Energy Bills Archives - End Fuel Poverty Coalition

Labour Party conference ends with focus on energy bills

The Energy Secretary has announced initiatives to try and bring down energy bills, boost green jobs and ban fracking at the Labour Party Conference in Liverpool.

On the day that the average energy bill rose by 2.21% year-on-year rise (now 68% or £713 a year higher than in the winter of 2020-21), Government ministers have pointed to the work to deliver more renewables and “in the coming weeks” an announcement on the biggest home upgrade programme in British history.

A spokesperson for the End Fuel Poverty Coalition, commented:
“The Government is right to fight for homegrown, clean energy. The North Sea is running dry – even with new fields, the UK won’t produce enough gas to heat our homes by 2027. What’s more, fracking is unsafe, unpopular and unable to meaningfully reduce energy bills.

“So ramping up clean power is the only way to bring our bills down in the long term while providing a secure energy future.

“But as we approach a fifth winter of the energy bills crisis, households are struggling to cope with bills which remain hundreds of pounds a year above where they were in winter 2020/21 and energy debt is now at record levels. Meanwhile, new analysis from the Common Wealth think tank suggests that around 24% of every household energy bill is taken as profit by the energy industry.

“This is why we need action to provide more support to those who need it the most alongside improved energy efficiency and lower bills for households now.”

Household energy debt surges to £4.43billion

New Ofgem figures reveal that household energy debt has soared to £4.43 billion in Q2 2025 – more than triple pre-energy crisis levels and three-quarters of a billion pounds more than this time last year – leaving millions of families trapped in arrears they cannot escape.

The latest data [1] shows:

£1.45bn in debt and arrears at the end of 2020 (pre-crisis)
£3.69bn last year (Q2 2024)
£4.43bn in Q2 2025 (latest figures)

The regulator also reports that 1,133,683 electricity customers and 926,545 gas customers are now in debt without any repayment arrangement in place. Many households may owe on both accounts, meaning over a million households are struggling in energy debt.

The burden of this energy debt is shared by all bill-payers, with households facing up to an extra £145 a year on their bills to cover the collective cost of debt.

At the same time, new analysis from the Common Wealth think tank shows that around 24% of every household energy bill is taken as profit by the energy industry.

The regulator and Ministers are due to launch a new Debt Relief Scheme in the coming months, but while this is supported by members of the End Fuel Poverty Coalition, campaigners have warned it must be simple to understand and accessible. [2]

Debt experts have advised that it must include automatic eligibility for people on means-tested benefits, clear rules on what debt is covered, and flexibility in how households can apply. Experts have also stressed that suppliers should work with debt advice charities to ensure fair and consistent outcomes when implementing the scheme.

A spokesperson for the End Fuel Poverty Coalition, commented:

“Energy debt is now driving people into dangerous financial positions as we approach the fifth winter of the energy bills crisis. Previous research has found that almost one in five households in energy debt have turned to illegal money lenders, with households waking each morning fearful of what using electricity or gas might cost them.

“We must urgently write off arrears and reform the system so fewer households are powerless to pay off their debts.”

Independent Age Policy Manager, David Southgate, said:

“Older people on low incomes are increasingly bed bound by the cold – forced to turn in early in hats, gloves, scarves, and extra blankets during the winter to stay warm. Many have fallen into debt in a bid to keep the heating on, with yet another difficult winter just around the corner, they need immediate support.

“We are calling on the UK Government to tackle this mountain of debt with a properly funded and targeted debt relief scheme, alongside wider affordability reform, including a national energy social tariff, to ensure everyone can afford to heat and power their homes.”

Frazer Scott, Chief Executive of Energy Action Scotland, said:

“The latest Ofgem figures show that there has been inadequate debt relief – and there is nothing in the pipeline to make energy genuinely affordable for the households that quite clearly cannot pay.

“The number of accounts in debt continues to rise, with average debts growing as well. Over £580 million in debt has been added in just the first six months of 2025. Without urgent intervention, this crisis will only deepen.”

