FUEL poverty campaigners demanded proper taxation on greedy energy companies today as firms already banking £240 billion in the past three years are expected to announce more “obscene” profits this week.

Iberdrola, the owner of Scottish Power, announced today that its net profit has risen to £3.47bn within the first six months of the year, jumping by 64 per cent.

Norwegian oil and gas producer Equinor announced pre-tax earnings of £5.8bn.