Gas generator profits rose substantially during crisis

Gas generation revenues tripled last year compared to pre-Covid crisis levels, substantially exceeding increased costs of the fuel, according to a new study by University College London (UCL) researchers. Gas generators tripled their total revenues from about £6 billion in 2018/2019 to £19 billion in 2022, the report estimates. While this rise predominantly reflected spiralling gas prices over the last two years, the report says there are various indications that they exceeded this rise in input costs, suggesting that profits increased substantially.