Robert Palmer, deputy director of Uplift, commented:

“This is a saddening debt crisis for too many people in the UK and is driven in part by obscene profits. It’s just plain wrong that nearly a quarter of every household bill is taken as profit by the energy industry. What’s more, the UK’s heavy reliance on expensive gas added an average of £3,000 per household during the energy bills crisis.

“Yet again while shareholders are celebrating rising prices and huge profits, people are facing stark choices of how to ration their energy. Only by supporting struggling households now, improving energy efficiency and getting us off expensive gas through homegrown renewable energy will ministers be able to get a grip on the situation.”

Jonathan Bean from Fuel Poverty Action, added:

“Energy debt will continue to grow whilst the Government fails to deliver its promised £300 bill reduction, with energy prices 70% higher than five years ago.”

Toby Murray, Policy and Campaigns Manager of Debt Justice, said:

“These figures are a shocking indictment of the government and Ofgem’s failure to act on the energy debt crisis. Record energy debts are leaving millions trapped in arrears for a basic essential, bringing stress and hardship to households already struggling to get by.

“Yet almost a year after Ofgem announced they were looking into a debt relief scheme, not a single household has seen their debts reduced. The government must act now and write off unpayable energy debt.”

ENDS

[1] Data taken from Ofgem’s interactive charts on https://www.ofgem.gov.uk/data/debt-and-arrears-indicators which have recently been updated. Specifically, the headline figures use the chart from total financial value of domestic customer debt and arrears (existing for more than 91 days). Key figures:

Q4 2020 (pre-crisis): £1.45bn

Q1 2022 (pre-Ukraine invasion): £1.81bn

Q2 2024 (pre-General Election): £3.69bn

Q3 2024: £3.82bn

Q4 2024: £3.85bn

Q1 2025: £4.15bn

Q2 2025 (latest): £4.43bn

[2] The End Fuel Poverty Coalition is calling for urgent reform to tackle the energy debt crisis, including:

A Debt Relief Scheme with automatic eligibility for households on means-tested benefits and no arbitrary debt thresholds or forced customer contributions.
An end to punitive late fees, additional charges and rigid repayment plans that push people deeper into hardship.
Guaranteed protection for customers on prepayment meters, with relief available to those forced onto PPMs due to debt.
Longer-term action to cut bills and prevent debt recurring, including a national social tariff, fairer standing charges and pricing structures and a major programme of home energy efficiency upgrades and homegrown renewables.

Tariffs with lower standing charges set to come to market

Energy suppliers will have to offer at least one “low standing charge” tariff from early next year.

A four-week long Ofgem consultation will open the door to the new arrangements, which the regulator says will give consumers more choice on how they pay standing charges. If approved, the plans will allow households to pay the costs of running the grid as part of their unit rate by lowering the daily fixed (standing charge) amount.

A spokesperson for the End Fuel Poverty Coalition, commented:
“Requiring suppliers to offer a lower standing charge tariff is a small step forward, but it is not a cure for people struggling with high energy bills and fuel poverty.

“Prepayment meter customers in particular face the greatest detriment from high standing charges, which build up as debt even while people are not using any energy at all. To make a difference, these tariffs must be available to everyone and they must be easy to compare with existing deals.

“The energy industry must make sure that households properly understand the deals they are signing up for – and if a lower standing charge option will benefit them or not.

“And this development doesn’t negate the need for long term reform to make the system fairer, provide support for households struggling with high energy costs, improve the energy efficiency of people’s homes and increase our energy security through more homegrown renewable power.”

A spokesperson for Independent Age, said:
“Older people on low incomes have consistently expressed their frustration with standing charges that can be unfair and excessive. Which is why we welcome Ofgem’s proposal for energy providers to deliver low standing charge tariff options from next year. For this policy to be a success, the regulator must ensure that suppliers make these tariffs easily accessible and provide the full picture regarding the benefits and drawbacks of switching to one.

“While welcome, this reform does not address the affordability crisis. The weather is starting to get colder and last winter was especially brutal for older people in financial hardships. We regularly heard from people in later life that were sitting in cold damp homes or visiting public places to stay warm. The UK Government cannot allow this to happen again.

