The news:<\/b> Australia\u2019s top energy retailer and gas producer Origin Energy has narrowed full-year earnings guidance for its main energy markets business amid favourable conditions.<\/p>\n
The numbers:<\/b> The company now expects underlying earnings at the energy markets business to be in the range of $1.3 billion to $1.4 billion, up from its previous estimate of $1.1 billion to $1.4 billion.<\/p>\n
However, its UK renewable energy business Octopus Energy is now expected to report a full-year loss of 0 to $100 million, down from the previous guidance of up to $100 million profit.<\/p>\n
The context:<\/b> Origin said the upward revision in the energy markets business was due to operational improvements and wholesale portfolio benefits, with strong electricity volumes and generation performance, lower green certificate costs.<\/p>\n
It blamed unseasonably warm weather in the UK in April and May as well as one-off impacts relating to the government\u2019s price guarantee subsidy for the deterioration in Octopus earnings.<\/p>\n","protected":false},"excerpt":{"rendered":"The news: Australia\u2019s top energy retailer and gas producer Origin Energy has narrowed full-year earnings guidance for its…\n","protected":false},"author":2,"featured_media":131922,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[58114,51,1830,35,2441,16,15],"class_list":{"0":"post-131921","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-asxorg","9":"tag-business","10":"tag-earnings","11":"tag-energy","12":"tag-markets","13":"tag-uk","14":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114571301949248384","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/131921","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=131921"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/131921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/131922"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=131921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=131921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=131921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}