“Market Cap $14.5 B As of May 2014
At a Glance
- Industry: Electric Utilities
- Founded: 2000
- Country: Australia
- CEO: Grant Alfred King
- Employees: 6,354
- Sales: $13.96 B
- #688 in Sales
- #821 in Assets
- #776 in Market value
Country’s biggest energy retailer, with more than 4 million gas and electricity accounts across the east coast and South Australia. It’s also Australia’s largest electricity generator and a major gas explorer and producer. Sales have doubled since its only other Fab 50 appearance, in 2008. A further boost is expected next year, when the $23.3 billion Australia Pacific LNG project in northern Queensland starts production. It holds a 37.5% stake in the project, which will convert huge coal-seam gas reserves to liquefied natural gas for export to Asia.“
“Origin Energy History
Origin Energy was formed in February 2000, as a result of a demerger from the Australian conglomerate Boral Limited, in which the energy business was removed from the building and construction materials business to form the new company.
Between 2001 and 2002, Origin acquired the Victorian electricity network suppliers Powercor and CitiPower. In 2004, the SEA Gas Pipeline was completed and commissioned, which served to link the Victorian and South Australian gas markets. During this time, Origin obtained 50% interest in the Kupe Gas Field, and managed to obtain Edison Mission Energy‘s 51.4% interest in New Zealand‘sContact Energy.
On 27 November 2006 the Queensland Government announced the sale of Sun Retail Pty Ltd, the former retailing arm of ENERGEX to Origin Energy for $1.202 billion.Sun Retail includes some 840,000 residential, commercial and industrial electricity customer accounts and 55,000 LPG customers.
On 15 December 2010, Origin Energy announced that it would purchase the retail divisions of Country Energy and Integral Energy from the Government of New South Wales, at a total cost of A$3,250 million, as well as entering a GenTrader agreement with Eraring Energy (in which Origin supplies fuel, pays certain charges, and can dispatch and sell electricity output, while Eraring Energy owns, operates and maintains the power stations). The transaction was completed on 1 March 2011.”
*Information from Forbes.com and Wikipedia.org
**Video published on YouTube by “Origin Energy“