Origin Energy sells electricity and gas to millions of Australian households, and owns a share of a major LNG export project. Here’s how it makes its money.
Origin Energy is one of Australia’s largest energy companies, and one of the biggest companies on the ASX.
It was formed in 2000, when it was spun out of Boral, the building materials company. It is based in Sydney, reports in Australian dollars, and its financial year ends on 30 June.
Energy Markets
Origin’s Energy Markets business sells electricity, gas and internet to households and businesses, mainly in eastern Australia. Along with AGL and EnergyAustralia, it is one of the country’s three biggest energy retailers.
It also generates electricity. It owns Eraring, near Newcastle in New South Wales, Australia’s largest coal-fired power station, which is due to close later this decade. It also runs gas power stations, buys power from wind and solar farms, and is building big batteries.
Its profits depend on the gap between what it charges customers and what it costs to generate or buy electricity and gas.
Integrated Gas
Origin owns 27.5 per cent of Australia Pacific LNG, or APLNG, which extracts coal seam gas in Queensland and exports it as liquefied natural gas, or LNG, mainly to Asia. It also supplies gas to the east coast.
APLNG pays Origin large dividends, and its earnings depend heavily on oil prices, because many LNG contracts are linked to the oil price.
Octopus Energy
Origin owns about 23 per cent of Octopus Energy, the U.K.’s biggest energy retailer, and of Kraken, its technology platform, which is used by energy companies around the world, including Origin.
The risks
The risks include lower oil and gas prices, government intervention in energy prices, the cost of replacing coal power, competition for customers, and problems at its power stations.
Latest results, as at 9 November 2026
Full year to June 2026, reported 13 August 2026: underlying profit fell 22 per cent to $1.16 billion, as earnings from APLNG fell with lower oil prices and LNG trading gains. Statutory profit rose to $1.57 billion. Its Energy Markets business increased earnings by 21 per cent to $1.7 billion. Origin received $911 million in dividends from APLNG, and paid total dividends of 60 cents a share.
Next update: Origin reports its half-year results, to December 2026, in February 2027.
