The UK arm of EDF Energy recorded record profits of £1.59 billion last year, despite seeing an 8% drop in sales. According to EDF this drop in sales in due to the mild winter and consumers buying less gas.

Chairman and Chief Executive of the EDF group, Henri Proglio, said: “2011 was marked by solid financial and operating results despite a troubled environment. In France and the United Kingdom, nuclear generation exceeded targets, underscoring the marked improvement in operating performance.” (www.energylivenews.com, 16/01/2012)

Consumer Focus have voiced their concerns as they are unsure how EDF’s profits were able to rise while their sales have fallen, they have questioned whether or not energy prices could be cut further.

Director of Energy at Consumer Focus, Audrey Gallacher, said: “We need successful, profitable companies. But consumers need to know big profit margins are not being made needlessly at their expense. The issue is not how much money is made over one year, it’s whether the market is working as a whole, pricing is fair and if suppliers are providing enough transparency.” (www.energylivenews.com, 16/01/2012)