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UK energy network owners made billions in excess returns, says watchdog

Summary by Financial Times
Citizen’s Advice says ‘policy failure’ by regulator means companies secured a windfall of almost £4bn

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Oil PriceOil Price

UK Energy Operators Face Scrutiny Over Windfall Profits

Citizens Advice, a UK consumer protection organization, has reported that energy infrastructure operators in the country enjoyed windfall profits paid for by consumers, all thanks to a wrong formula for calculating their returns, as devised by market regulator Ofgem. According to the consumer protection watchdog, energy network operators in the UK saw their profits swell by an excessive 4 billion pounds, or $5 billion, over the last four years w…

·London, United Kingdom
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The IndependentThe Independent

Energy companies rake in £4bn as UK families suffer sky-high bills, analysis says

Families will see their energy bills rise again in April as network companies make billions in profits, report finds

·London, United Kingdom
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Financial TimesFinancial Times

UK energy network owners made billions in excess returns, says watchdog

Citizen’s Advice says ‘policy failure’ by regulator means companies secured a windfall of almost £4bn

·London, United Kingdom
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New Civil EngineerNew Civil Engineer

Energy network companies condemned for pocketing £4bn from taxpayers through ‘loophole’

Energy network companies have been called out for pocketing up to £4bn of taxpayers’ money through a “loophole” in the system devised by Ofgem that wrongly calculates their profits. The post Energy network companies condemned for pocketing £4bn from taxpayers through ‘loophole’ appeared first on New Civil Engineer.

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uk-times.comuk-times.com

Energy companies rake in £4bn windfall as British families suffer sky-high bills, new analysis suggests – UK Times

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email 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. The consumer charity has helped almo…

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Financial Times broke the news in London, United Kingdom on Thursday, February 20, 2025.
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