Ovo energy customer? You'll be moved to E.on as a takeover deal has been agreed – here's what it means for you

The deal had first been mooted in May and it will make E.on Britain's largest energy supplier with about 9.6 million household customers, surpassing the current biggest supplier Octopus. E.on has 5.6 million customers, while Ovo has 4 million. Ovo launched in 2009.

Ovo or E.on customer? Details are scant but right now you don't need to do anything

We've asked Ovo and E.on for more detail on the takeover, including when it'll happen, what customers should be doing (if anything) and what will happen to any built-up credit or debt. We'll continue to push for answers but, for now, here's what we do know:

• Ovo and E.on will continue to operate separately until the takeover goes through. This means that for now, there'll be no immediate change to any of your services, payments (including direct debits) or how you contact each firm. There should be no interruption to your energy supply during the merger.

• Your energy tariff will remain the same. All existing tariffs will be honoured throughout the takeover. This means that if you're on a fixed deal now, it will remain in effect until the end of its agreed term.

• Any benefits you receive directly off your energy bills will also continue to be paid. So, for example, if you're entitled to the Warm Home Discount – you'll continue to receive it.

• The sale of Ovo's boiler and insurance business division to energy services provider Hometree completed on 2 September. Hometree says you don't need to do anything and you will see no difference to your service.

Check if you can save by switching

You can still switch away from Ovo before the takeover takes place. There are currently energy tariffs cheaper than the new October Price Cap, which controls what most households pay for energy.

Right now, you can save up to 4.8%, including cashback, but do a full comparison using our Cheap Energy Club to check. Do beware of exit fees if you're on a fix.