- Origin Energy shared its September quarterly report today.
- Origin’s domestic sales volumes have risen 62% in the September quarter.
Origin Energy Limited (ASX:ORG) on 31 October 2022 released its quarterly report for the period ended 30 September 2022. The report has covered the performance of the Australian electricity generator’s Integrated Gas and Energy Markets divisions.
Frank Calabria, CEO, Origin Energy shared via the ASX release that June quarter was tough because the company witnessed some major power supply challenges along with increased wholesale prices all over the NEM (National Energy Markets).
Origin shared its September numbers for Integrated Gas:
- Australia Pacific LNG revenue for the given period has risen 1% compared to the previous quarter.
- The production during the quarter, however, declined 2% to 167.5 PJ, from 170.5 PJ in the June quarter.
- As per Origin, planned downstream maintenance resulted in a 19% fall in LNG sales volumes compared to the June quarter.
- The company’s domestic sales volumes rose 62% in the September quarter, and no spot LNG cargoes were delivered due to the downstream maintenance shutdown.
- The outlook for the LNG trading business has improved, particularly for FY2025.
For the Energy Markets, Origin shared:
- Electricity and gas spot prices have come down compared to the June quarter.
- Total electricity sales volumes gained 8%. Retail sales volumes declined 2% and business volumes went up 18%.
- Gas sales volumes to business customers increased 23%. Retail gas sales volumes stayed flat.
- Capital investment gained to AU$170 million during the quarter. This features AU$163 million (£94 million) investment in Octopus Energy and AU$6 million towards the acquisition of Yanco Solar Far.