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. 


Contacts

Media
Anneliis Allen
Ph: +61 2 8345 5119
Mobile: +61 428 967 166