Energy companies announce billions in profits after 'cost of living crisis' saw households unable to afford heating

Two elderly people sitting with a blanket by a heater
As millions of families in the UK are in fuel poverty energy companies announce record profits for the first half of 2023, totalling in the billions (Image credit: Getty Images)

Energy firms have announced billions in profits after regulators raised the energy price cap, the maximum amount energy suppliers can charge consumers for each unit of energy.

Industry giants like Eon, Scottish Power, and EDF announced bumper profits after Ofgem increased the industry’s price cap after setting it lower in previous years, sparking energy price rises.

Sam Webb

Sam is based in Coventry and has been a news reporter for nearly 20 years. His work has featured in the Mirror, The Sun, MailOnline, the Independent, and news outlets throughout the world.  As a copywriter, he has written for clients as diverse as Saint-Gobain, Michelin, Halfords Autocentre, Great British Heating, and Irwin Industrial Tools. During the pandemic, he converted a van into a mini-camper and is currently planning to convert his shed into an office and Star Wars shrine.