Origin Energy reports $1 billion profit amid cost of living crisis

Origin Energy's profits increased by 83.5 per cent last financial year, according to a report released on Thursday.

Origin Energy, one of Australia’s largest energy producers, has reported an 83.5 per cent surge in profits for the financial year ending 2023, equating to a net annual profit of $1.06 billion. Outside the Australian Stock Exchange, however, the energy provider’s billion-dollar profit margin has been less well-received, with some questioning whether the company’s savings were being passed on to consumers.As the cost of living soars, these Australians can no longer afford to pay for bare essentials

“Australians will find it hard to swallow that Origin can post such an enormous increase in profits especially when we hear heartbreaking stories of people going without heating, hot water or sacrificing lighting their homes at night just to be able to make ends meet,” said ACTU assistant secretary Joseph Mitchell.

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