Tom Allen, an energy analyst at UBS, said the mid-point of the guidance range was 13 per cent lower than consensus. “While fiscal year 2025 will see earnings reset lower, Origin reiterates that it sees structural tailwinds into the outlook,” Allen said.

For the first time since 2021, the Australian Energy Regulator this year opted not to hike the consumer price caps, known as “default market offers”, in most regions. Instead, from July 1, it has reduced prices for most customers on standard retail plans by up to 7 per cent for households and up to 10 per cent for small businesses.

Figures supplied to a federal cost-of-living inquiry this week showed the number of Origin Energy customers seeking financial assistance had more than doubled in the past two years, with 98,000 customers on hardship program as of June.

Calabria said Origin was acutely aware of the pressure on household budgets amid the rising cost of living.

“We welcome energy bill relief for all households provided by federal and state governments, with Origin’s focus on supporting our most vulnerable customers with $100 million committed across fiscal years 2024 and 2025, including to freeze tariffs for these customers,” he said.

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Calabria on Thursday also said Origin’s balance sheet remained strong, supporting an increase in shareholder returns and enabling capital to be reinvested in renewable energy and storage projects across the country.

“We continue to demonstrate good momentum on executing Origin’s strategy,” he said.

“We have established a pipeline of renewables developments in NSW, including the large-scale and advanced Yanco Delta wind farm development, along with the Ruby Hills and Northern Tablelands wind farms and Salisbury Solar Farm projects.”

Calabria added that Origin’s 2024 results highlighted the benefits of its “diverse portfolio”, which spans renewable energy, coal and gas-fired power stations, domestic energy and broadband retailing to 4.7 million customers, and its stake in its Queensland liquefied gas joint venture, Australia Pacific LNG (APLNG).

It owns 22 per cent of Octopus Energy, which has grown to become Britain’s biggest power and gas retailer, and is expanding rapidly into renewable energy and intelligent home electric appliances.

APLNG delivered greater production volumes across the year, but faced declining commodity prices as the global energy crunch eased and benchmark LNG prices retreated.

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