London Daily

Focus on the big picture.
Thursday, Mar 26, 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
UK Government Rejects Cover-Up Claims After Theft of Former PM Aide’s Phone
Cyprus Opens Strategic Talks with UK Over Sovereign Base Areas
UK Faces Risk of Sharp Inflation Surge Despite Stable Pre-Crisis Figures
UK Police Arrest Two Over Suspected Antisemitic Arson as Iran Link Investigated
UK Inflation Holds at Three Percent Ahead of Oil Price Shock from Iran Conflict
UK Fuel Prices Face Upward Pressure as Global Oil Trends Raise Cost Outlook
Girlguiding UK Sets September Deadline for Membership Policy Change Affecting Trans Participants
Germany and UK Accelerate Wind Power Expansion to Strengthen Energy Security
UK Moves to Ban Cryptocurrency Donations to Political Parties Over Foreign Influence Concerns
UK and Turkey Finalise Major Air Defence Agreement Worth Billions
Apple Introduces Mandatory Age Verification for iPhone Users in the UK
Diverging Views Emerge Over Meghan Markle’s Planned Australia Appearance
Trump Signals Frustration with UK Leadership Amid Diverging Approaches to Iran Conflict
UK Government Takes Control of Hunterston B as Landmark Nuclear Decommissioning Begins
UK Public Inflation Expectations Jump Sharply in March, Raising Pressure on Bank of England
UK Ministers Warn Expanded North Sea Drilling Would Deepen Exposure to Global Energy Volatility
Delayed UK Defence Investment Plan Leaves Suppliers Under Severe Financial Strain
Can Iran Strike the UK? Assessing the Real Military Threat as Conflict Escalates
Sanctioned Iranian Banker Linked to Luxury Marbella Villa Through UK Corporate Structure
Casey Bloys Navigates HBO Max UK Launch, Paramount Integration and Industry Buzz Over Netflix Meeting
Iran Conflict Sparks Sharp Turbulence in UK Mortgage Market, Reaching Pandemic-Era Disruption Levels
Major Donor Urges University of Kentucky to Reconsider Mitch Barnhart’s Post-Retirement Role
United Kingdom Moves to Lead International Effort to Reopen Strait of Hormuz
UK Police Investigate Targeted Attack on Jewish Ambulance Vehicles
UK Police Investigate Targeted Attack on Jewish Ambulance Vehicles
Senior UK Advocate Criticises Barnhart Retirement Appointment, Calls for Reconsideration
UK Finds No Evidence of Direct Iranian Threat to Britain, Says Prime Minister Starmer
Assessing Iran’s Strike Capability and the UK’s Readiness Amid Rising Tensions
NATO Unable to Confirm Iran’s Role in Strike on UK-US Base as Tehran Denies Involvement
University of Kentucky’s Youling Xiong Receives SEC Faculty Achievement Award for 2026
Trump Highlights Satirical Portrayal of UK Leadership Amid Talks with Prime Minister Starmer on Iran Conflict
Trump Highlights Satirical Portrayal of UK Leadership Amid Talks with Prime Minister Starmer on Iran Conflict
UK Fuel Prices Surge Toward Crisis Levels as Experts Warn of Further Sharp Increases
UK Fuel Prices Surge Toward Crisis Levels as Experts Warn of Further Sharp Increases
Duchess of Sussex Secures ‘As Ever’ Trademark Rights in Australia Ahead of High-Profile Visit
UK Reaffirms Security as Officials Reject Claims of Immediate Iranian Missile Threat
Rising Middle East Tensions Spark ‘Trumpflation’ Debate Over Impact on UK Households
UK Minister Says No Evidence Iran Can Strike Europe Despite Heightened Warnings
British-Iranians Voice Safety Concerns to Authorities as Regional Conflict Intensifies
Confirmed Meningitis Cases Linked to Kent Outbreak Revised Down to Twenty
UK Government Sees No Evidence Iran Can Strike London Amid Rising Regional Tensions
Debate Grows Over Recognition of Indigenous Cultural Icons in the United Kingdom
Iran Missile Launch Toward Diego Garcia Raises Questions After Failed Strike on US–UK Base
Donald Trump Amplifies Viral Satirical Clip Highlighting UK–US Political Dynamics
UK Satirical Show Draws Attention with Sketch Referencing Trump and Prince Andrew
Meghan Markle’s Possible UK Return Sparks Renewed Attention on Sussex Role
Starmer Convenes Urgent Talks on Cost-of-Living Pressures Linked to Iran Conflict
Starmer Convenes Urgent Talks on Cost-of-Living Pressures Linked to Iran Conflict
UK Investors Eye Bargain Shares Ahead of ISA Deadline Amid Market Volatility
UK Investors Eye Bargain Shares Ahead of ISA Deadline Amid Market Volatility
×