“They were right to expand the eligibility criteria for the Winter Fuel Payment, but now it’s time to start lifting people out of fuel poverty. To do this, the UK Government should introduce a discounted energy social tariff that will finally make standing charges and unit rates more affordable for those in greatest need.”

National Energy Action said:
“Given the public anxiety about standing charges, any progress in this area is positive, but it’s taken a long time to make even this modest step forward and regardless, Standing Charges or unit charges recovered through the overall energy bills, will remain high and even increase.

“Ofgem’s proposals also won’t change the differences consumers pay depending on where they live in GB or how pre-payment households will still be disproportionately impacted by how these fixed or higher unit charges are recovered if they fall into further difficulties paying their energy bills.

“Much of this complexity is being left at the feet of consumers to work through and there is a big worry this could just cause even further disengagement or distrust in what is considered already a baffling market. Given that the main programmes which support energy advice have yet to be extended beyond March next year, the enhanced need for impartial and in-depth advice and support could create huge challenges.”

Jonathan Bean from Fuel Poverty Action, commented:
“Yet again, Ofgem is pretending to help struggling households but is actually protecting energy firms. Instead of tackling the excessive energy industry profits, costs and levies buried in standing charges, it is now trying to hide them in unit costs. People will be left confused instead of protected.”

“This latest Ofgem plan is designed to distract us from high energy prices which are up 70% over five years, despite Government promises to reduce them. People don’t want more confusing options, they just want affordable energy.”

“The government cannot keep hiding behind Ofgem. It must now step in to bring down energy bills before more people get sick and die in cold homes this winter.”

Two million households won’t turn on their heating this winter

More than two million households say they won’t turn on their heating this winter, an increase on last year, reveals new Uswitch research.

Speaking to the BBC’s Good Morning Scotland, a spokesperson for the End Fuel Poverty Coalition, said:

“Not turning on your heating is an example of what we call dangerous behaviours. Being unable to heat your home properly is unsafe – it risks your health and leads to damp and mould, which make conditions even worse. Around 200,000 households in Scotland face this extreme form of fuel poverty, but the problem is far wider, with almost half a million Scottish households spending over 20% of their income on energy.”

Across the UK as a whole, over 12 million households spend more than 10% of their income on energy (43%) and around 5 million spend more than 20% on energy bills.

The spokesperson urged households to be alert to scams and to contact their energy supplier to check if they need to apply for the Warm Home Discount (see this Money Saving Expert advice) and other vital support with the cost of energy.

“While support such as the Warm Home Discount and winter heating or winter fuel payments can provide short-term relief, we cannot keep papering over the cracks each year. We need urgent investment in insulation and home upgrades, alongside reform of how energy is priced, so people can live in warm, safe homes without relying on volatile gas imports.”

Renters forced to ration gas and electricity

New research from Citizens Advice finds more than two in five private renters (41%, equivalent to 4.5 million people) in England and Wales had to ration gas and electricity to afford their energy bills last winter.

Meanwhile a third (32%, equivalent to 3.5 million) struggled to heat their home to a comfortable temperature. The charity says this forced people to take drastic measures like skip hot meals, wear gloves inside, and limit heating to just one room.

A spokesperson for the End Fuel Poverty Coalition commented:

“Millions of renters are being forced to ration energy, live in cold, damp homes, or even skip hot meals simply because landlords are not required to upgrade properties to a decent standard. At the same time, household energy debt has tripled in the last decade, with people falling behind on bills they can no longer afford.

“The government cannot continue to delay action.

“It must urgently deliver on its promises to raise minimum standards in the rented sector and provide greater protections for private renters through the Renters Reform Bill.

“Alongside that, we need targeted financial help for households with their energy costs, a national programme of area-based insulation upgrades and reforms to electricity pricing to bring down bills.

“Without these reforms tenants will remain trapped in cold, damp homes with devastating consequences for health, wellbeing and household finances.”

Rumours VAT could be scrapped on energy bills

The Times is reporting that the Chancellor is considering axing the 5% VAT on energy bills.

