Full Breakdown
Upcoming Energy Price-Cap Review Amid Record Firm Profits
8/17/2026, 11:48:07 AM
Upcoming Price-Cap Announcement
The energy regulator Ofgem will set the next three-month price cap on August 26. The cap determines the maximum rate suppliers may charge on standard variable tariffs, but it does not cap a household’s total bill, which still depends on actual gas and electricity consumption.
Profit Estimates for Major Energy Firms
Analysis by the End Fuel Poverty Coalition and the campaign group Uplift estimates that eight large energy companies generated more than £6 billion in profits attributable to their UK operations during 2026. This figure translates to over £200 per household across the country. The breakdown includes:
- Centrica (owner of British Gas) – adjusted operating profit £497 million for the first half of 2026.
- Shell – global adjusted earnings $9.8 billion for Q2, with an estimated £332 million linked to the UK.
- Equinor – global adjusted operating income $11.48 billion for Q2, with an estimated £172 million UK portion.
- Iberdrola – UK-related EBITDA £749 million.
- TotalEnergies – UK-related EBITDA £493 million.
- BP – UK-related EBITDA £418 million.
- Chevron – UK-related EBITDA £75 million.
- ExxonMobil – UK-related EBITDA £11 million.
These numbers are derived from the companies’ published financial results and the campaign groups’ allocation methodology, not from direct UK-profit reports.
Campaigners’ Calls for Action
Simon Francis, coordinator of the End Fuel Poverty Coalition, warned that households face higher costs while the energy industry enjoys rising profits. He urged the UK government to consider taxing these profits to fund greater household support, improve home energy efficiency, and boost domestic renewable-energy investment. Robert Palmer, deputy director of Uplift, highlighted the direct impact of higher energy costs on ordinary families and called for an accelerated transition to renewable sources.
Implications for Households
The Department for Work and Pensions confirmed that energy suppliers will continue offering a £150 Warm Home Discount this year. However, campaign groups argue that volatile international energy markets keep UK households exposed to sudden wholesale-cost spikes, and that a third of households are already on the brink of or in energy debt. They contend that without additional policy measures, the upcoming price-cap adjustment could further strain vulnerable consumers.
