Origin Energy Limited (ASX:ORG) has revised its underlying profit guidance for fiscal 2013 by up to 10 per cent due to regulatory and pricing impact.
The energy company has to restrain itself from significantly increasing Queensland electricity prices earlier in the year due to restrictions imposed by the states competition authority.
It was also hit by $40 million stemming from costs incurred from the Clean Energy Regulator.
The changes in guidance come after an August announcement expecting underlying profit to be in line with the 2012 financial year.
Origin says however the earlier guidance referred to the possible impact of regulatory uncertainty on its guidance, and now concedes it will be unable to absorb additional costs within its previous guidance.
Origin Energy reported a net profit of $1.05 billion for the 2012 financial year.
