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Origin ordered to pay more in Beach Energy gas price stoush Weâre sorry, this service is currently unavailable. Please try again later. Dismiss Save Normal text size Advertisement Australian power and gas giant Origin Energyâs profit will take a significant hit after the company was ordered to pay more than expected for the natural gas it buys from Kerry Stokes-backed Beach Energy. Shares in Origin, one of the countryâs largest energy suppliers, fell 8 per cent on Friday when a months-long arbitration between the two companies landed on a gas price that one analyst described as âunfathomableâ in the current market. ....
Origin Energy cuts earnings guidance Apr 16, 2021 11:45:am Summary The reduction comes following an arbitration order to pay Beach Energy more for gas following a contract price review. by: Shardul Sharma Posted in: Origin Energy cuts earnings guidance Australia’s Origin Energy on April 16 cut its annual earnings guidance for energy markets following an arbitration order to pay Beach Energy more for gas following a contract price review. Origin lowered its energy markets underlying Ebitda guidance for 2021 to A$940mn-1.02bn ($728mn-$791mn) from A$1bn-A$1.14bn. The arbitration order is expected to result in an increase in Origin’s cost of supply of A$30mn-A$40mn for 2021, increasing further to A$60mn-A$80mn in 2022 consistent with an expected increase in volume. ....
EnergyOrigin Energy asked to pay Beach more for gas supply, shares slump ReutersArundhati DuttaShruti Sonal 3 minutes read The logo of Australian energy company Origin is pictured in Melbourne, Australia, July 3, 2016. REUTERS/Jason Reed Australia s Origin Energy Ltd (ORG.AX) cut its annual profit guidance for energy markets on Friday, after an arbitrator ordered it to pay Beach Energy (BPT.AX) more for gas supply following a contract price review. Origin shares fell nearly 9% to hit their lowest in more than five months while Beach Energy climbed more than 6% to touch a two-month high, following the news on gas supply pricing from Beach Energy s Otway Basin fields. ....
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