In this article, we discuss 5 biggest energy companies in the UK. If you want to see more of the biggest energy companies in the UK, go directly to 10 Biggest Energy Companies in the UK.
5. Iberdrola (Scottish Power)
2021 Revenue: $46.276 billion
Iberdrola is a multinational based in Spain that owns one of the UK’s biggest energy companies, Scottish Power. As a leading utility, Scottish Power supplies electricity to more than 5.5 million customers in the UK and is the largest producer of wind energy in the nation. The company also generates energy through hydro-electric power stations and other sustainable resources.
As for Iberdrola, the company is a leading renewable multinational that expects by the end of the decade to”exceed €65 billion in network assets and 100,000 MW of capacity, more than 80% renewable, thanks to new investments of between 65 and 75 billion between 2026 and 2030″. In 2021, Iberdrola generated revenue of $46.276 billion, ranking it among the largest energy companies in the world.
4. E.ON (E.ON Energy UK)
2021 Revenue: $91.522 billion
E.ON is German electric multinational that owns one of the UK’s largest energy companies, E.ON Energy UK. According to the company, E.ON Energy UK is one of the UK’s leading energy providers with 8,000 employees and 5.6 million customers in the country. Given its focus on renewables, E.ON Energy UK has invested £3.5 billion in UK renewables since 2009 and the company will likely invest even more in the future.
Like E.ON Energy UK, E.ON is also a leading utility company given it is one of Europe’s largest operators of energy networks and energy infrastructure. In 2021, E.ON reported revenue of $91.522 billion, making it one of the largest companies in the world.
3. Électricité de France (EDF Energy)
2021 Revenue: $99.926 billion
Électricité de France is a French company that owns one of the UK’s biggest utilities, EDF Energy. EDF Energy is Britain’s biggest generator of zero carbon electricity with an operational portfolio of 36 wind farms and an ambitious vision for solar and battery storage. For the future, EDF Energy plans to invest in low carbon technologies in the UK worth more than £50bn by 2035. According to the company, the investment could amount to 15GW of wind, solar and nuclear and meet around one fifth of UK demand.
As for Électricité de France, the company is also an electric utility that is also dedicated to increasing the share of renewable energy generation. In 2021, Électricité de France had revenue of almost $100 billion, which ranks it #3 on our list of 10 Biggest Energy Companies in the UK.
2. BP plc (NYSE:BP)
2021 Revenue: $164.195 billion
BP plc (NYSE:BP) is a leading oil and gas producer based in the UK that ranks #2 on our list of 10 Biggest Energy Companies in the UK with revenues of $164.195 billion for 2021. Given that oil and gas prices are higher in 2022 than 2021, the company’s 2022 revenue will likely be higher than what it was last year. In terms of the near term, BP plc (NYSE:BP) said of the third quarter and what the company expects in the fourth quarter,
Starting with gas prices where we continue to see significant volatility. During the quarter, reduced Russian pipeline imports led to sharp increases in both spot and futures prices in Europe with the quarter average TTF price rising by 92%. Prices also rose in the US as summer cooling demand offset the loss of Freeport LNG exports. Looking ahead to the fourth quarter, we expect gas prices to remain elevated and volatile with the outlook heavily dependent on Russian pipeline flows and the severity of the Northern Hemisphere winter.
Moving to oil prices. During the third quarter, Brent averaged $101 per barrel, down from $114 per barrel in the second quarter. This reflected increased uncertainty around the economic outlook and the continued COVID-related lockdowns in China. Despite this uncertainty, we expect oil prices to remain elevated in the fourth quarter given the backdrop of low inventory levels, OPEC+ supply cuts, limited supply growth and uncertainty around Russian exports.
1. Royal Dutch Shell plc
2021 Revenue: $272.657 billion
With 2021 revenue of $272.657 billion, the oil and gas supermajor Royal Dutch Shell plc ranks #1 on our list of 10 Biggest Energy Companies in the UK. Given oil and gas prices are higher in 2022 than in 2021, there’s a good chance that Royal Dutch Shell plc’s revenue for 2022 will also be higher. With the high oil and gas prices, Royal Dutch Shell plc reported adjusted earnings of $9.5 billion in Q3 2022 and adjusted EBITDA of $21.5 billion.
You can also take a look at 15 Largest IPOs of All Time Worldwide and 20 Most Admired Companies in the World in 2022.
