Origin Energy reports 12% decline in quarterly gas sales volumes
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The news: Origin Energy has reported a 12% drop in gas sales volumes for the first quarter, as a number of trading sales contracts ended.
The numbers: Gas sales volumes lowered 12% year on year to 51.9 petajoules (PJ). Electricity sales fell 1% year on year to 9.2 terawatt-hours.
Quarterly production at its Australia Pacific LNG operation was steady quarter over quarter at 169.9 PJ. Revenue was 5% lower at $2.1 billion, driven by lower LNG volumes and provides, partially offset by higher domestic volumes.
The context: Origin CEO Frank Calabria said the company is continuing to progress construction and integration works on its grid-scale Eraring and Mortlake batteries.
He also noted that Origin’s partly owned Octopus energy business in the UK added more than half a million customer accounts in the quarter, including 230,000 in the UK, and 330,000 outside the UK. Customer numbers have doubled in Germany, with numbers doubling in the past 12 months.
The source: ASX
