Watt-Logic

OVO Energy Is Looking Shaky – Its Failure Would Dwarf that of Bulb

OVO Energy, a UK supplier serving over four million homes, is facing a severe financial crisis that could lead to bankruptcy within a year. The company posted the lowest customer‑satisfaction score in the 2025 Which? survey and is one of five firms breaching Ofgem’s capital‑adequacy rules. Its 2024 accounts show a £726 million shareholders’ deficit, negative working capital and a reliance on a 12 % junk‑rated £60 million loan. Volatile hedge accounting further obscures a weak underlying retail margin, raising doubts about its ability to fund operations.