Just 20 energy firms have amassed £483 billion in profits since the energy bills crisis began claims a fuel poverty group.
The End Fuel Poverty Coalition ‘profit tracker’ highlights gains across the industry, from producers like Shell to grid operators such as National Grid. Last year (2024) it claims profits hit £9 billion, with interim figures adding another £77 billion.
Despite such profits, energy bills continue to climb. Ofgem’s price cap changes brought a another 1.2% increase this month.
Simon Francis, from the End Fuel Poverty Coalition said: “While consumers shiver in cold, damp homes, energy firms are toasting their bumper profits. A quarter of heating costs are wasted due to poorly insulated homes, leaving households to fund the energy industry’s gains.
“We’re told there’s no money to help older people with energy bills or to roll out insulation schemes. These profits show that claim doesn’t hold water. There’s plenty of money—just not in customers’ hands.”
