London Daily

Focus on the big picture.
Tuesday, Jun 30, 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 Crime and Policing Act 2026 Comes into Force with New Justice System Reforms
UK Prime Minister Hosts NATO Secretary General Mark Rutte for Security Talks at Downing Street
UK Tightens Oversight of Emissions Trading Scheme Through New Ministerial Directions
UK Issues Statement at UN Security Council on Violence in the West Bank
UK Environment Agency Clears Illegal Waste Site in West Yorkshire After Court Action
UK Resident Sentenced for Fraudulently Claiming £30,000 in Covid Business Loans
UK Launches Taskforce to Help Young People Claim Dormant Child Trust Fund Savings
UK Gambling Commission Fines Betfred Operator Petfre Gibraltar £900,000 Over Social Responsibility Failures
UK Appoints Lord Collins as Global Envoy for LGBT+ Rights
UK Expands Detention Capacity to Support Removal of Foreign Criminals and Failed Asylum Seekers
UK Resident Doctors End Strike Action After Accepting Government Pay Deal
UK Tightens Sentencing for Domestic Killings with 25-Year Starting Point for Murder of Partners
UK to Build at Least Six New Royal Navy Warships Under Expanded Defence Programme
UK Government Unveils £5 Billion Defence Investment Plan Focused on Drones and Autonomous Warfare Systems
UK Economy Records 0.6% First Quarter Growth as Services and Manufacturing Drive Steady Expansion
Welsh Government Unveils New Agricultural Support Plan Focused on Sustainability and Rural Growth
UK Teacher Recruitment Shortfalls Continue in Science and STEM Subjects
Police Scotland Expands Cybercrime Investigations Amid Rising Digital Fraud
UK Universities Warn of Risk to International Student Numbers Amid Visa Changes
UK Defence Ministry Pivots Toward Greater Domestic Military Procurement
UK Launches National Rail Review After Repeated Service Disruptions
Northern Ireland Assembly Debates Long-Term Funding Settlement for Public Services
UK Accelerates Approval of North Sea Offshore Wind Projects to Expand Energy Capacity
UK Retail Sales Fall as Households Cut Discretionary Spending in June
UK Expands Border Intelligence Cooperation with France and Belgium to Target Smuggling Networks
Scottish Government Faces Pressure Over Delays in Major Infrastructure and Transport Projects
UK Launches Multi-Billion-Pound Artificial Intelligence Infrastructure Investment Fund
National Health Service Warns of Continued Emergency Department Strain Across England
Bank of England Signals Interest Rate Hold as Wage Growth Keeps Inflation Elevated
UK Sets Emergency Fiscal Strategy as Inflation Pressures and Weak Manufacturing Growth Persist
UK Launches New Measures to Improve Safety Standards in Night-Time Venues
UK Tightens Import Rules for Low-Value Parcels to Support Domestic Retailers
UK Launches £85 Million Obesity Care Programme Targeting Early Intervention Projects
UK Commits Up to $26 Million to Ebola Response in Democratic Republic of Congo
Security Industry Authority Flags Safety Failures in Night-Time Economy Inspections
Cambridge South Railway Station Opens After £250 Million Investment
UK Moves to Close Import Duty Loophole for Small Parcels by 2028
UK Invests £85 Million in Projects to Transform Obesity Care
Berkeley Group Warns London Housebuilding Falling Far Short of Demand
UK Council Tax Arrears Rise to £9.3 Billion Amid Ongoing Household Financial Strain
Markets Watch Political Transition as Andy Burnham Emerges as Labour Leadership Frontrunner
Extreme Heat Raises Long-Term Risks for UK Inflation and Productivity, Analysts Warn
UK Health Alerts Extended as Record June Heatwave Grips England
UK Parliament Faces High-Stakes Week of Spending, Security and Industrial Legislation
UK Repeals Vagrancy Act Ending Criminalisation of Rough Sleeping in England and Wales
GB News Pundit Charged With Fraud Over Alleged Conduct as Former Labour Adviser
Reform UK Gains Parliamentary Visibility in First Senedd Opposition Appearance
Metropolitan Police Arrest Man on Suspicion of Attempted Murder After London Car Incident
Ocado Chief Executive Tim Steiner Faces Scrutiny Over £100 Million Remuneration Package
British Chambers of Commerce Downgrades UK Growth Outlook to 0.9 Percent for 2026
×