Millions of people in the UK are currently facing a major cost of living crisis, with soaring energy bills at the heart of the problem. On April 1st, Ofgem raised its energy price cap by £693 to £1,971 a year - the largest increase since the cap was introduced in 2019.
The sudden increase in energy bills, which follows months of spiralling wholesale gas prices, has prompted widespread concerns about the potential implications. In particular, there are fears that it will lead to a sharp increase in fuel poverty.
With energy bills shooting higher, there’s also a lot of people asking questions about the profits suppliers are making and whether they can be justified. So who owns our major energy suppliers - and how much profit are they making?
