You might be surprised to learn that currently half of the new “big six” energy suppliers are owned by foreign companies. But who are they, and where are their owners based? Below you’ll find a breakdown revealing where each of the big six’s owners are. It’s worth noting that even if you choose a British-owned and operated supplier, most of your energy is likely to come from overseas.
Which big energy suppliers are British?
At the current time, three of the big six energy suppliers are British. They are British Gas, OVO Energy and Octopus Energy.
Which big energy suppliers aren’t British?
The following energy suppliers are currently owned by non-British companies: EDF Energy, ScottishPower and E.ON Next.
Who owns Octopus Energy?
- Founded: 2015
- HQ: London, United Kingdom
- Majority owner: Octopus Group (UK)
Octopus Energy is currently owned by a group of companies led by the British Octopus Group, which holds a majority shareholding. Other shareholders include Origin (Australia), Tokyo Gas (Japan), Generation (United States) and the Canadian CPP Investment board, who have all come on board over the past four years as Octopus has expanded its operations around the globe.
The UK arm of the company has grown rapidly since the group’s formation in 2015, taking on customers from a range of other suppliers who have either ceased trading (like Bulb) or exited the market voluntarily (such as Shell Energy). This has led to its position as the number one electricity supplier in the UK (it’s also number two gas supplier behind British Gas).
Who owns British Gas?
- Founded: 1812 (as Gas Light and Coke Company)
- HQ: Staines-upon-Thames, United Kingdom
- Majority owner: Centrica (UK)
British Gas’s parent company is Centrica, which is a multinational utility company based in Windsor, Berkshire. Centrica’s own origins are tied closely to British Gas, as it was formed from the demerger of British Gas plc in 1997.
British Gas, which trades under the name Scottish Gas north of the border, was for long periods the undisputed largest energy supplier in the UK – it remains the largest gas supplier, but has fallen to number two overall behind Octopus Energy.
Who owns E.ON Next?
- Founded: 1989 (as Powergen), 2002 (acquisition)
- HQ: Coventry, UK
- Majority owner: E.ON SE (Germany)
E.ON Next is the retail arm of German utility giant E.ON. It was founded in 1989 as Powergen in ahead of privatisation and was privatised in two parts in 1991 and 1995. In 2002 the British company was acquired by E.ON and has operated under its parent’s name since 2007. In 2018, due to an asset swap between their parent companies, E.ON took on Npower and all its customers, and changed its name to E.ON Next.
After acquiring fellow big-six supplier Npower, E.ON Next spent several years as the UK’s second largest energy supplier. It’s now dropped back to third spot after Octopus’s rapid rise, where it remains today.
Who owns OVO Energy?
- Founded: 2009
- HQ: Bristol, United Kingdom
- Majority owner: OVO Group (UK)
OVO Energy is wholly owned by the OVO Group, which is part-owned by a range of investors, including its billionaire founder Stephen Fitzpatrick alongside investment groups such as Morgan Stanley Investment Management and Mayfair Equity Partners. The Mitsubishi Corporation also owns a 20% stake.
In 2019, OVO – which had enjoyed steady growth since its formation – was catapulted into the big six group of energy suppliers when it acquired SSE’s 1.5 million customers after the energy giant exited the retail market. OVO is currently the fourth largest supplier of electricity and gas to UK customers.
Who owns EDF Energy?
- Founded: 2002
- HQ: London, United Kingdom
- Majority owner: Électricite de France (France)
EDF Energy is named after its French owner, Électricite de France, which is wholly owned by the French government. The state-owned enterprise formed EDF in 2002 when it acquired a series of UK energy businesses across the south of England, including SWEB Energy plc, Seeboard plc and London Electricity Board. It’s best known for its ownership and operation of nuclear power stations.
EDF has long been a member of the UK’s big six group of energy suppliers. It’s currently ranked the UK’s fifth largest electricity and gas supplier.
Who owns ScottishPower?
