Arguments over the proposed takeover of Origin Energy demonstrate the confusion about energy transition. What is clear is that the business is performing well.
Decision day is looming for one of Australia’s biggest corporate plays in the shift to renewable energy as well as the ultimate ownership of a major public company.
That promise of acceleration and $20 billion to $30 billion worth of investment over 10 years was a key reason for the Australian Competition and Consumer Commission’s willingness to overlook competition concerns to approve the deal.But, but, but … the delayed pace of the energy transition and confusion about the resilience and cost of Australia’s energy supplies translates into increasingly complicated choices for companies and customers, as well as for governments.
That scheme requires the approval of 75 per cent of Origin’s shareholders. AustralianSuper, with close to 14 per cent, is not the only big investor suggesting the bid Anticipated improvement next year includes domestic energy markets and LNG production while the 20 per cent ownership of Octopus, the second-largest UK energy retailer, produced a “step change” in earnings last year that looks certain to grow. Perkins says Origin is “delighted” with theIts valuable Kraken software program is expanding rapidly internationally towards a target of 100 million customers by 2027.
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