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In November 2022, Origin received a takeover offer from a Brookfield Asset Management and EIG Global Energy Partners consortium for A$18 billion.[16][17] Origin agreed to the offer in March 2023, which sees its energy market business owned by Brookfield and its partners, while EIG's MidOcean Energy owns Origin's integrated gas business.[18] In October 2023, the takeover was approved by the Australian Competition & Consumer Commission.[19] The acquisition was terminated in December 2023 after Origin shareholders led by its largest investor, AustralianSuper, opposed the deal, failing to meet the required 75% threshold.[2]

Concerns were expressed by local officials on the fracking operation, fearing that it could affect their ability to get groundwater and stating the local officials did not fully understand the contracts they were signing with petroleum companies.[32] Accusations that Origin did not consult with traditional landowners before starting their planned exploration[33] were refuted by the Northern Land Council which stated it understood the text in the contracts and consulted with traditional Aboriginal landowners.[34] Origin stated that it conducted multiple checks when installing a well and that fracking stops if a check fails.[32]

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The energy sector is undergoing far reaching change. The three Ds - Decentralisation, Decarbonisation and Digitisation - are affecting all areas of business. Power generation is more decentralised as consumers become producers through solar energy at home. Carbon intensive power stations are being phased out. At the same time, digitally empowered consumers not only expect more, they want to control when and how they use energy.

Origin had already gone a long way to meeting consumer demands by giving them digital tools. But as technology made meters, appliances and energy grids smarter, it knew digital interactions would grow exponentially.

Similarly, the flexibility of the cloud allows Origin to experiment with new initiatives in a risk-free way. These trials are critical to test the waters in a changing energy environment. Now it can be set up quickly with no impact on daily operations. Origin can also take advantage of new and evolving services that are already tested and integrated. it can try them and then discard them if they're not a good fit, which is almost impossible with on premises infrastructure.

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that it has signed a memorandum of understanding (MoU) for a joint study to build a supply chain of renewable energy-derived ammonia (green ammonia), with a major Australian energy company Origin Energy (Origin; Headquarters: Sydney. Australia).

As a next-generation clean energy source that produces no carbon dioxide (CO2) during combustion, and as a carrier for transporting hydrogen, ammonia is in the spotlight as a promising energy resource that can help meet the 2050 target set by the Japanese government for achieving a carbon-neutral society. In addition, green ammonia-produced using a renewable energy source that emits no CO2-can make a major contribution to reducing CO2 in the supply chain.

The MOL Group aims at net zero greenhouse gas (GHG) emissions by 2050 in the "MOL Group Environmental Vision 2.1" (Note 1). It will not only reduce GHG emissions from its operated vessels, but also contribute to reducing GHG emissions generated by society and realizing a low-carbon society by taking a proactive approach to building supply chains for cleaner energy resources. (Fig.1)

Origin Energy Limited is an Australia-based integrated energy company. The principal activity of the Company is the operation of energy businesses, including exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas. The Company operates in three segments: Energy Markets, Share of Octopus Energy, Integrated Gas, and Corporate. The Energy Markets segment is engaged in energy retailing and wholesaling, power generation, and liquefied petroleum gas (LPG) operations predominantly in Australia. The Share of Octopus Energy segment includes the Company's investment in Octopus Energy Holdings. The Integrated Gas segment is focused on the investment in Australia Pacific LNG (APLNG), and exploration interests in the Cooper-Eromanga, Canning and Browse Basin, and interest in Hunter Valley Hydrogen Hub on Kooragang Island. The Corporate segment provides various business development and support activities.

As an owner of fossil fuel assets our company acknowledges it is exposed to reputational, legal and market risks associated with the ongoing decarbonisation of energy markets, including: decreased fossil fuel demand; increased demand for low-carbon energy; shortened lifespan of carbon-intensive assets; changing energy market dynamics; regulatory intervention and policy; litigation; and the introduction of new low-carbon technologies.[4] Changing weather patterns and more extreme weather events, driven by climate change, also directly confront our company's business operations.