A spokesperson for the End Fuel Poverty Coalition, commented:

“We’ve long argued that energy for households should be a zero-VAT-rated essential good.

“This would be a hugely positive move by the Chancellor that could bring real relief to households facing a fifth winter of high energy bills. But it must also come alongside stronger, structural measures to reform electricity pricing, provide support for vulnerable households, ensure energy efficiency upgrades and investment in energy security.”

Fuel poverty statistics show 12m UK households struggling with energy costs

The number of UK households struggling with the cost of their energy bills has hit 12.1 million as campaigners warn Ofgem that people can not take any more price increases. [1]

With the latest price cap announcement due on Wednesday (August 27), experts say even the one percent increase predicted will lead to further suffering. The next rise will come into force in October and cover the period until the end of 2025 before prices will change again from January 2026.

Two fifths (43%) of UK households are struggling with energy bills and spending more than 10% of their household income on gas and electricity based on the research by the University of York. Of these, almost 5m households spend more than 20% of their income on energy, meaning they are in deep fuel poverty.

The figures also enable a comparison between the constituent parts of the UK. Northern Ireland and the West Midlands have the highest poverty rates, followed by Scotland and the North East. Meanwhile, the lowest rates are in Wales, the South West and Eastern England. [2]

The data also reveals types of households which will be hardest by any price rise. Households with children are the most likely to be struggling with their energy costs as are people who rent their homes. There is also a correlation between the lower the council tax band and the higher the fuel poverty rate.

3.2 million of those in fuel poverty are pensioner households, with 964,000 pensioner households in deep fuel poverty, meaning they spend more than 20% of their income on energy.

Meanwhile official figures also reveal that the level of energy debt is still increasing to an all time high, with millions of households owing a combined £4.15bn in debt. [3]

A spokesperson for the End Fuel Poverty Coalition said:

“Fuel poverty is very much still with us and these figures highlight how vital schemes like the Warm Home Discount are to help those struggling each year.

“But we are now approaching the fifth winter of the energy bills crisis and the time for tinkering with the price cap is over.

“The average household is still paying 67% more for their energy than in winter 2020/21. Ofgem is right to launch a comprehensive review of how energy system costs are allocated, but simply shifting budgets between standing charges and unit rates will not solve the problem.

“We also need to realise that the North Sea is now in terminal decline and unable to meet the UK’s long-term heating needs, despite what some politicians would have us believe.

“This means we must urgently plan to cut our dependence on gas and bring down the cost of electricity.

“Failure to act will lead to even greater reliance on gas imports, reduced energy security and increased energy bills.

“As well as looking at the price cap, we need to scrutinise the profits made by transmission and network companies, while Ministers must step in to ensure investment and funding decisions bring down the cost to bill payers of maintaining our vital infrastructure.”

Campaigners are now urging the Government and Ofgem to look at other ways to raise revenue for network improvements and point to the half a trillion pound profits made by energy companies since 2020 and the £4 billion in excess profits energy networks pocketed after a regulatory decision.

Uplift Executive Director Tessa Khan commented:

“This is unwelcome news for the millions of people who find themselves in fuel poverty, even before it begins to turn cold.

“The primary cause of the years of persistently high energy prices is the UK’s dependency on gas to generate electricity and heat our homes – which at its peak was three times higher than pre-crisis levels and remains almost double what it was.

“Oil and gas firms, who are lobbying against the shift to homegrown renewable energy, want it to stay this way so they can continue to make billions at our expense.

“Any politician who sides with these profiteering oil giants – and opposes the insulation of homes and building of more renewables – is working against the interests of UK pensioners, families and anyone else struggling with unaffordable energy bills.”

Jonathan Bradshaw, Emeritus Professor of Social Policy and Social Work at the University of York, said:

“Official statistics on fuel poverty don’t show the full picture of suffering caused by high energy bills.

“Our research uses benchmark official figures on living standards along with energy tariff data and statistical models to estimate the impact of energy costs on the population as a whole and on different groups of people.

“While the data shows a slight reduction in the numbers of households struggling compared to 2022/23, it is clear that fuel poverty is still with us.”

