30 November 2018
Origin continues price relief for Victorian customers
Victorian concession card customers on Origin’s residential standing and non-discounted contracts will continue to receive a 26 per cent discount on electricity usage and supply charges from 1 January, meaning they will continue to save an average of $548 per year off Origin’s standing tariff prices.
Origin’s other residential Victorian standing and non-discounted customers will continue to receive a 17 per cent discount on their electricity rates, saving an average of $358[i].
“No residential Origin customer in Victoria is paying the full standing rate for electricity today, and this announcement means we will continue to provide more affordable energy for Victoria’s most vulnerable customers,” said Executive General Manager Retail, Jon Briskin.
“This continues a commitment we made over 12 months ago to protect Victorian customers who have not engaged in the market by applying automatic discounts to their energy plans.
"Our decision to freeze tariffs for hardship customers since 2017 has helped save those in our Power On program an average of $695 through guaranteed discounts and lower prices.
“Additionally, we continue to support customers with tailored payment plans, matched payments, energy audits, appliance upgrades and support from financial counsellors, ensuring those that most need help with higher energy prices are getting it.”
Origin will hold residential electricity prices flat for all other customers in Victoria from 1 January 2019, absorbing higher network and green scheme costs. Origin will also freeze natural gas prices for Victorian residential customers despite an increase in network costs.
“While the wholesale price of electricity has come down from its peak, this was more than offset by increases in network charges and government green schemes. We decided to absorb these costs to make sure our residential customers in Victoria don’t pay more in 2019,” Mr Briskin said.
“Origin is taking clear action to assist customers, particularly those most in need of support, but it is time to look for more substantial reductions across the energy supply chain consistent with the ACCC’s recommendations. The need for coordinated climate and energy policy that can guide the transition to a low carbon future at least cost to the community must also remain an urgent priority,”
In a separate announcement today, Origin will provide an automatic 10 per cent discount on electricity usage charges for all concession card customers on standing offers and non-discounted plans in New South Wales, ACT, Queensland and South Australia from 1 January. These customers will save up an average of $169 per year off Origin’s already low standing offer rates[ii].
[i] Estimated savings based on weighted average impact for Origin’s residential customers across all network areas and tariffs.
[ii] As above
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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.