Origin Energy

Origin Energy Ltd
Type Public
Traded as ASXORG
Industry Energy
Founded February 2000, but parts of the business date from the 19th century
Headquarters Sydney, New South Wales, Australia
Key people Grant King (MD)
Products Oil, gas and electricity
Revenue A$8,534 million (2010,[1])
Net income A$680 million after tax (2010)
Employees 4,392
Website www.originenergy.com.au

Origin is an Australian energy company headquartered in Sydney.

Contents

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History

Origin Energy was formed in February 2000, as a result of a demerger from the Australian conglomerate Boral Limited, in which the energy business was removed from the building and construction materials business to form the new company.[1]

Between 2001 and 2002, Origin acquired the Victorian electricity retailers Powercor and CitiPower. In 2004, the SEA Gas Pipeline was completed and commissioned, which served to link the Victorian and South Australian gas markets. During this time, Origin obtained 50% interest in the Kupe Gas Field, and managed to obtain Edison Mission Energy's 51.4% interest in New Zealand's Contact Energy.[1]

On 15 December 2010, Origin Energy announced that it would purchase the retail divisions of Country Energy and Integral Energy from the Government of New South Wales, at a total cost of A$3,250 million,[2] as well as entering a GenTrader agreement with Eraring Energy (in which Origin supplies fuel, pays certain charges, and can dispatch and sell electricity output, while Eraring Energy owns, operates and maintains the power stations). The transaction was completed on 1 March 2011.[3]

Core business

Origin Energy is active in a number of sectors in the energy business:

Origin is currently one of the largest residential solar retailers in Australia installing over 55MW of PV in the 12 months to August 2011.[4] Of the large energy retailers Origin moved first and aggressively into the residential solar market. In July 2011 AGL, Origin's major competitor purchased small solar retailer Rezeko[5] as a platform to complete in solar against Origin. AGL is yet to show success in residential solar. Origins biggest competitors in the space are True Value Solar and Nue Energy (by REC production).

Renewable energy

Origin is active in the renewable energy arena. It has spent a number of years developing:

Key executives

References

Australia portal
Energy portal

External links