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Shell reports highest profits in 115 years

Thursday, 2 February 2023

Shell had said it did not expect to pay any UK tax this year as it is allowed to offset decommissioning costs and investments in UK projects against any UK profits.

In 2015 when I moved in to my house I was paying £90 per month for electricity and gas, with the heating on for three or four hours in the morning and around five hours in the evening at 21°C from October until March. 

Recently I have been paying Shell £370 per month. My electrical use is down by about 40% from 2015 and the heating on at 16°C for two hours total each day. 

They tell me it's because of the wholesale cost of electricity and gas due to the events in Ukraine. Yet they're announcing £32.2bn in profits, double last year and their highest in 115 years and not paying tax on that.