so a household using a typical amount of energy will pay £2,500 a year.
The government's windfall tax only applies to profits made from extracting UK oil and gas. The rate was originally set at 25%, but has now been increased to 35%. However, companies are able to reduce the amount of tax they pay by factoring in losses or spending on things like decommissioning North Sea oil platforms. It has meant that in recent years, energy giants such as BP and Shell have paid little or no tax in the UK.The annual profit figure far surpassed Shell's previous record set in 2008. The company also said it had paid out $6.3bn to its shareholders in the final three months of 2022, and that it planned another $4bn share buyback.
Labour's shadow climate change secretary Ed Miliband said: "As the British people face an energy price hike of 40% in April, the government is letting the fossil fuel companies making bumper profits off the hook with their refusal to implement a proper windfall tax.
While fleecing the sheep.
And our government leaders are laughing all the way to the banks, their banks.
The few cream it in, but when the workers ask for more they are demonised. That’s the selfish UK way thanks to Tory doctrine.
It really is time for DefundBBC to accelerate! How much was a litre of petrol in 1908? British company making enough revenue for UK pensions to afford pensioners to pay BBC license fee is being undermined by BBC on hourly basis! Shell Keir_Starmer RishiSunak TiceRichard
How much would the BBC propose to give to Shell and other private companies in the years when they make losses?
This country is broken
I’d like to hear about their record expenditures
madness
Cool. So whens this trickle down economy thing going to happen exactly?
The current price cap system basically assure they can profiteer on ordinary people!
Among the winners in Ukrainian conflict
Then why is shell energy on it's knees and why is the rest of the Company not shoring it up to prevent the customers having to bear the brunt of yet another supplier collapse?
Stock up on wood burners boys
Scum
Legalised criminals that's what they are and the government are complicit in their greed.
And the reason?
Isn't late stage capitalism a wonderful thing
We need millions on the streets. We need to fight against this plunder of our wealth, this destruction of our lives, this murder.
Hopefully they double the prices again this year!
*record inflation* People be like: 'Why are these numbers so big?'
Wankers!!
😳
So they Rob the drivers blind and brag , Because this discussing bunch of fake British MPs Will never tax them
Aaww, glad to see rich Tory MP friends doing so well
Bad reporting as only 5% of which was made in the UK
Great news for pension investments ! Every little helps
The rich profit as people suffer.
Remember this at the next price rise
And only 2billion was made in the UK
Shell reports highest profits in 115 years should also mean Shell pays highest tax bills in 115 years something tells me governments won't enforce that ShellProfits
So there wasn’t a fuel emergency after all it was another con to rip us off & make the rich richer
The article says it all..
The weather is nice, and I'm debating whether to turn on the heating for 15 minutes and walk to work or take the car. Hey, we choose what we do.
ofc they did, they're let loose to charge wtf they want
As we suffered, one was busy making abnormal profits!!!
Shell_UKLtd next bill is on you
Fantastic news for my private pension we need these businesses to do well. Unlike those working in the public sectors with their fabulous pension that us tax payers pay for.
profiteering
If the world wanted world peace, the price of oil would be $0.99 per barrel, and then the world would be busy developing and extracting green energy, and not information, proxy, economic and sometimes actual wars with countries where traditional energy carriers are in abundance.
And pensioners, families, and NHS staff continue to freeze.
I wonder why
That Conservative govt is incompetent or colluded with them.
Shell do not make a great deal of their profits in the UK and I assume this is largely because they are avoiding paying UK tax by shunting profits to offshore tax havens.
It’s appalling. Renationalise
If bills hadn't gone up then fine but they did go up, by a lot, so this doesn't strike me as a deserved profit.
How energy providers buy gas, elec etc needs to change. They are made to pay the highest price - hence we are charged the highest price.
Thank god I’m long energy in the ISA that I’ve been saving for my entire life, and decided to not have children as I did not want to rely on state handouts in order to raise them.
What do you make of them ? You’re the journalists.
This result confirms that ofgem is so far wrong in it's decisions to hand greater returns to suppliers. Consumers are being lied to by the energy producers, suppliers, ofgem and our useless government.
Even more baffling is that Shell's claims it's electricity is '100% from renewable sources', yet the price still rises for consumers.
Vulgar. Absolute thieves.
Kawa Bonga!
Is this a serious question? As journalists you should be understanding how we can have fuel poverty whilst energy companies make vast profits. Please, do your job.
What do you make of it, BBC? Isn't it your job to be as angry about it as us.
Why wouldn’t they? It is not as if we are going to take to the streets with rage like the French do!
Scum
I want a shell
Not a surprise when gov't force energy suppliers to buy at the highest possible rate, stick the public with as much of the burden as possible then subsidize it further with public funds. Fossil fuel profits are being subsidized by the taxpayer
Shell_UKLtd are just being Shell It is RishiSunak 10DowningStreet that needs to man up, grow a back bone and do something for his country.
Obscene. Making their profits by causing an astronomical strain on regular folks income, when it’s not like they have any choice at all to go elsewhere
Obscene amount of profit when there are thousands, maybe millions of people suffering because of the EnergyCrisis oilprice EnergyBills CostOfLivingCrisis
All this surprise about the blatant fleecing consumers is astounding considering the energy giants all announced record profits last year .
This Tory government and this Labour globalist opposition think this is perfectly fair. Don’t let them get away with it at the next election
A huge FU to everyone struggling.
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