Energy firm profits tracker

Energy giants have made around £125 billion in profits on their UK operations since the energy bills crisis started.

Around £40bn has been taken in profit in the UK by the energy firms examined in the last two years, yet there are continued calls from energy industry lobbyists to axe the Windfall Tax.

The total profits generated globally by the firms since 2020 stand at over half a trillion pounds.

Methodology

29 firms were monitored, with 26 making a profit over 5 years. These firms were selected by the researchers to create a cross section of the energy industry and to reflect those most frequently covered in the media. Adura (the Shell / Equinor joint venture in the North Sea) will be added to the tracker once results are published).

Data for individual companies is currently being updated.

The data is collated from publicly available company reports and industry sources, with profits adjusted where possible to reflect UK operations.

For multinational businesses, UK profit estimates are based on disclosed proportions of revenue, production, or operating assets attributable to the UK, or on reasonable assumptions using sector benchmarks where disclosure is limited.

The figures are indicative, providing a consistent basis to assess trends in UK energy-sector profitability and its relationship to household energy costs. These measures differ from company to company due to reporting processes and regulatory requirements in different jurisdictions.

In determining which measure of profitability to use, the research has prioritised the measure preferred in the company’s own accounts. The totals declared here include offsetting any losses made by some of the firms in some years of the period examined. 30 firms are monitored, with 26 making a profit over 5 years and 1 yet to post results. These firms were selected by the researchers to create a cross section of the energy industry and to reflect those most frequently covered in the media.

Data as at 12 November 2025. If any firm wishes to correct the records, please email info@endfuelpoverty.org.uk.

The data was compiled by experienced freelance business journalist David Craik and examined and peer-reviewed by a business analyst with board-level experience within complex multinational businesses. 

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