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Bristol firm confirms plans to buy Spark Energy

Spark Energy Photo: Spark Energy

It's hoped a deal can be struck today to save around 400 jobs believed to be under-threat in the Borders.

Ovo Energy, based in Bristol, have made a conditional offer to buy Spark Energy after the Selkirk based company stopped trading on Friday.

Ovo, currently has 880,000 customers and hopes to take on the 30,000 customers currently being supplied by Spark.

Spark is the seventh energy company this year to fail after facing a £14 million bill from the energy regulator Ofgem for not meeting its renewable power obligation.

Ofgem is expected to announce the new supplier today and have advised customers to take a meter reading to ready when the changes come about.

Ofgem will now choose a new supplier and ensure you get the best deal possible. Whilst we're doing this our advice is to 'sit tight' and don't switch. You can rely on your energy supply as normal. We will update you when we have chosen a new supplier, who will then get in touch about your new tariff."

– Ofgem