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Origin lifts in second half
Posted by Des Dugan	On: 28-08-2008	Topic: General

ORIGIN Energy has registered a 13% increase in 2008 profit to $517m buoyed by a number of one-off items amounting to $74m.

Total revenue was up 29% to $8,275m and a dividend was posted amounting 13¢ per cent bringing full year’s dividend to 25¢ per share.

″Origin’s financial performance and business development activities this year have continued to strengthen and develop the Company’s fuel integrated generation and retail business,″ managing director, Grant King (pictured) said.

Record production, sales and revenues resulted in higher earnings from the exploration and production segment.

He said this reflected ″our growing coal seam gas operations, a full year contribution from the BassGas Project and an initial contribution from the Otway Gas Project.″

″The retail segment significantly increased earnings, predominantly due to a full year contribution from Sun Retail, despite continuing high churn in gas and electricity markets and tighter margins in the LPG business,″ he said.

″Customer numbers were maintained across the year and dual fuel accounts increased.

″Earnings in the generation business were in line with the prior year after adjusting for the Mt Stuart Power Station transition to an internal contract.

␛Contact Energy increased its contribution to our profits.

″We have significantly increased our capital expenditure, with major projects such as the Kupe Gas Project, CSG assets in Queensland and the Darling Downs Power Station representing a substantial investment in Origin’s continuing growth.″

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Latest Articles

Iemma facing privatisation defeat
Posted by Des Dugan	On: 28-08-2008	Topic: National
ALL indications are the NSW Labor Government’s electricity privatisation legislation will be defeated in the state’s Upper House legislature later today. The National Country Party’s leader, Andrew Stoner (pictured) has already said has already said his party will not support Read More..

Wind measurement gets up to speed
Posted by Des Dugan	On: 28-08-2008	Topic: International
WIND companies and designers can now measure the effectiveness of wind turbines following new tests approved by the International Electrotechnical Commission (IEC). Developed by a technical committee, IEC 61400-21 sets out the tests that can be used to compare both wind turbines of Read More..

Origin lifts in second half
Posted by Des Dugan	On: 28-08-2008	Topic: General
ORIGIN Energy has registered a 13% increase in 2008 profit to $517m buoyed by a number of one-off items amounting to $74m. Total revenue was up 29% to $8,275m and a dividend was posted amounting 13¢ per cent bringing full year’s dividend to 25¢ per share. ″Origin’s f Read More..

NSW switches tactics to upper house
Posted by Des Dugan	On: 27-08-2008	Topic: National
LEGISLATION for the privatisation of NSW electricity assets will go before the Upper House of the state’s parliament on Thursday. Premier Morris Iemma notified several changes to the bill which will not be presented to the House of Representative where it faces certain defeat. Read More..

Turbines wipe out batteries
Posted by Des Dugan	On: 27-08-2008	Topic: General
CAPSTONE Turbines has broken into the data centre market with a $1.3m sale in Arlington and Houston. The company has announced orders for its UPSource product, an Uninterruptible Power Source (UPS) for data center applications. ″Capstone’s UPSource Secure Power produc Read More..

Dawn's false dawn!
Posted by Des Dugan	On: 26-08-2008	Topic: National
″I’ve written media releases longer than this,″ reports NSW independent state MP, Dawn Fardell commenting on the Auditor-General's report on the sale of the NSW electricity industry by the Premier, Morris Iemma. This followed the Premier labeling the report as ″e Read More..

ETS starts getting hot
Posted by Des Dugan	On: 25-08-2008	Topic: National
THE greens are asking New Zealanders if they want changes to the country’s carbon trading scheme; business groups in Australia are being accused of ″whimping out″ of carbon trading and Victorian are told they will have to pay an extra $400 a year to be green – the carbon w Read More..

Thailand wants to go nuclear
Posted by Des Dugan	On: 23-08-2008	Topic: General
THAILAND wants Japan to help it build a couple of 2000MW nuclear power stations by 2020. Bloomberg news agency reports the country wants to cut dependence on natural gas, which accounts for more than 70% of its power generation. ″The next three-year period will b Read More..

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