Key Highlights

  • Origin Energy Ltd (ASX: ORG) reported FY26 Australia Pacific LNG production of 668 petajoules, above the midpoint of its annual guidance range.
  • The company received $911 million in fully franked dividends from Australia Pacific LNG during FY26, supported by its integrated gas operations.
  • Energy Markets customer accounts increased by 243,000 during FY26, while battery storage capacity expanded to 980 MW / 3,408 MWh.
  • Octopus Energy continued international expansion, adding 2.2 million accounts during FY26 and increasing its technology platform reach through Kraken.

Origin Energy Ltd (ASX:ORG) shares were trading at A$10.74 on 31 July 2026, rising A$0.08 or 0.75% during the session. The company’s share performance has continued to attract attention from investors tracking Australia’s energy sector, where market sentiment is shaped by electricity demand trends, commodity markets, regulatory developments and the transition toward renewable energy.

Origin operates across three major business segments: Integrated Gas, Energy Markets and Octopus Energy Group. The company’s diversified structure provides exposure to traditional energy production, electricity retailing, renewable energy infrastructure and digital energy technology.

The latest June 2026 Quarterly Report provided investors with an update on operational performance across these divisions, highlighting continued LNG production from Australia Pacific LNG, customer growth in retail energy markets and expansion of Octopus Energy’s global platform.

Australia Pacific LNG remains a key earnings contributor

Origin’s Integrated Gas business continued to represent a significant part of the company’s operating profile through its investment in Australia Pacific LNG. For FY26, Australia Pacific LNG production reached 668 petajoules, exceeding the midpoint of the company’s guidance range of 645 to 680 petajoules.

During the June quarter, production was 165 petajoules, remaining stable compared with the previous quarter. Revenue increased 6% from the prior quarter to $1.964 billion, supported by higher LNG spot volumes and pricing, along with increased short-term domestic sales volumes.

Origin received fully franked dividends of $911 million from Australia Pacific LNG during FY26, placing the result toward the upper end of its guidance expectations. The contribution from the LNG business continues to provide financial support while the company manages changes across its broader energy portfolio.

For FY27, production guidance has been set between 625 and 670 petajoules, with the expected decline mainly attributed to natural field decline. Origin also expects higher capital expenditure and operating expenditure of between $3.0 billion and $3.3 billion, reflecting increased drilling activity designed to support future production.

The company noted that additional drilling investment requires a longer timeframe before reaching peak production benefits, with approximately two years expected between investment and production impact.

Energy Markets expands customer base and storage capability

Origin’s Energy Markets segment continued to develop its position within Australia’s electricity and gas retail sector. Electricity sales volumes increased by 1% during FY26, while gas volumes declined by 17% due to lower demand from large customers and reduced power generation requirements.

Customer growth remained a significant operational focus, with Origin adding 243,000 customer accounts during FY26 across electricity, gas and internet services. The increase reflects continued competition within the Australian retail energy market and the company’s focus on expanding its customer offering.

Battery storage capacity also continued to grow. Origin reported that it now has 980 MW / 3,408 MWh of battery storage capacity in operation, supporting its involvement in Australia’s evolving electricity market.

The company expects FY26 Energy Markets EBITDA to be above the midpoint of its guidance range of $1.55 billion to $1.75 billion. The result reflects contributions from retail operations, energy generation assets and ongoing investment in technology and customer solutions.

Origin also disclosed a data security incident affecting approximately 900,000 customers. The company confirmed that information was accessed and stated that the matter remains under criminal investigation. Origin continues to support affected customers while the review process progresses.

Octopus Energy Group continues global expansion

Octopus Energy Group remained a major growth area within Origin’s portfolio during FY26. The digital energy business continued expanding its customer base, adding 343,000 accounts during the June quarter and reaching full-year organic growth of 2.2 million accounts.

The company reported growth of approximately 812,000 accounts in the United Kingdom and around 1.4 million accounts internationally during FY26. This expansion highlights Octopus Energy’s increasing presence across global energy markets.

Kraken, Octopus Energy’s technology platform, also continued to develop. Kraken FY26 revenue increased by 19%, while contracted accounts reached 95 million. The platform provides technology solutions for energy retailers and utilities across multiple markets.

In July 2026, Kraken and Octopus Energy formally separated following the completion of a US$1 billion Kraken equity raise. The transaction represents a further step in the development of Kraken as an independent technology platform while maintaining its relationship with Octopus Energy.

Octopus Energy Group’s FY26 EBITDA is expected to be around the midpoint of guidance between negative $70 million and positive $30 million. The UK retail business is expected to report its fourth consecutive year of profitability, supported by continued customer growth and investment in smart energy products.

Renewable energy technology remains a strategic focus

Origin continues to increase its involvement in renewable energy and flexible electricity solutions as Australia’s energy system undergoes structural changes.

The company’s investment in battery storage capacity supports the broader shift toward renewable generation, where energy storage plays an important role in managing supply and demand fluctuations.

Through Octopus Energy, Origin also has exposure to virtual power plant technology. Octopus Energy reported approximately 3.2 GW connected to its virtual power plant network across around 482,000 devices, representing a 63% increase over the previous 12 months.

The expansion of smart tariffs, distributed energy resources and digital energy management systems remains central to the company’s strategy as consumer energy markets continue to evolve.

Financial outlook and business priorities

Origin’s FY26 update shows a company balancing established energy operations with investment in future-focused businesses. Australia Pacific LNG continues to provide significant operational support, while Energy Markets and Octopus Energy represent areas of customer expansion and technology development.

The company’s FY27 outlook includes lower LNG production expectations due to field decline, alongside increased spending on drilling activities aimed at supporting future production levels.

At the same time, Origin continues to navigate industry changes including energy transition requirements, infrastructure investment needs and increasing demand for digital energy solutions.

The company’s diversified business structure remains central to its approach as it manages traditional energy assets while developing exposure to renewable energy technologies and global digital platforms.

Conclusion

Origin Energy Ltd (ASX: ORG) delivered a broad operational update across its three business segments, with Australia Pacific LNG maintaining production above the midpoint of guidance, Energy Markets expanding its customer base and Octopus Energy continuing international growth. The company remains focused on balancing existing energy operations with investments in storage, digital platforms and renewable technologies. Future performance will continue to be influenced by commodity conditions, customer demand trends, regulatory developments and the pace of Australia’s energy transition.