Origin Energy has reported stable gas production volumes from its Australia Pacific LNG (APLNG) venture in Queensland for the September quarter. The company also noted consistent electricity sales within its energy markets division. However, gas sales volumes in the retail sector experienced a 12 per cent decrease compared to the previous year, primarily due to the conclusion of trading sales contracts. Origin Energy is an integrated energy company focused on gas and oil exploration, and electricity generation and retailing. It operates across Australia, Asia, and the Pacific.
APLNG’s revenue for the quarter saw a 5 per cent decline from the June quarter, settling at $2.124 billion. This downturn is mainly attributed to reduced export volumes and prices, although domestic market volumes increased. The average gas sales price in the domestic east coast market was $8.99 per gigajoule, significantly lower than the average LNG sales price of $US10.08 per million British thermal units.
Chief executive Frank Calabria highlighted the commencement of scheduled maintenance at both the Eraring coal power station and the Mortlake gas power station during the quarter. He noted that this maintenance is expected to conclude within the current quarter, ensuring readiness for the peak summer demand period. Origin’s partly owned Octopus Energy business in the UK saw substantial growth, adding over half a million customer accounts during the quarter. Customer numbers have doubled in Germany, with numbers doubling in the past 12 months.
