Suppliers making £168 each second

Between 1 July 2019 and 31 December 2019, at least 10% of people who switched energy supplier for both gas & electricity with Uswitch saved £479 or more.

An in-depth analysis into the often complex accounts of major energy suppliers has found that they make a staggering £168 each second, according to an article published by This Is Money.

The analysis only covered the four firms that had disclosed their financial results for 2011 - EDF Energy, British Gas, nPower and Scottish Power.

Between them the four companies made a total of £5.3 billion in profit during 2011; the biggest chunk of that figure belonged to British Gas - who announced profits of £2.1 billion.

Director of policy and external affairs at Consumer Focus, Adam Scorer, commented on the current state of the energy market.

He said: "These results show the energy industry is virtually recession-proof.

"Consumers will be baffled about how such healthy profits are being made despite a big dip in energy use over the mild winter," Mr Scorer added.

E.ON is set to release its financial results today, while Scottish & Southern will disclose its results later in May.

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