17 July 2014
Origin will deliver carbon benefit to households
Origin Energy Limited (Origin) today welcomed the removal of uncertainty over implementation of the federal government's policy to repeal the carbon price.
Origin CEO Energy Markets, Mr Frank Calabria said, “The carbon price repeal has now been confirmed and Origin is already working to deliver the benefits to our 4.3 million customers.
“Origin has started a program to update its billing systems with revised usage charges that exclude the carbon price. Customers will start seeing the new prices on their household energy bills from September, and these will be backdated to 1 July,” Mr Calabria said.
The same methods used to include carbon in household bills before repeal will be used to remove it, and we've followed the advice of energy industry regulators in areas where they set the carbon price.
Customer savings on household energy bills will vary. Our initial modelling estimates savings for an average Origin household energy bill, weighted across our entire customer base, of around 7 per cent for electricity and 5 per cent for gas, but individual households will save more or less depending on their location, tariff type and how much energy they use. The actual averages, nationally and by state, will be published on our website when available.
Energy prices for business and commercial users will be subject to the repeal legislation and contractual arrangements with Origin.
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Price review outcome and update on FY2021 guidance
Origin Energy Limited (Origin) has provided the following update on earnings guidance for the year ended 30 June 2021 (FY2021), following an adverse outcome on a domestic gas contract price review, combined with a further deterioration in Energy Markets’ operating conditions.