17 August 2017
Response to The Daily Telegraph
The article "'Rip-offs' the Origin of profits" in today's The Daily Telegraph (p9) references analysis by the Australia Institute which purports Origin's profit per electricity customer is $521.
Gross Profit is not an accurate reflection of the profit Origin makes per residential electricity customer. Gross profit is a number that includes both very large business customers as well as households. From this number, a large number of costs to our business must be taken out before we make a net profit.
Origin provided the following statement to The Daily Telegraph:
“It’s wrong to say that the $521 gross profit listed in Origin’s accounts is how much we make per household electricity customer, as this also includes our largest business customers. The net profit we make on a household customer after all costs are taken into account is less than a quarter of that," an Origin spokesperson said.
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