French state owned utility EDF is in talks to acquire electricity supplier So Energy, which is majority owned by Irish energy company ESB, according to a source familiar with the matter.
The discussions, first reported by Sky News, could expand EDF’s already significant presence in Britain, where it supplies electricity to about 5 million customers.
A potential acquisition would add roughly 300,000 customers to EDF’s UK customer base, Sky News reported.
So Energy supplies electricity to households and also installs solar panels, giving EDF an opportunity to expand its retail and renewable energy operations in Britain.
The talks come as EDF faces intense competition from major UK suppliers including Octopus Energy, British Gas and E.ON.
E.ON announced plans in May to acquire rival Ovo Energy, although the German utility did not disclose the value of the transaction.
The source did not provide a valuation for So Energy but said the company was relatively small and therefore unlikely to be an expensive acquisition for EDF.
Neither EDF nor ESB immediately provided further details on the reported talks.
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