ENDS

[1] FUEL POVERTY IS STILL WITH US. Munalli, Gianluca; Bradshaw, Jonathan Richard; Richardson, Dominic .

13 p. 2025, Paper.

Research output: Other contribution

https://cpag.org.uk/news/fuel-poverty-still-us

The figures are inline with official data from 2024 for England which state that “the number of households who are required to spend more than 10 per cent of their income (after housing costs) on domestic energy… [for] 2024 [is], 36.3 per cent of households (8.99 million)… up from 35.5 per cent in 2023 (8.73 million)” and predicted a rise for 2025. The English figure for 2025 based on the York data is 9.94 million.

[2] Regional breakdown table sorted by the % of the area paying more than 20% of household income on energy in 2025.

Region	% of households of demographic spending more than 10% of income on energy 2022/23	% of households of demographic spending more than 10% of income on energy 2025	% of households of demographic spending more than 20% of income on energy 2022/23	% of households of demographic spending more than 20% of income on energy 2025
Northern Ireland	60.2	59.3	28.8	27.9
West Midlands	51.9	51.2	23.6	22.3
Scotland	47	44.3	18.9	18.1
North East	48.5	44.5	17.7	17.7
Yorkshire and the Humber	46.5	45.4	17.1	17.1
London	31.8	31.1	16.8	16.8
North West and Merseyside	47.3	45.5	16.7	16.7
East Midlands	43.5	40.9	15	14.3
South East	38.6	36.2	15.5	14.1
East of England	40.8	39.6	14.1	13.9
South West	39.6	38.4	13	12.2
Wales	42.7	42.2	12.1	12.1

[3] Latest figures based on Q1 2025: https://www.ofgem.gov.uk/data/debt-and-arrears-indicators

Smart meter rule changes needed as July price cap change comes in

Britain’s smart meter rollout must provide stronger protections for those left without functioning meters or denied access to cheaper energy tariffs.

In its submission to Ofgem’s consultation on Smart Meter Guaranteed Standards of Performance, the End Fuel Poverty Coalition said the regulator’s proposals “do not go far enough” and risk “letting down the very people most in need of support.”

The warning comes as the 1 July energy price cap change comes into effect and millions of households are expected to start shopping around for better energy deals. Many of the most competitive tariffs are now only available to customers with working smart meters.

Consumers without functioning smart meters, or who have been unable to get one installed, are often excluded from these deals, further widening the gap between those who can and cannot afford to heat their homes.

“This is fast becoming a two-tier energy system,” the report warns.

“Households without smart meters, often through no fault of their own, are now locked out of the most affordable tariffs. This creates a form of discrimination and risks trapping more people in fuel poverty.”

The Coalition’s submission lays out two key categories of compensation. First, it recommends quarterly automatic compensation for ongoing failures such as:

A smart meter not being connected by the Data Communications Company (DCC).
Areas with no DCC coverage despite consumer requests.
Installation failures in buildings with architectural challenges (e.g. stone walls, first-floor flats).
Smart meters that fail to communicate with suppliers or the DCC.
Smart meters that don’t work properly after installation.

Secondly, it calls for one-off automatic payments for each occasion where:

Meter readings are recorded incorrectly during installation.
Installation appointments aren’t provided within a set timeframe.
Engineers miss scheduled appointments.
Installations fail due to supplier-related issues.

The Coalition says that suppliers should be required to pay compensation even when third-party organisations are at fault, and then reclaim the cost from those responsible in a significant departure from the current system.

It warns that current proposals rely on the phrase “within a supplier’s control” before compensation can be paid out which risks creating loopholes that allow firms to dodge accountability.

Separately, the Coalition has raised concerns with regulators about the impact of increasing reliance on time of use tariffs on vulnerable groups who have less ability to shift demand to alternative times of the day.

A spokesperson for the End Fuel Poverty Coalition commented:

“Smart meters can be a force for good, helping households manage their usage, access better tariffs, and reduce costs. But we need to remember those households who are unable to access these tariffs.

“It’s time for energy companies to take full responsibility for the broken smart meter rollout. Consumers have already paid billions for this programme through their bills, yet they are the ones being left without working meters, without access to the best tariffs, and without proper compensation.