- Founded: 1990
- Acquired: 2007 (Iberdrola Group)
- HQ: Glasgow
- Majority owner: Iberdrola (Spain)
ScottishPower was formed in 1990 ahead of the Scottish electricity industry’s privatisation the following year. It grew steadily in the 1990s before taking over US electricity supplier PacifiCorp, which left the company vulnerable to a takeover in turn. In 2005 it resisted overtures by Germany’s E.ON, but in 2007 the company was sold to Spanish energy firm Iberdola.
The supplier, which also owns part of the UK’s distribution network, currently occupies the sixth and final spot in the UK’s big energy suppliers list.
Are there any other UK-owned energy suppliers?
Yes, many of the UK’s smaller energy companies are wholly or mostly UK owned. They include Birmingham-based E (Gas and Electricity), which specialises in prepayment tariffs, Co-op Energy, whose plans are managed by fellow British supplier Octopus on its behalf, and 100Green, a Hertfordshire-based supplier that offers 100% green gas and electricity.
What is Great British Energy?
Great British – or GB – Energy is a new state-owned company being set up by the UK government to help drive its growth as a “clean energy superpower”. GB Energy will own, manage and operate renewable power generation projects, including wind and solar installations, across the UK. The company’s headquarters are in Aberdeen, Scotland and some of its funding will come from a windfall tax on oil and gas producers.
Who owns GB Energy?
The UK government, on behalf of “the British people”, will own GB Energy. This will be a similar ownership structure to EDF Energy, which is wholly owned by the French government.
Where does my energy come from?
In recent years, the UK has imported more of its energy supply than it exports from other countries. Even in the electricity market, almost 20% of the UK’s needs were met by foreign imports in the second quarter of 2024. In total, around 60% of the UK energy supply comes from countries abroad, including Norway, Qatar, Sweden and the Netherlands. Most of this is gas: approximately 60% of the UK's natural gas imports come from Norway, and 30% of it comes from Qatar. Around half of the UK's crude oil imports come from Norway, and just over 30% comes from OPEC. OPEC is the Organisation of the Petroleum Exporting Countries and has 14 member states that all combine to coordinate international trade policies on petroleum and sell their products together. OPEC's members include Iraq, Iran, Venezuela, Saudi Arabia, Ecuador, Gabon and others mostly in the Middle East region.
This trend of importing more energy than exporting isn't just happening in the UK, though. All EU countries now import more energy than they export.
Why don't we get more energy from within the UK?
There has been a decline in gas and oil production in the North Sea, so the UK has been getting more and more of its energy from other countries. Despite the UK using less energy and increasing its use of renewable sources, our dependence on imported energy has returned to levels not seen since the 1970s.
The reliance on expensive imports is something the new government is keen to move away from. It’s unveiling various measures to help encourage more UK-based electricity generation and has announced plans to set up its own state-owned energy company to help encourage more private investment into the area. In addition, the government is looking at ways to reduce our energy usage further – for example, through improving insulation in homes.
Is the UK using less energy than before?
Yes, the general trend shows that the UK is consuming less energy than in recent times. From the period between 1998 and 2015, there was a 17% fall in the UK's energy consumption and, despite there being a steady increase in the UK population, the amount of energy being consumed continues to fall. Ofgem has even changed its Typical Domestic Consumption Values (which are used to help calculate the level of the energy price cap) to reflect lower energy use across the UK.
There are a few reasons why this is happening:
- More households increasing their energy efficiency through more energy-efficient appliances, better insulation and other measures
- Government policies have been focused on reducing energy consumption and have put regulations and restrictions in place on how much energy businesses and products can consume. There have also been measures and investments to support the promotion of energy saving technology
- The cost-of-living crisis which began with the collapse of the energy market in the autumn of 2021. This led to high energy prices, which prompted consumers to use as little as safely possible. Although prices have fallen from their 2022 highs, people are still wary of using too much energy – for example, due to market volatility and the government’s scaling back of the Winter Fuel Payment for pensioners.
Want to learn more about energy suppliers?
Thirsty for more energy knowledge? Find out more about all suppliers, including pricing history, independent customer reviews and more information about the big six and independent energy providers in our energy supplier guides.
