FRESH profits recorded by oil giants Scottish Power and Total are a “kick in the teeth” for struggling households, campaigners said today.

Scottish Power owners, Iberdrola, reported a rise in profits in the first quarter of 2026, claiming growth is driven substantially by its regulated network operations in Britain.

The firm made nearly £1 billion in profits in Britain during the first three months of the year, up from £0.8bn in the first quarter of 2025 — a 19 per cent increase.

TotalEnergies posted that its adjusted net income — a profit measure — in its first quarter came in at $5.4bn (£4bn), up from $4.2bn (£3.1bn) in Q1 last year.

It has now launched a share buyback plan and increased dividends for shareholders.

The company has a government gas contract worth up to £8bn to supply public-sector buildings, including Downing Street and schools.

End Fuel Poverty co-ordinator Simon Francis called on ministers to tax profits to help those in poverty and “focus on reforms that will actually bring energy bills down.”

He said: “Another good day for the energy industry means another kick in the teeth for consumers.

“Energy network infrastructure is generating strong and growing returns for shareholders, yet these returns ultimately mean higher bills for households.

“Meanwhile, the consolidation of North Sea assets into ever-larger corporate entities reveals where this industry is heading, companies positioning themselves to extract maximum profit from a dying basin while bills remain high.”

Our Power campaign spokesman Liam Hainey said the figures should act as a “wake-up call” to politicians, and called on the next Scottish government to take a public stake in future renewable energy projects to ensure that communities in Scotland benefit directly from the renewable energy boom.

“People across the country will look at the enormous profits of ScottishPower’s parent company and feel an understandable sense of injustice,” he said.

“How can it be right that almost all of the profits made on the back of power generated here in Scotland are going to a private company, headquartered in Bilbao, and lining the pockets of its shareholders?”

“Scotland’s renewable energy wealth shouldn’t just flow to private investors, it should be generating public revenue, supporting local services and communities.”