Energy companies have generated profits of over £26.2 billion in the first three months of 2026, with around £3 billion generated on the firms’ UK operations.
The UK generated returns equate to £102 in profit for every household in the UK in just three months.
The figures have been compiled following trading updates by a host of household name energy firms in recent weeks as the conflict with Iran and the closure of the Strait of Hormuz delivered a significant war windfall for oil and gas firms at the same time as households face rising bills.
Simon Francis, coordinator of the End Fuel Poverty Coalition said: “Around a quarter of every energy bill is taken in profit by a range of firms involved in the industry and that figure could well grow thanks to the war profits still being generated by the energy industry.
“Not only do these firms profit off the back of a war which has killed thousands of civilians, but the profits are also built on the backs of financial suffering in UK households.
“It can’t be right that while the public see their energy bills increase, energy firms make billions and employ rafts of accountants to maximise their profits and lobbyists to campaign against the Windfall Tax.
“The only winners from the conflict with Iran appear to be the oil and gas giants who control the prices we pay.
“The sooner we get off the fossil fuel price rollercoaster through increased energy efficiency of buildings and more renewables, the better.”
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