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Origin Energy is an Australian integrated energy company that is headquartered in Australia and operates in New South Wales, Victoria, Queensland, South Australia, Western Australia, and the Australian Capital Territory. It is the largest provider of electricity and natural gas in Australia, with approximately 4.2 million customers. While Origin Energy is a publicly listed company with shareholders worldwide, it is still considered Australian-owned and has a rich history of business in the country.
| Characteristics | Values |
|---|---|
| Australian-owned | Partly |
| Number of customers | 4.2 million |
| Headquarters | Australia |
| Revenue in 2019 | US$10.33 billion |
| Installed capacity in 2018 | 6.03 GW |
| Largest renewable energy retailer in Australia | Yes |
| Year of becoming a publicly listed company | 2000 |
| Largest shareholder | AustralianSuper |
| Stake in Octopus Energy | 20% |
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What You'll Learn
Origin Energy is Australia's largest renewable energy retailer
Origin Energy is an Australian energy company that operates across power generation, energy retailing, and natural gas exploration and production. It is Australia's largest energy retailer, with approximately 4.2 million customers across its electricity, natural gas, and LPG businesses.
Origin Energy is a Tier 1 energy company, which means it has government protections in place for its customers. The company has a long and rich history in Australia and is ASX-listed, with shareholders worldwide. It operates in New South Wales, Victoria, Queensland, South Australia, Western Australia, and the Australian Capital Territory.
As Australia's largest energy retailer, Origin Energy has a commitment to supplying almost 30% of the Australian east coast domestic gas market demand. The company has approximately 4.2 million customers, servicing both large energy customers and the residential and small business markets. Origin operates with a capacity to generate 6,010 MW of electricity, representing approximately 13% of the power generation capacity in the National Electricity Market.
Origin Energy is also a leader in renewable energy. In August 2022, the company announced a goal of net-zero direct and indirect emissions by 2050. Origin is increasingly seen as strategically well-placed in a changing energy market, with a focus on renewables and a large, flexible existing portfolio. The company is Australia's leading provider of low-carbon products such as GreenPower, GreenGas, and solar PV. It operates one of the largest electricity generation fleets in Australia, with close to 7,000 MW of owned and contracted generation, including renewable power stations.
Origin Energy has also faced challenges and controversies. In 2020, the company was fined for providing misleading information regarding price increases. In 2022, it was fined again for breaching its obligations to customers experiencing hardship and payment difficulties. Despite these setbacks, Origin Energy remains a significant player in Australia's energy sector, with a growing focus on renewable energy sources and a commitment to reducing emissions.
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Origin Energy is publicly listed and headquartered in Australia
Origin Energy is one of the largest providers of electricity and natural gas in Australia, servicing approximately 4.2 million customers across the country. It operates in New South Wales, Victoria, Queensland, South Australia, Western Australia, and the Australian Capital Territory.
Origin Energy is publicly listed on the ASX, meaning that it is partly Australian-owned and has shareholders worldwide. The company is headquartered in Australia and has a long and rich history of business in the country.
In 2019, Origin Energy generated a revenue of US$10.33 billion and had an installed capacity of 6.03 GW. The company is Australia's largest renewable energy retailer, providing wind energy to 330,000 homes and maintaining 360,000 solar PV accounts. However, Origin Energy still relies heavily on fossil fuel assets and plans to continue doing so beyond 2030.
Origin Energy has been recognised for its commitment to building mainly renewable generation in the future. In 2020, the company's renewable generation was expected to increase from 19% to 25% with the opening of the 530 MW Stockyard Hill wind farm. However, as a major gas producer and user that owns Australia's largest coal power station, Origin Energy has been criticised for inconsistencies in its approach to decarbonisation.
In summary, Origin Energy is publicly listed and headquartered in Australia, with a significant presence and impact in the country's energy sector.
