This is up from £22.7billion in 2024, according to new analysis by End Fuel Poverty Coalition – but does not take into returns generated by the Iran war
Energy firms posted over £23.1billion in profit in 2025 as UK households brace for higher bills this summer.
This is up from £22.7billion in 2024, according to new analysis by End Fuel Poverty Coalition – but does not take into returns generated by the Iran war.
Oil giant BP has already said it expects to report an “exceptional” performance in the first three months of the year, while Shell is anticipating “significantly higher” profits.
BP will post its next results on Tuesday, with Shell following on May 7.
It comes after the price of oil soared to almost $120 a barrel at one stage, following the closure of the Strait of Hormuz.
Higher oil prices mean UK homes are now set to be clobbered by soaring energy bills from this July, with analysts at Cornwall Insight forecasting the price cap could rise to £1,837 a year.
Ofgem will announce its July price cap level by May 27. The price cap is currently set at £1,641 a year.
Households on heating oil and LPG energy have already seen energy costs soar, prompting the Government to provide a support package.
Simon Francis, 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.”
Robert Palmer, Uplift Deputy Director, said: “It’s appalling that while millions are worrying over energy bills, these figures show that even before the war in Iran, energy companies were raking in billions of profits.
“The war is going to make all of this worse – with higher energy bills for most of us, while around the world oil companies are making an obscene $30million (£22million) an hour in unearned profits.
“The UK’s dependence on oil and gas is making all of us poorer. All except for the oil bosses and their shareholders who, once again, are profiting at our expense.
“That’s why we must ramp up renewables, and upgrade homes with solar power, batteries and heat pumps. It is the only way to insulate ourselves from energy shocks and protect the climate.
“We also need to support those who need it most with financial help. We should be putting these profits back in people’s pockets, not making the public pay for what is a humanitarian and economic disaster.”
Researchers working for the End Fuel Poverty Coalition examined the declared profits of 30 energy firms, including producers, grid operators and suppliers.
The figures are a slight decrease from the £27.6billion posted in 2023 during the height of the Ukraine war.
