Energy giants' £420bn profits as public forced to scrape by

SOME of the biggest energy firms have seen their profits soar by £420billion in four years while families struggle to pay rising bills amid the cost-of-living crisis.

- Liz Perkins

UK giants British Gas, Shell and BP are among those to have benefitted the most, according to an analysis of 20 utility firms.

Shell has built up £38.4billion in global profits since 2020, with BP at £38.4billion and British Gas's owner Centrica earning £7.4billion.

Figures from the End Fuel Poverty Coalition reveal Norwegian state-owned giant Equinor, which supplies more than a quarter of the UK's gas, has made £117.4billion worldwide in four years.

Suffering

Coalition spokesman Simon Francis said yesterday: "The energy firms are taking us for April fools.

"These numbers may look like fantastic amounts to shareholders but the reality is that these profits have caused pain and suffering among people living in fuel poverty for the last few years."