Energy UK, which represents the energy industry, said Ofgem's figures did not take into account the costs of "huge investment" being made by the "Big Six" firms.
It claimed the energy regulator had also used profits calculated before interest payments and tax were deducted.
The main reasons customers have seen their household bills go up is because the cost of gas and electricity have gone up as well as other add-ons, such as the social and environmental policies, rising fast.
More top news
Poorer areas have received the biggest cuts over the last five years, according to influential think-tank the Institute for Fiscal Studies.
A suspected burglar and domestic abuser who goaded police on their own Facebook page has been taunted back after handing himself in.
Motorists are to be allowed 10 minutes' grace after a parking ticket runs out before they can receive a fine, under new rules.