Simon Francis, coordinator of the End Fuel Poverty Coalition, said: “While millions of UK households face annual bills forecast to rise to nearly £2,000 from July, Equinor is posting more massive profits and handing millions to its shareholders through share buy backs and dividends.
“This company helps set the price we pay for our gas through its role extracting fossil fuels from the UK North Sea via a venture with Shell and through its deal with Centrica to import Norwegian gas.
“These results are a reminder of exactly who gains from the Iran conflict and the UK’s continued dependence on fossil fuels.
“The companies profiting from global market volatility are the same ones lobbying to lock households into an expensive and volatile energy system for decades to come, meaning profits flow to their executives and shareholders.
“What will make a real difference is breaking the link between electricity prices and gas markets, accelerating home insulation and clean heating while ensuring that the billions in profits made during this crisis are taxed and used to provide proper support for the households who need it most.
“That is the only route out of this continuous energy crisis.”
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