has grown rapidly with double-digit, year-on-year increases in customer numbers. It has built an exceptionally strong brand and a reputation for great customer service, delivered through its proprietary tech platform and its engineer network.
Adding CORGI HomePlan to OVO’s portfolio expands its current in-home network - which currently installs smart meters and smart-grid services such as VCharge - now providing the capability to install and maintain boilers, thermostats and other technology.
The acquisition builds on OVO’s strategy of growth and diversification, positioning the company strongly in the face of increasing competition and regulation in the market, challenging both incumbent players and new entrants.
Stephen Fitzpatrick, CEO of OVO, said: “We are incredibly excited to welcome CORGI HomePlan into the OVO family. The adoption of new technologies such as smart meters, heating controls, batteries, and electric vehicles will transform the market for both energy and home services. By combining OVO and CORGI HomePlan’s brands and technology platforms, we are now uniquely placed to offer customers intelligent energy services to power their homes.”
Peter Southcott, Managing Director of CORGI HomePlan, said: “This is very good news for our team, our customers and our engineers. Becoming part of OVO opens up a new world of possibilities for CORGI HomePlan - expanding the services we can offer our customers, increasing the work we bring to our network of engineers, and strengthening the skills we have in our teams.”
Caitriona Deakin, CEO at CORGI Services, said: “This acquisition represents a great opportunity for CORGI HomePlan. By joining forces with one of the UK’s leading energy suppliers, it firmly establishes CORGI HomePlan’s position in the market. Added to this, it offers many benefits for homeowners through an expansion of services and increased access to shared industry knowledge and technologies."
For more information:
OVO Energy is a leading UK independent energy supplier. Founded in 2009 by Stephen Fitzpatrick, OVO Energy has redesigned the energy experience to be fairer, greener and simpler for all. With a mission of creating the world’s most trusted energy company, OVO Energy has attracted nearly 700,000 customers and has been recognised as the uSwitch Energy Supplier of the Year, and ranked as number one in the 2015 and 2016 Which? energy customer satisfaction surveys.
About CORGI HomePlan
Launched in 2011, CORGI HomePlan is a UK based provider of home maintenance insurance plans to homeowners. All plans incorporate heating, plumbing and electrics as standard, along with an annual boiler service. Additional cover above these standard items such as wider central heating, taps, toilets and drains etc can also be purchased. CORGI HomePlan operates a platform with a network of approximately 5,000 engineers that are subcontracted through some 2,000 or so firms and paid on a per job basis based on time and materials.
OVO Energy Ltd, registered office 1 Rivergate Temple Quay Bristol, BS1 6ED, company no. 06890795 registered in England and Wales, VAT No. 100119879
Additional terms and conditions
Please see below for full terms and conditions on 33% renewable electricity, 3-5% interest rewards, exit fees and saving claims.
1Monthly cost - Representative monthly direct debit costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas) paying in advance by direct debit, including online discount. All rates correct as of 2/3/2018, but may go up or down.
2Weekly cost - Representative weekly costs based on a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas). All rates correct as of 22/11/2017, but may go up or down.
3Pay Monthly Savings claims: Saving based on the estimated annual cost of OVO Two year fixed tariff for a non-economy-7, dual-fuel, medium user (3100 kWhs elec. and 12500 kWhs gas) paying monthly in advance by direct debit, including online discount. Comparisons made against the average of the Big 6 standard variable tariffs with equivalent features. All rates correct as of 2/3/2018.“The Big 6” are British Gas, Scottish Power, SSE, Npower, E.ON and EDF.
4Pay As You Go Savings are based on the average estimated annual costs for new PAYG OVO customers quoted through the OVO website (based on household and/or consumption information provided by those customers), compared to their current supplier and tariff. Comparisons taken between 01/01/2016 and 11/10/16. Incl VAT. Actual savings may vary according to your current supplier or tariff, individual tariff options, household information, consumption and location.
We include almost twice as much renewable electricity as the national average: At least 33% of electricity in all of our tariffs comes from renewable sources. The national average, according to Ofgem as at March 2014 was 16.7%. For more information please visit this page.
33% of your electricity comes from renewable sources: 33% renewable electricity as standard as of 1st April 2015. Renewable electricity is generated from wind, solar, geothermal, wave, tidal, hydro, biomass, landfill gas, sewage treatment plant gas and biogas.
OVO Interest Rewards: Interest Rewards are paid on credit balances of customers paying by monthly Direct Debit. It is calculated at 3% in your first year, 4% in your second year and 5% in your third year (and every year thereafter) if you pay by Direct Debit. Interest Rewards are paid monthly based on the number of days you’re in credit and the amount left in your account after you’ve paid your bill. Full terms apply: https://www.ovoenergy.com/terms
95% of new customers save when switching to OVO: Savings based on the average estimated annual costs for all new OVO customers quoted through the OVO website, compared to their current supplier and tariff. Comparisons taken between 01/05/2016 and 11/10/16. Incl VAT.
94% of surveyed customers would recommend us: OVO conducted a survey of their customers in between 1st January 2016 and 15th April 2016. Out of 15,312 customers who responded, over 94% rated OVO 6+ when asked 'how likely would you be to recommend us to a friend and family, on a scale of 1 to 10.
uSwitch's Energy Supplier of the Year 2017: OVO energy was voted and awarded 'Energy Supplier of the year' and best for: Overall Customer Satisfaction, Most Likely to be Recommended, Value for Money, Best Deal for You, Customer Service, Billing Services, Energy Efficiency, Meter Services, Online Services, Green Services and Transfer Process. OVO Energy scored a 96% customer satisfaction score.
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