Origin Energy

Strategic intent

Origin Energy is a leading Australian integrated energy company focused on electricity generation, energy retailing, gas exploration and production, and international energy technology investments.

Key market signals

• 2026-10: APA Group finalized its investment decision for the Bulloo Interlink Pipeline, backed by a new five-year, take-or-pay, inflation-linked gas transportation and storage contract with Origin Energy starting January 1, 2028.
• 2026-10: Origin Energy held its 2026 Annual General Meeting on October 14, where shareholders carried all resolutions, including the re-election of Director Scott Perkins and equity grants to CEO Frank Calabria.
• 2026-07: Kraken Technologies formally separated from Octopus Energy and completed a US$1 billion standalone equity raise at a US$8.65 billion valuation, with Origin investing $210 million to maintain its 22.7% economic interest across both entities.
• 2026-06: Origin Energy partnered with Landis+Gyr to modernise and fully digitise its gas network operations across its entire customer base over 18 months using smart digital IoT technology.
• 2025-12: The Australian Energy Regulator (AER) launched Federal Court proceedings against Origin Energy for overcharging vulnerable Centrelink customers by $2.5 million.

Financial health

• Reported FY26 statutory profit of AUD 1.574 billion, representing a 6% increase from AUD 1.481 billion in FY25 (source: https://www.originenergy.com.au/wp-content/uploads/95/Origin-Energy-FY26-Annual-Report.pdf).
• FY26 underlying EBITDA was AUD 3.220 billion, down from AUD 3.411 billion in FY25 due to lower oil-linked earnings at Australia Pacific LNG (source: https://www.originenergy.com.au/wp-content/uploads/95/Origin-Energy-FY26-Annual-Report.pdf).
• Adjusted free cash flow surged to AUD 2.074 billion in FY26, up from AUD 1.207 billion in FY25 (source: https://www.originenergy.com.au/wp-content/uploads/95/Origin-Energy-FY26-Annual-Report.pdf).

Impact & compliance

Legal & risks

In March 2025, the Supreme Court of Victoria ordered Origin Energy to pay $17.605 million in penalties for widespread breaches of Victoria's energy rules affecting nearly 670,000 customers. In July 2026, Origin Energy committed to refund over $270,000 to more than 4,500 customers following an ACCC […]

Forensic audit — 3 findings

• ⚠ A shareholder class action (Scott Byrnes v Origin Energy Limited) is ongoing in the Supreme Court of Victoria, alleging
• ⚠ In July 2026, Origin Energy suffered a major customer data breach exposing sensitive personal information, which was pri...
• ⚠ In June 2026, the Federal Court of Australia issued a procedural decision in Origin Net Pty Ltd v Origin Energy Limited

🔒 Proprietary analysis

Proprietary Analysis — available with full access

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