Origin Energy (ORG) $5.91

ORG -13.72%: higher energy prices have helped support Origin in recent months but today a coal shortage has forced the company to walk from FY23 guidance. The company said it was receiving less than contracted volumes of coal from Centennial to its Eraring power plant which had forced them into buying energy on the spot market at significantly higher rates than anticipated. While they maintained FY22 guidance, a larger portion of EBITDA will come from their Integrated Gas segment while Energy Markets is expected to contribute just $310-460m to EBITDA, down around 25% at the midpoint. They have also walked from premature FY23 guidance which had the Energy Markets business contributing $600-850m to EBITDA with coal supply concerns expected to continue.

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Origin Energy (ORG)

LAST UPDATED 01/06/2022 16:49

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Origin Energy (ORG)

LAST UPDATED 01/06/2022 16:49