One firm has reported income of £40bn
Britain is being hammered by rocketing power payments which are set to plunge thousands and thousands of individuals into gasoline poverty. In the meantime, power firms are making document income.
Right here’s a listing of the eye-watering quantities that a number of the greatest power companies have made throughout the price of residing disaster.
BP
Massive oil agency BP has secured document income off the again of excessive oil costs within the aftermath of Russia’s invasion of Ukraine. Within the second quarter of 2022, BP tripled its income to £7bn.
Shell
BP’s shareholders aren’t the one traders in main oil companies making a killing proper now. Between April and June 2022, Shell made document income of £10bn. The agency has promised to provide shareholders payouts value £6.5bn.
Centrica
British Fuel’ proprietor Centrica has additionally had an excellent 12 months. The agency confirmed working income for the six months ending in June of £1.34bn. That’s 5 instances increased than the corporate’s revenue for a similar interval final 12 months.
E.ON
Centrica’s income may look large – however they’re nothing in comparison with one other power provide firm. Within the first six months of 2022, E.ON made £3.047bn in revenue.
Scottish Energy
In comparison with the opposite power provide firms, Scottish Energy’s income seem like small change. The agency made £925m in revenue within the first half of 2022.
Nationwide Grid
The privately owned Nationwide Grid noticed its income rise to £3.4bn within the 2021/2 monetary 12 months.
RWE
German multinational power firm RWE recorded income of £2.2bn within the first half of 2022.
Drax
Biomass agency Drax reported adjusted core income of £225m within the first six months of 2022. That’s up nearly £40m on the identical interval final 12 months.
Saudi Aramco
All of those pale compared to the Saudi oil big Saudi Aramco although. The agency – owned by the Saudi state – reported income of £40bn for the second quarter of 2022.
Chris Jarvis is head of technique and improvement at Left Foot Ahead
Picture credit score: Photographs Cash – Inventive Commons
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