It’s been revealed that the big energy companies have made more than £500 billion in profits over the past five years.
These profits have been raked in whilst households across the country have struggled with astronomical energy bills. Researchers from the End Fuel Poverty Coalition examined the accounts of firms ranging from oil heavyweights, producers, power distributors, and even household suppliers.
The 20 companies have made over £500 billion between them since the year 2020, including £115 billion last year alone.
Households Are Struggling to Keep Up
Whilst profits soar, UK households still remain in the battle of high energy bills, with Ofgem’s price cap increasing by an average of £111 a year to £1,839.
At Least the Big Companies are Happy… right?
Centrica, owner of British Gas, made a despicable £1.6 billion profit last year with research showing they have made £9billion since 2020. Oil giant Shell has made a disgustingly colossal £92billion profit on a global scale in the past five years which includes £18.7billion last year.
The wrongful continuation of these companies profiteering can’t go on any longer, whilst homes across the UK are fighting for their lives. It’s shameful.
Caroline Simpson, Spokes Person for Warm This Winter:
Frankly this is shameful. Whilst the whole of the UK struggles with ‘Awful April’ these energy profiteers are celebrating ‘Awesome April’ with their lastet results showing they made over half a trillion pounds.”
Another Blow for Millions
This is the third time in a row energy bills are rising and is another massive blow to millions of households struggling to pay for their energy bills as well as other essentials. A low-income household spending £1,849 a year is simply impossible.
With debt at record high levels and continue to rise, homes are rationing heat, and some are going without other essentials – the time for this to stop and take back control from these profiteers is now.
