Energy infrastructure companies have pocketed nearly £4bn in excess profits over the past four years as British families have suffered from escalating energy bills in the cost of living crisis, new analysis from Citizens Advice (CA) suggests.
In fresh analysis of Ofgem’s performance figures, CA said that energy network companies, which provide pipes and cables to people’s homes to deliver electricity, have been profiting from the high inflation driving the cost-of-living crisis.
Dame Clare Moriarty, chief executive of Citizens Advice, said: “We now know that while households have struggled with sky-high energy bills, network companies have been making astronomical profits.
Energy network firms are monopoly companies with no competitors, so consumers are reliant on regulator Ofgem setting price control charges.
A spokesperson for Energy Networks Association, representing the GB’s electricity networks, said: “Great Britain has one of the most reliable grids in the world, delivering power to 28 million customers, supporting 26,000 jobs and 1,500 apprenticeships and trainees.
