London Daily

Focus on the big picture.
Thursday, Jul 23, 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 Reviews Long-Term Balance Between Cost Relief, Industry Support, and Public Investment Priorities
BBC Could Receive Permanent Royal Charter Under Government Proposal
Northern Ireland Proposes End to Severe Weather Exemptions for Electricity Compensation Rules
Andy Burnham Holds Talks With UK Devolved Leaders on Regional Cooperation and Devolution
House of Lords Launches Inquiry Into Risks Facing UK Democratic Institutions
ScottishPower Renewables Plans Major Rebuild of Whitelee Wind Farm With Fewer Larger Turbines
UK and Italy Leaders Discuss Global Combat Air Programme and Future European Cooperation
UK Government Announces Six Hundred Million Pound Aerospace Investment Package at Farnborough Airshow
European Union Approves UK Participation in Ninety Billion Euro Ukraine Support Loan Framework
Rolls-Royce Warns UK Government Over Jet Engine Funding Decision and Future Manufacturing Plans
UK Inflation Falls to Two Point Six Percent in June as Fuel and Food Prices Ease
Andy Burnham Begins Premiership With Two Pound England Bus Fare Cap and Electricity Tax Cut Plan
YouGov Poll Shows Tight Competition Among UK Political Parties
Space Technology Investment Expands Through UK-US Cooperation at Farnborough Airshow
UK Opens Final India Young Professionals Scheme Ballot for Three Thousand Applicants
United Kingdom Approved for Ukraine Financial Support Initiative With EU Partners
UK and Ireland Leaders Discuss Security, Energy and Regional Cooperation
British Heart Foundation Identifies Ten UK Areas With Severe Shortages of Defibrillators
Former Southern Water Executives Charged Over Alleged Water Test Manipulation Scheme
IMF Warns UK Economic Growth Will Slow to One Percent in 2026
UK Inflation Falls to Two Point Six Percent in June as Food and Energy Costs Ease
United Kingdom Joins European Union Loan Mechanism to Support Ukraine’s Defense Needs
Prime Minister Andy Burnham Introduces Two-Pound Bus Fare Cap and Energy Tax Relief Measures Across England
Northern Ireland Secures Additional Infrastructure Funding From UK Treasury
Wales Approves Port Investment Plans to Support Green Energy Supply Chains
UK Financial Regulator Simplifies Stock Market Rules to Attract More Listings
UK Reports Decline in Small Boat Crossings Across the English Channel
UK Government Creates Emergency Support Fund for Financially Pressured Universities
Scottish Government Launches Economic Strategy Focused on Innovation and Renewable Industries
UK Expands Sustainable Farming Incentives to Support Environmental Measures
UK Government Introduces New Neighbourhood Policing Standards Across England and Wales
UK Competition Regulator Opens Review of Artificial Intelligence Foundation Models
UK Deepens Indo-Pacific Security Cooperation After Talks With Singapore and Japan
UK Announces Rail Modernisation Plan for Northern England With New Infrastructure Funding
UK Government Updates Housing Planning Rules to Accelerate Residential Construction
UK Approves Major North Sea Offshore Wind Project to Support Clean Power Goals
UK Health Service Begins Major Digital Upgrade to Cut Hospital Waiting Times
Bank of England Holds Interest Rates Steady as UK Inflation Pressures Remain Persistent
UK Universities and Industry Expand Space and Defense Research Partnerships
House of Lords Approves Social Housing Bill Amendments on Shared Ownership Rights
House of Lords Advances Civil Aviation Bill With New Passenger Protection Measures
UK Government Suspends Tariffs on Fertilizer and Food Imports to Reduce Costs
Russell Group Universities Support New UK Business Department Focused on Innovation
UK Parliament Opens Inquiry Into Transport Barriers Facing Young Jobseekers
Home Builders Federation Calls for Lower Costs as New UK Government Sets Housing Priorities
Andy Burnham Meets UK Devolved Leaders to Strengthen Regional Cooperation
Andy Burnham Holds First International Calls With Trump, Macron, and Zelenskyy
Andy Burnham Reshuffles Cabinet With John Healey Appointed Chancellor of the Exchequer
Andy Burnham Government Removes VAT From Electricity Bills to Cut Household Costs
Andy Burnham Becomes United Kingdom Prime Minister After Sir Keir Starmer Resigns
×