EDF Energy talks to acquire customer base of British So Energy
French utility giant EDF is negotiating a deal to buy approximately 300,000 household electricity customers from UK firm So Energy, marking potential consolidation in the UK supply market.
French energy company EDF Energy is in advanced negotiations to purchase the customer base of British supplier So Energy. Sources indicate the transaction would involve only the roughly 300,000 retail electricity accounts rather than acquiring the operating company structure itself. Irish Electricity Supply Board (ESB) took a controlling stake in So Energy in 2021 and is currently evaluating divestment options through a sale process managed by PwC. EDF representatives state the acquisition aligns with its strategy to regain market share, as it now trails behind competitors Octopus Energy and British Gas among the sector's major players. While specific financial terms remain undisclosed, industry analysts suggest this customer-focused route is cost-effective compared to full mergers.
