Stephen Fitzpatrick

Stephen Fitzpatrick is the founder of Ovo Energy, a prominent UK energy supplier. Ovo Energy is currently newsworthy due to recent regulatory issues; the company has agreed to pay over £10 million to Ofgem, the energy regulator, for failing to adequately monitor vulnerable customers with prepayment meters. This oversight could have put these customers at risk. In a separate significant development, E.ON, a German energy group, has agreed to acquire Ovo Energy. This deal, estimated to be worth around £600 million, would create the UK's largest gas and electricity supplier, serving approximately 9.6 million customers and surpassing current market leader Octopus Energy. Fitzpatrick's current relevance stems from these dual events: the financial penalty for past failings and the strategic sale of his company, which will reshape the UK energy market.