---
title: Energy bills skyrocket as Shell reports record profits
date: 2022-02-07T11:12:43Z
modified: 2022-02-23T18:44:59Z
permalink: "https://350.org/energy-bills-skyrocket-as-shell-reports-record-profits/"
type: post
status: publish
excerpt: Enormous energy price hikes announced last week in the UK are threatening to put huge numbers of people into fuel poverty. On the very same day, fossil fuel giant Shell announced record profits.
wpid: 166431
categories:
  - Featured
featured_image: /wp-content/uploads/2022/02/mykola-makhlai-8qgUQ4HfwDA-unsplash-scaled.jpg
featured_image_alt: gas hob
author: Matilda Borgstrom
---

Last week’s news here in the UK where I live made me frustrated and angry. **Enormous energy bills price hikes announced by energy regulator Ofgem are threatening to massively increase energy bills and put huge numbers of people into fuel poverty.** \[1\] And on the very same day that the price increases were announced, fossil fuel giant **Shell announced £12bn in quarterly profits** – their highest in eight years. \[2\]

There is something very wrong with a system that allows this to happen.

And instead of quick fixes, **we need a government response that tackles the root causes of this crisis**: our over-reliance on volatile and climate-destroying gas, our leaky uninsulated homes, and the inequality in this country that means so many people are always just one bill away from poverty.

**What we need is a Green New Deal.**

> Energy price hikes announced on the same day that oil giant Shell reports highest profits in 8 years.
> 
> There’s something very wrong with a system that allows this to happen.
> 
> We need to tackle the root causes of this crisis. We need a Green New Deal –> [https://t.co/1wAqen2rEc](https://t.co/1wAqen2rEc) [pic.twitter.com/HXjYnfW5AH](https://t.co/HXjYnfW5AH)
> 
> — 350.org Europe (@350Europe) [February 3, 2022](https://twitter.com/350Europe/status/1489284551109230599?ref_src=twsrc%5Etfw)

_[Not on Twitter? You can watch the video on Youtube and share the link with friends and family.](https://act.350.org/go/273865?t=5&ak_proof=1&akid=187127%2E4765015%2ErXhcT7)_

For many, these price increases will mean they’ll suddenly be forced to make a decision between heating their homes or buying food for their families. All while fossil fuel executives and shareholders are making billions.

We need to transform this broken system. We need government programmes that invest in home insulation, poverty elimination and a transition away from climate-wrecking gas to clean renewables.

This is what the Green New Deal is. And it’s possible if enough people fight for it. [Read more about our Green New Deal work in the UK here.](https://350.org/uk/gnd/)

_PS:_ [_Follow Fuel Poverty Action to find out ways to help those who will be most impacted by the energy price crisis._ ](https://act.350.org/go/273843?t=7&ak_proof=1&akid=187127%2E4765015%2ErXhcT7)

Sources:

1: [“Energy bills to rise by 54% a year for millions” – BBC](https://act.350.org/go/273844?t=8&ak_proof=1&akid=187127%2E4765015%2ErXhcT7)

2: [“Oil giant Shell celebrates 14-fold rise in profits in ‘momentous year’ as families face surging energy bills” – The Independent](https://act.350.org/go/273845?t=9&ak_proof=1&akid=187127%2E4765015%2ErXhcT7)