profits

Profits at British Gas owner Centrica have increased to almost £1 billion in the first half of 2023 as a result of changes to the price cap.

Oil and gas giant BP confirmed it more than doubled its annual profit in 2022 to £23 billion ($27.7 billion), up from the £10.6 billion ($12.8 billion) witnessed in 2021, owing to soaring oil and gas prices.

British multinational oil and gas company Shell recorded its “highest-ever” annual profits in 2022 amounting to £32.2 billion, with only £1.86 billion estimated to be paid via the UK and EU’s windfall taxes for the year.

bp has recorded £7.1 billion ($8.2 billion) in Q3 profit as the oil and gas giant (O&G)benefits from elevated energy prices amid the ongoing European crisis.

​Good Energy has seen its gross profit increase by 19.4% during the first six months of 2021, growing to £17.7 million.

​Iberdrola has reported continued growth of its net profit to €3.61 billion in a year that saw over 90% of its investments injected into renewables and networks.

​Higher network costs and the need to sell excess contracted power back has resulted in Good Energy’s gross profit taking a hit.

​Green firms operating in the energy industry have higher profitability on average, with the sector able to provide a framework for hard to decarbonise industries.

​Green supplier Good Energy has remained steady in 2019 as it continues its strategy of being more than a “passive” energy supplier.

Drax announces it is to eliminate coal from its generation from next year, as it unveils financial results for 2019.