Origin downgrades guidance citing price review and poor market conditions

ORIGIN Energy has been forced to cut its underlying EBITDA guidance for its energy division from A$1-1.14 billion to $940 million to $1.02 billion this financial year based on higher prices from the Beach Energy-operated Otway Basin fields where it sources gas for its power plants.

Origin downgrades guidance citing price review and poor market conditions Origin downgrades guidance citing price review and poor market conditions Origin downgrades guidance citing price review and poor market conditions Origin downgrades guidance citing price review and poor market conditions Origin downgrades guidance citing price review and poor market conditions

Hopes APLNG performance can bandage wound

The result, which Origin CEO Frank Calabria described as "disappointing" is the first time in a while a gas producer, via its Queensland LNG export facility, and buyer for the east coast power market