Fifth of UK energy companies run solely by men

More than a fifth (21%) of the UK’s biggest energy companies are solely run by men.

Of the 80 biggest energy companies in the country, 17 still have no women on their boards, annual data released by POWERful Women (PfW) and PwC UK reveals.

PfW’s 2023 State of the Nation report shows that there has been very little progress during the last 12 months, in regards to representation of women in key decision-making roles on the boards of the UK’s top energy companies.

The report reveals that women occupy just 29% of energy sector board seats (executive and non-executive) – a rise of two percentage points on last year but 11% off the cross-sector target for the FTSE 350, which last year met its 2025 target of 40% women on the board.

Meanwhile, women occupy 16% of executive board positions (just 1% higher than in 2022) and there are just six female CEOs in the top 80 UK energy companies.

However, 21 companies have already met the FTSE Women Leaders Review target of having 40% women on the board by 2025.

Chair of POWERful Women Katie Jackson said the sector was “stuck trailing the wider business community” adding that the latest figures were “disappointing”.

She added: “The fact that we still have almost a quarter of energy companies with all-male boards is simply unacceptable in 2023.

“At this critical time when the energy system is changing, companies need to change too. The industry needs much better diversity so that it has the innovation and leadership for a successful energy transition and is much more representative of the consumers it serves.”

Despite a low representation at board level, the annual survey does show progress is being made within leadership and middle management roles.

The results show women occupy 32% of middle management roles. Four companies have already met POWERful Women’s new and ambitious target of 40% women in leadership by 2030. And a further 15 have reached between 30% and 39%.

Jackson added: “It is clear that the largest energy employers in the sector are making positive headway when it comes to gender diversity in levels below the board. Those that have already met POWERful Women’s 40% target deserve to be congratulated and I hope they will continue to share with other organisations the good policies that have got them there.”

Amanda Solloway, minister for energy consumers and affordability, added: “I passionately believe that we need women in leadership roles to drive towards our goal of securing cheap, clean energy that Britain needs to prosper. As both a woman and Minister for Energy Consumers and Affordability, I am committed to ensuring that all people, including women, are at the heart of all that we do.”

The survey comes on the back of the latest gender pay gap statistics published in April, which revealed that pay disparity between men and women within the utilities sector got worse in the last 12 months. According to the latest statistics, which show a snapshot of the sector as of 5 April 2022, the average gender pay gap within water companies, distribution network operators (DNOs) and gas networks are all above the median gender pay gap national average of 9.4%.

Speaking to Utility Week recently, one industry expert expressed her concerns about the retention rates of women in the energy sector, which meant women were not moving up into senior positions.

Elisabeth Hunt, energy & infrastructure tax deals leader at PwC, believes that more progress around the image of the energy sector needs to be done to attract people from diverse backgrounds.

“The energy transition brings with it a need to grow the energy sector’s workforce and with it, attract diverse and varied skill sets,” she added. “Female leaders have a key role to play here, particularly in making sure that the sector appeals to future generations of women and girls.

“A fundamental shift in tone is needed to attract these future generations to roles in the sector and everyone in the industry has a responsibility alongside educational institutions in setting that tone.”