“All of these issues are happening at the same time as we see ongoing structural problems in the UK’s energy pricing system continue to drive up the cost of electricity, which remains closely linked to volatile global gas markets under the marginal pricing model.

“The geological reality is that the North Sea basin is dying and there are limited levels of gas for home heating left, the UK is simply running out of gas. No amount of new drilling will stop Britain’s deepening dependency on foreign gas.

“The sooner households are supported to move to alternative heating and cooking systems the better.”

ENDS

The full response to the Ofgem consultation is available to read as a pdf.

Looming crisis for 300,000 households on RTS meters

Ministers and Ofgem have been warned of a “looming crisis” for households on old-style Radio Teleswitch Service (RTS) meters in a letter from the End Fuel Poverty Coalition.

The stark warning comes as the RTS meter replacement programme shows signs of failing meaning urgent action will be needed to prevent vulnerable households potentially being left without heating and hot water.

In a letter addressed to Miatta Fahnbulleh MP, Minister for Energy Consumers, and Ofgem Chief Executive Jonathan Brearley, the Coalition raised serious concerns about the pace and communication of the meter replacement effort, which affects hundreds of thousands of households across the UK.

The RTS system – used by older electricity meters to control heating and hot water – will be switched off later this year. If an RTS meter is not replaced before the service is switched off, households risk losing access to heating and hot water, particularly where electric storage heating is used.

Customers may also lose the ability to access cheaper off-peak tariffs, leading to higher energy bills, and could face inaccurate or inconsistent billing or in some cases, the meters may stop working properly altogether.

Ofgem has been running a public awareness campaign on the issue with Lorraine Kelly explaining how to check for an RTS meter.

But the Coalition says the replacement programme is falling dangerously behind schedule, with energy suppliers unable to meet existing targets and thousands of customers, especially in rural Scotland, still without a plan for replacement.

“Based on our members’ conversations with energy suppliers, we estimate that in Scotland alone, tens of thousands of RTS meters are yet to be addressed, leaving many consumers in limbo,” the letter states.

The letter also challenges the lack of clarity around the regulator’s “no detriment” commitment, which is designed to ensure that people who move from an RTS meter to a new connection do not have to pay more for their energy.

However, there are warnings that without firm guarantees on this commitment, vulnerable consumers could face higher costs or service disruptions.

Further concerns are also raised about contradictory advice being issued by energy firms to consumers and inconsistent billing practices, with reports of customers being charged double standing charges due to legacy meter configurations.

BBC Radio 4’s You and Yours programme on 28 April highlighted the concerns raised in the letter and an Energy UK spokesperson told the programme that at the end of March 2025, 430,000 households remained on an RTS meter and efforts to replace them stood at 1,000 installations a day.

Simon Francis, coordinator of the End Fuel Poverty Coalition, commented:

“Our member organisations across the country will continue to do all they can to support the transition and raise awareness of the switch, but urgent action is now required. There is a very real risk that over 300,000 households will find their RTS meter stops working come 1 July 2025.

“With pressures on the replacement programme growing and with limited engineer availability, especially in rural areas, there’s a real risk of prolonged disruption, particularly for vulnerable households.

“Government, regulators and energy firms need to face up to the looming crisis and ramp up efforts to help people switch. At the same time we now need to ensure contingency measures are in place for those who do not make the deadline and require energy suppliers to ensure fair metering and billing practices.”

The letter was also copied to devolved administrations in Scotland and Wales, including Gillian Martin MSP and Rebecca Evans MS.

Frazer Scott, Chief Executive of Energy Action Scotland, said:

“Time and time again consumers are left in the dark by the Government and an energy industry failing to deliver on its promises to deliver improvements.

“Let’s not forget that many of these firms are making significant profits from customers and yet their customers, including many vulnerable people, may be left without working heating and hot water or facing the prospect of spiralling costs in just a few weeks time.

“The impact of failure in the switchover process on the health and wellbeing of people across Scotland don’t bear thinking about.”

ENDS

The letter can be read in full in this pdf.

