Highlights:

Origin Energy’s Integrated Gas revenue declined 3% in Q4 FY25 due to lower LNG prices

Origin’s Energy Markets added 104,000 customer accounts during the financial year

ORG Octopus Energy added 600,000 net retail accounts in Q4, Kraken reached 74 million users

Origin Energy Limited (ASX:ORG) has released its quarterly report for the three months ended 30 June 2025, outlining operational and financial performance across its Integrated Gas, Energy Markets, and Octopus Energy segments. The report reflects stable outcomes in domestic energy and continued customer growth in international retail, tempered by a fall in LNG revenues due to lower prices.

Revenue from Australia Pacific LNG (APLNG) for the June quarter was reported at AUD 2.24 billion, down 3% from the March quarter, primarily impacted by a decrease in realised LNG prices. Production increased slightly by 1% to 2.1 petajoules due to one additional day in the reporting period.

For the full year FY25, production was down 2%, while revenue remained steady. Origin received AUD 797 million in fully franked dividends from APLNG during the year, with a further AUD 335 million dividend received in early July 2025.

Looking ahead, Origin has provided FY26 production guidance of 635–680 petajoules, a reduction reflecting natural decline in output from both operated and non-operated fields. Origin also announced capital expenditure guidance of AUD 2.9–AUD 3.2 billion and operating cost guidance of AUD 4.3–AUD 5.0 per gigajoule. The increase accounts for investment in optimisation and infrastructure projects, subject in part to joint venture approvals.

The company has concluded a pricing review with Sinopec, a key APLNG offtake partner, by mutual agreement. Origin’s domestic energy business recorded steady electricity sales in FY25 compared to the previous year. However, gas volumes fell 3%, attributed to lower business sales and reduced volumes directed to generation.

Customer growth remained a key development in FY25, with Origin gaining 104,000 new customer accounts across electricity, gas, and internet services. The wholesale portfolio performed effectively through periods of market volatility, supported by high plant availability and contracting activity.

Approximately 80% of Origin’s anticipated coal supply for its Eraring power station in FY26 has now been hedged or contracted at pricing levels like FY25.

The Octopus Energy retail business majority owned by Origin added around 600,000 net new customer accounts in the June quarter, spanning both UK and international markets. As of June 2025, Octopus services 7.6 million UK customers (14 million accounts total) and more than 2.7 million accounts internationally.

Kraken Technologies, the platform supporting Octopus Energy’s operations, continues to expand its contracted customer base. The business has grown by 45% in FY25 to 74 million contracted accounts and has recently secured its first major client in the United States National Grid. Kraken remains on track to meet its 100 million customer milestone by 2027.

ORG is trading 0.47% lower at AUD 11.62 per share as of 31 July 2025.