What happened
Origin Energy reported full-year underlying profit of $1.16 billion, beating analyst estimates. Energy Markets earnings rose 21 per cent to $1.70 billion, supported by retail sales and battery developments. The company forecast 2027 Energy Markets operating earnings of $1.55 billion to $1.85 billion, reassuring markets that battery storage can offset lower electricity prices.
Why it matters here
Origin's performance demonstrates how Australian energy utilities are utilizing grid-scale battery developments, such as the Mortlake facility in Victoria, to stabilize revenues during the clean energy transition. The positive guidance provides Australian income and growth investors with confidence in the power sector's structural transformation.
What to watch
Commissioning updates on the remaining 0.5 gigawatts of Origin's 1.8 gigawatt battery development pipeline during the 2027 financial year reporting periods.
Source
reuters.com