SYDNEY--A consortium led by Brookfield Asset Management raised its takeover offer for Australia's Origin Energy to around US$10.50 billion, as it tries to sway investors unimpressed by previous bids for the energy retailer and generator.

"We are pleased to have agreed with the consortium a significant increase in the cash consideration, reflecting the value of Origin's assets, people, and the company's strategic positioning for the energy transition," Origin Chairman Scott Perkins said.

Brookfield and EIG have argued that the deal is good for Australia, which has been slow to shift toward cleaner energy and has instead relied on coal to power its economy. Origin's Energy Markets division is Australia's fourth-largest emitter of greenhouse gases because much of the electricity that it generates comes from plants that burn thermal coal.

Brookfield has said it would invest to change that through its Brookfield Global Transition Fund, which is led by former Bank of England Governor Mark Carney and is dedicated to supporting the global transition to clean energy. It proposed spending between A$20 billion and A$30 billion to build out Origin's renewables and storage assets over the decade through 2033.

As a major contributor to the energy industry in Australia, Origin recognises both the responsibility and opportunity to deliver climate change action. In 2015, Origin became the first energy company in the world to sign up to seven of the We Mean Business commitments. And in December 2017, Origin became the first Australian company to have an endorsed science-based target.

The transition to a low emissions energy sector is a key strategic priority for Origin. There are differing views on the magnitude and speed at which change is required, particularly in the energy sector. At Origin, we unequivocally support the Paris Climate Accord and actions consistent with ensuring global temperatures rise at a maximum of 2oC. For us, the alignment with the Paris Agreement made a science-based target an excellent framework for our future business direction. Our target will help us deliver our primary goal of getting energy right for our customers, our communities and the planet.

Another challenge faced by energy companies in Australia is the perception that decarbonization (in particular renewable energy) will lead to higher energy costs. Affordability is a key issue for customers and other stakeholders like government and Origin strive to provide information regarding the positive effect a structured, long-term decarbonization plan will have on energy prices. We will continue to provide transparent, clear information to our customers and welcome feedback at any time.

Consistent with our public commitment to add up to 1,500 MW of new renewable energy by 2020, we continue to invest in renewable generation. By 2020, we expect renewables to grow from approximately 10 per cent of our generation mix today to more than 25 per cent[2].

Setting a science-based target addresses the concerns of our customers, many of whom are thinking about their own carbon impact. The target also helps Origin drive innovation, through smarter, cleaner energy products and services.

The response to our target has been overwhelmingly positive. The target, along with our scenario analysis, has helped Origin to demonstrate our leadership position on climate change. Origin is increasingly seen to be strategically well placed in a changing energy market with a focus on renewables and a large flexible existing portfolio.

Businesses in the energy sector and beyond have also reached out to Origin, as the first SBTi-endorsed Australian company, to assist with setting their carbon targets. It is fantastic to know that we have inspired others to act.

In 2008, Origin Energy's Retail business found itself at a crossroads. The company had certainly been growing over the past 10 years, primarily as a result of a series of acquisitions, to become one of the top utilities in the country with three million customers and some 1,400 employees and contractors. It had 20 percent market share and was the most profitable of Australia's energy retailers.

Mark Sherratt, a Wipro partner for energy and utilities business transformation, has been the project's lead consultant and recalls that they also had a different approach to the bid than their competition. "We were prepared to go in and do transition work prior to doing the transformation," he notes. "Others wanted to do the transformation first but we wanted them to see some initial benefits as soon as possible. Our advantage is that, to us, transforming an organization when in a global model is not a big issue. We're already a globally distributed company." So shifting low-risk jobs first would give Origin immediate tangible benefits.

Essentially, Origin was taking two linked journeys. One was the IT project, the other was business transformation. With the transition underway, Sherratt led Origin's management through a series of workshops that challenged their thinking across business vision, brand and employee values, customer and product strategy, operational and service excellence drawing on best practices from their local competition, global best practices in energy retailing, and best practices in the telecom, retail and retail banking industries. e24fc04721