Which energy firms met Boris Johnson – and how big are their profits?
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 powergeneration 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.
EonProfits: €4.06bn (£3.4bn) in first half 2022Chief executive: Leonhard BirnbaumHis pay: €1.2m (£1m) in 2021Headquarters: Germany
National GridProfits: £3.4bn in 2021-22Chief executive: John PettigrewHis pay: £6.5m in 2021-22Headquarters: UK
RWEProfits: €2.6bn (£2.2bn) in first half 2022Chief executive: Markus KrebberHis pay: €4.3m (£3.6m) in 2021Headquarters: Germany
ØrstedProfits: €1.75bn (£1.5bn) in first half 2022Chief executive: Mads NipperHis pay: €2m (£1.7m) in 2021Headquarters: Denmark
CentricaProfits: £1.3bn in first half 2022Chief executive: Chris O’SheaHis pay: £775,000 in 2021 (£1.1m bonus waived)Headquarters: UK
SSEProfits in 2021/22: £1.2bnChief executive: Alistair Phillips-DaviesHis pay in 2021: £4.5mHeadquarters: UK
UniperProfits: €1.2bn (£1bn) in 2021Chief executive: Klaus-Dieter MaubachHis pay: €1.9m (£1.6m) in 2021 Headquarters: Germany
Scottish PowerProfits: £925m in first half 2022Chief executive: Keith AndersonHis pay: £1.35m in 2021Headquarters: UK DraxProfits: £225m in first half 2022Chief executive: Will GardinerHis pay: £2.7m in 2021Headquarters: UK
Lightsource BPLosses: £42.3m loss in 2020Chief executive: Nick BoylePay of highest paid director, thought to be CEO: £632,000 in 2020Headquarters: UK
EDF EnergyLosses: €5.3bn (£4.5bn) loss in first half 2022Chief executive: Simone RossiPay of highest paid director, thought to be CEO: £1m in 2021Headquarters: UK (but owned by the French government)