Image of an RTS meter by Richard Harvey – Own work, Public Domain, Wikipedia: https://commons.wikimedia.org/w/index.php?curid=3063595

Energy industry profits hit half a trillion pounds while bills rise

Energy giants have pocketed over £500 billion in profits since the energy crisis started according to an updated analysis of company reports. [1]

Researchers working for the End Fuel Poverty Coalition examined the declared profits of firms ranging from energy producers (such as Equinor and Shell) through to the firms that control our energy grid (such as National Grid and UK Power Networks) as well as suppliers (such as British Gas).

As energy prices increase by 6.4% this week for households across the country, the analysis shows that almost half of the total profits since 2020 (£207bn) are generated by firms with extensive involvement in the gas industry.

The cost of every unit of gas used will surge by over 10% from 1 April, meaning the cost of gas is now double what it was in winter 2020/21. The cost of gas not only affects households’ ability to keep warm, but also sets electricity prices up to 40% of the time under energy market rules.

Also profiting are the firms and business units responsible for electricity and gas transmission and distribution. These are the “network costs” consumers pay for maintaining the pipes and wires of the energy system and are usually paid for through standing charges on energy bills.

But earlier this year, Citizens Advice found that these firms had made an estimated £4bn in extra profits after a “misjudgement” by regulator Ofgem. Previous research also found that the same firms underspent on vital grid improvements by almost £1bn.

A spokesperson for the End Fuel Poverty Coalition, commented:

“As energy prices remain at levels way above the 2020 benchmark, the energy industry is taking us for April fools. We need politicians and regulators to act to bring down energy bills now.

“This means radical reform of the electricity pricing markets, investment in homegrown renewables and taking on the vested interests of an energy industry which makes billions of pounds of profits every year at consumers’ expense.

“In addition, we need to see steps taken immediately to help households reduce energy consumption in a safe way, by improving energy efficiency of buildings. This is why MPs need to push the Chancellor to commit the full £13.2bn funding needed for the Warm Homes Plan through the Comprehensive Spending Review.”

Maria Carvalho, from Medact which represents frontline health workers, commented:

“The record-breaking profits of energy giants come at an unbearable cost to public health.

“Cold homes cause illness and drive patients into already overwhelmed NHS services, while energy debt traps families in a cycle of financial and mental distress.

“Every pound pocketed by these corporations is a pound that could have kept someone warm, well, and out of hospital. The government must act now to rein in energy profiteering and invest in a fair, sustainable energy system that protects health rather than harming it.”

Jonathan Bean from Fuel Poverty Action added:

“Without radical reforms, millions of us will continue to suffer and die in energy starvation due to inflated energy pricing. We are not getting the benefit of our increasing supply of cheap renewable energy.”

Warm This Winter spokesperson Caroline Simpson said:

“Frankly this is shameful. Whilst the whole of the UK struggles with ‘Awful April’ these energy profiteers are celebrating ‘Awesome April’ with their latest results showing they made over half a trillion pounds in profits since 2020.

“It’s incomprehensible in so many ways and plain wrong that a mere 20 companies have made so much money out of people’s misery. The industry can spare a few of their many billions to bring down bills, pay for energy efficient homes and switch from oil and gas to save the planet.

“Now more than ever, we need to give everyone in the UK the peace of mind that comes with having energy security from homegrown solar and wind so we’re not at the mercy of either profiteering oil and gas companies or hostile countries.”

ENDS

[1] The data was compiled from publicly available accounts and financial statements, using the best available measure of company profits. 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.

Full information available at: https://www.endfuelpoverty.org.uk/news/energy-firm-profits-tracker/ Data as at 21 March 2024.

The data was compiled by freelance business journalist David Craik. David’s experience has included writing business and city news and features for national newspapers and magazines such as The Daily Mirror, Sunday Times, Wall Street Journal, Scotsman and Daily Express. Much of his content focuses on company financial results and reports in the energy sector and on personal finance issues including wealth management, property, investing and managing household budgets and bills. If any firm wishes to correct the record, please email info@endfuelpoverty.org.uk.