Energy profits up as households brace for higher bills

Energy firms posted over £23.1 billion in profit from UK operations in 2025, according to new analysis of company reports.

The figures, based on the returns of 30 companies heavily involved in the UK energy system, are an increase from £22.7 billion on 2024 numbers, but a slight decrease from the £27.6 billion posted in 2023 during the height of the Russian-triggered price shock.

The data does not take into account returns generated by the recent US-Israel conflict with Iran, where BP has already suggested it will make ‘exceptional’ returns and Shell could bank up to £5 billion in oil price profits.

Households on heating oil and LPG energy have already seen energy costs soar, prompting the government to provide limited emergency relief and extend support for these households to move off oil and gas.

All households will also see an increase in energy bills from July 1 when the next Ofgem price cap period starts.

Simon Francis, coordinator of the End Fuel Poverty Coalition, said: “These figures are a damning verdict on an energy system that is failing the people it is supposed to serve.

“Households were already struggling with rising bills before Russia invaded Ukraine and sent gas prices through the roof.

“Now Trump’s war in Iran is delivering a third hammer blow.

“While households face another bill rise in July and millions remain trapped in fuel poverty, the companies that control our energy supply are cashing in.”