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Origin Energy is partly Australian-owned
Origin Energy is a publicly listed Australian company with its headquarters in Australia. It is the largest provider of electricity and natural gas in Australia, with approximately 4.2 million customers. The company operates in New South Wales, Victoria, Queensland, South Australia, Western Australia, and the Australian Capital Territory.
However, Origin Energy is only partly Australian-owned. It is an ASX-listed company with shareholders worldwide. In 2022, a takeover offer of A$18 billion from Brookfield Asset Management and EIG Global Energy Partners consortium was announced. The acquisition was terminated after opposition from Origin shareholders, led by AustralianSuper, which failed to meet the required 75% threshold.
Origin Energy has a rich history in Australia and is committed to advancing Australia's reconciliation efforts. It has launched a Stretch Reconciliation Action Plan and joined the We Mean Business global climate action coalition, committing to seven targets to reduce emissions across its business.
Origin Energy has also made significant investments in renewable energy sources, aiming to increase its renewable generation from 19% to 25% in 2020 with the opening of the 530 MW Stockyard Hill wind farm. However, the company still relies heavily on fossil fuel assets and plans to continue doing so well past 2030, undermining its climate leadership aspirations.
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Origin Energy is committed to reducing emissions
Origin Energy is one of the largest providers of electricity and natural gas in Australia, servicing over 4 million customers. While it is a Tier 1 energy company based in Australia, it is only partly Australian-owned, with shareholders from around the world.
In 2015, Origin Energy became the first energy company in the world to commit to the first seven commitments of the We Mean Business Coalition, a global nonprofit coalition that outlines a framework for business climate action for a net-zero, 1.5°C-aligned world. The company supports the Paris Agreement and its goal of limiting global temperature increase to 1.5°C above pre-industrial levels.
Origin Energy has diverse generation assets, including renewable energy sources such as solar, hydropower, and the potential for hydrogen as a lower-carbon energy source. The company has also invested in solar farm development projects, such as the Yarrabee Solar Farm in New South Wales and the Carisbrook Solar Farm in Victoria, to accelerate the growth of renewable energy in its portfolio.
The company's CEO and senior executives' remuneration arrangements are linked to the progress made towards achieving its GHG reduction targets, demonstrating their commitment to reducing emissions.
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Origin Energy has a stake in Britain's Octopus Energy
Origin Energy is Australia's top power and gas retailer and the largest provider of electricity and natural gas in Australia. It has a long and rich history of business in Australia and operates in New South Wales, Victoria, Queensland, South Australia, Western Australia, and the Australian Capital Territory. However, Origin Energy is only partly Australian-owned, as it is an ASX-listed company with shareholders worldwide.
In May 2020, Origin Energy agreed to buy a 20% stake in UK retailer Octopus Energy for A$507 million ($327 million). This deal gave Origin Energy an exclusive license to use Octopus Energy's technology in Australia. The UK company's technology includes a user-friendly system and low-cost AI-enabled Kraken energy tech platform. Origin Energy's Chief Executive Frank Calabria stated that the deal was focused on securing this technology to differentiate itself in the transition to cleaner energy.
Since then, Origin Energy has increased its stake in Octopus Energy. As of April 2024, Origin Energy owns 22.7% to 23% of Octopus Energy, with this stake being worth more than A$2.7 billion. Octopus Energy has risen to become the UK's biggest electricity provider and the second-largest energy retailer in the UK. It has achieved this growth by acquiring customers from rival companies, such as Bulb and Shell Energy, and through its own marketing efforts.
Overall, Origin Energy's investment in Octopus Energy has gained hundreds of millions of dollars in value. This increase in value has been driven by the rapidly growing business and new backing from superannuation funds, including Australia's Aware Super.
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Frequently asked questions
Origin Energy is headquartered in Australia and is a publicly listed company with shareholders around the world, so it is only partly Australian-owned.
Origin Energy has approximately 4.2 million customers, servicing large energy customers, as well as the residential and small business markets.
In 2019, Origin Energy's revenue was US$10.33 billion.
In 2018, Origin Energy's installed capacity was 6.03 GW.
