Energy companies in the UK reported profits exceeding £23.1 billion in 2025, with expectations of higher bills for households this summer. The figures, up from £22.7 billion in 2024 according to the End Fuel Poverty Coalition, do not include earnings from the Iran conflict.
Major oil companies like BP and Shell are anticipating strong financial performances, with BP set to release its results soon, followed by Shell in early May. The surge in oil prices, reaching nearly $120 per barrel due to the closure of the Strait of Hormuz, is predicted to lead to a significant increase in energy bills for UK homes starting in July.
Analysts forecast the energy price cap could rise to £1,837 per year, up from the current cap set at £1,641. Households using heating oil and LPG energy have already experienced steep cost hikes, prompting government support measures.
Critics, including Simon Francis from The End Fuel Poverty Coalition and Robert Palmer from Uplift, have condemned the energy companies for profiting while consumers struggle with rising bills and global conflicts drive prices higher. They advocate for a shift towards renewable energy sources and increased financial assistance for those most affected, calling for a focus on alleviating financial burdens on the public.
Research conducted by the End Fuel Poverty Coalition revealed a slight decrease in profits from energy firms compared to the peak in 2023 during the Ukraine war. The analysis covered 30 energy companies, encompassing producers, grid operators, and suppliers.
