Amid fears of diving carbon prices, Origin Energy Limited
(ASX:ORG) has ended Australian forestry project option plans worth $133 million.
The energy company is reported to have denied that the decision is related to the federal government’s move to cancel the establishment of a carbon price floor.
Origin has walked away from a 2013 contract with carbon sink developer Carbon Conscious.
Carbon Conscious director of business development Dan Stevens says the decision is based on an expectation that carbon prices will fall after 2015.
Origin Energy Limited’s
(ASX:ORG) full year net profit last week jumped to $1 billion.
