Big Six energy companies’ profits ‘increased tenfold since 2007′

‘Profits of the Big Six energy companies increased tenfold from 2007 to 2013, fresh analysis from the competition watchdog investigating the sector shows.

The six largest firms earned a combined £110 million from their domestic gas and electricity supply businesses in 2007, before paying interest and tax. By 2013 that had increased to more than £1.1 billion, the analysis, published by the Competition and Markets Authority (CMA) on Monday night, shows.

That equates to average profits of just £2.31 per fuel, per household in 2007, rising to £23.71 per fuel, per household in 2013.’

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