London Daily

Focus on the big picture.
Thursday, Jun 11, 2026

Which energy firms met Boris Johnson – and how big are their profits?

Which energy firms met Boris Johnson – and how big are their profits?

Vital statistics on power-generation firms suspected of having cashed in on high energy prices

Boris Johnson met executives from some of Britain’s biggest energy companies on Thursday to discuss the cost of living crisis.

Johnson was flanked by the chancellor, Nadhim Zahawi, and the business and energy secretary, Kwasi Kwarteng. Zahawi said afterwards that the energy firms agreed to “do more to help the people who most need it” – but did not specify what that would entail.

The executives were from power-generation companies – which own assets including windfarms and nuclear power stations – rather than the oil and gas companies hit by the windfall tax, officially known as the Energy Profits Levy, after raking in bumper profits caused in part by the war in Ukraine.

However, there is a lingering threat that the levy may be extended to electricity generation companies amid accusations that they have also enjoyed a bonanza from high energy prices.

Below are the companies that attended the meeting, along with their profits and executive pay packages. While all operate in the UK, many are headquartered abroad.

Eon

Profits: €4.06bn (£3.4bn) in first half 2022
Chief executive: Leonhard Birnbaum
His pay: €1.2m (£1m) in 2021
Headquarters: Germany

National Grid

Profits: £3.4bn in 2021-22
Chief executive: John Pettigrew
His pay: £6.5m in 2021-22
Headquarters: UK

RWE

Profits: €2.6bn (£2.2bn) in first half 2022
Chief executive: Markus Krebber
His pay: €4.3m (£3.6m) in 2021
Headquarters: Germany

Ørsted

Profits: €1.75bn (£1.5bn) in first half 2022
Chief executive: Mads Nipper
His pay: €2m (£1.7m) in 2021
Headquarters: Denmark

Centrica

Profits: £1.3bn in first half 2022
Chief executive: Chris O’Shea
His pay: £775,000 in 2021 (£1.1m bonus waived)
Headquarters: UK

SSE

Profits in 2021/22: £1.2bn
Chief executive: Alistair Phillips-Davies
His pay in 2021: £4.5m
Headquarters: UK

Uniper

Profits: €1.2bn (£1bn) in 2021
Chief executive: Klaus-Dieter Maubach
His pay: €1.9m (£1.6m) in 2021
Headquarters: Germany

Scottish Power

Profits: £925m in first half 2022
Chief executive: Keith Anderson
His pay: £1.35m in 2021
Headquarters: UK

Drax

Profits: £225m in first half 2022
Chief executive: Will Gardiner
His pay: £2.7m in 2021
Headquarters: UK

EDF Energy

Losses: €5.3bn (£4.5bn) loss in first half 2022
Chief executive: Simone Rossi
Pay of highest paid director, thought to be CEO: £1m in 2021
Headquarters: UK (but owned by the French government)


* This article was amended on 12 August 2022 to remove the details of Lightsource BP, whose executives did not attend the meeting.

Newsletter

Related Articles

0:00
0:00
Close
University College London Study Links Physical Punishment to Higher Risk of Bullying
East Midlands Railway Unveils First Refurbished Train in £60 Million Modernization Programme
RNLI Issues National Water Safety Appeal Ahead of Expected Heatwave
Climate Change Raises Subsidence Risks for Millions of Homes Across Southeast England
Manchester Advances Plans for Underground Piccadilly Station With £1 Million Funding Commitment
Anti-Immigration Violence Continues in Belfast Amid Heightened Security Concerns
UK Law Locks Great British Railways Into Public Ownership
Office for National Statistics Adopts Supermarket Checkout Data for Inflation Measurement
Applied Atomics Launches With $500 Million Space Infrastructure Order Book
BYD Plans Nationwide Rollout of Ultra-Fast EV Charging Network
UK House Prices Unexpectedly Fall in May
CBI Warns UK Growth Is Becoming Increasingly Dependent on Public Spending
Makerfield By-Election Fuels Speculation Over Labour’s Future Leadership
Britain Declines to Join EU SAFE Defence Fund
UK Unveils 2040 Emissions Target Despite Strong Political Opposition
Government Orders Full Review of Palantir’s NHS Data Contract
UK Borrowing Costs Climb as Markets Price in Further Bank of England Rate Rises
Resident Doctors Confirm Five-Day NHS Strike Across England
Violent Anti-Immigrant Riots in Belfast Spark Political and Diplomatic Tensions
United Kingdom Sees Recovery in Horizon Europe Research Funding Share to 9.3 Percent
UK Inflation Holds at 2.8 Percent as Office for Budget Responsibility Flags Persistent Price Pressures
United Kingdom Launches National Anti-Fraud Framework to Combat Rising Pension Scam Losses
United Kingdom Expands Sanctions on Israeli Groups While Funding Palestinian Authority Salaries and Gaza Mine Clearance
United Kingdom Issues Three-Month Ultimatum to Major Technology Firms Over Child Online Safety Controls
United Kingdom Government Moves Toward Blanket Social Media Ban for Children Under Sixteen
Widespread Anti-Immigration Rioting Erupts Across Belfast After Knife Attack Linked to Asylum Seeker
Farmers Warn of Crop Losses Following Months of Unseasonal Rainfall
Civil Aviation Authority Launches Review of Regional Airport Operations
Met Office Issues Heat-Health Alert Across Parts of England
National Grid Introduces New Measures to Protect Winter Energy Supply
Northern England Rail Upgrades Receive Additional Government Funding
Wales Advances Green Hydrogen Strategy to Decarbonize Heavy Industry
UK Expands Recruitment Incentives to Address Shortage of STEM Teachers
High Court Opens Door to Climate Liability Claims Against Major Industrial Emitters
Police Service of Northern Ireland Investigates Major Personnel Data Breach
Defense Ministry Overhauls Procurement System to Accelerate AUKUS Submarine Program
Net Migration Remains Above Government Expectations, New Data Shows
UK and Scottish Governments Agree Framework for Expanded North Sea Wind Development
UK Treasury Launches New Tax Incentives to Boost AI and Semiconductor Investment
Bank of England Signals Continued Caution on Interest Rate Cuts
UK Unveils £10 Billion NHS Digital Modernization Plan Centered on AI Integration
Nebius Opens Major Robotics and Physical AI Laboratory in London
Bank of England Data Shows Strong Rise in New Mortgage Approvals
Network Rail Completes Landmark Upgrade of Severn Tunnel Rail Infrastructure
East West Rail Passenger Services Between Oxford and Milton Keynes Set for December Launch
GlaxoSmithKline Reportedly Pursues £7 Billion Acquisition of US Cancer Drug Developer Nuvalent
Bank of England Signals Interest Rates Likely to Remain Unchanged Despite Energy Market Risks
NHS Trusts Launch Job-Cutting Programmes as Financial Pressures Intensify Across England
More Than 130 Labour MPs Urge Ban on Trade With Israeli Settlements
Keir Starmer Orders Technology Firms to Introduce Smartphone Nudity Controls for Under-18s
×