News: ORG Origin Energy Revises FY21 Energy Markets Underlying EBITDA In Range Of $940-$1,020...

April 16 (Reuters) - Origin Energy Ltd (ORG) :

• REVISED ENERGY MARKETS UNDERLYING EBITDA GUIDANCE FOR FY2021 IN RANGE OF $940-$1,020 MILLION
• ARBITRATOR HAS NOW ISSUED A PARTIAL AWARD IN A PRICE REVIEW FOR GAS PURCHASED FROM BEACH ENERGY'S OTWAY BASIN FIELDS
• EXPECTS CASH DISTRIBUTION FROM AUSTRALIA PACIFIC LNG TO BE GREATER THAN $650 MILLION IN FY21
• PRICE REVIEW OUTCOME EXPECTED TO RESULT IN INCREASE IN CO'S COST OF SUPPLY OF $30-$40 MILLION FOR FY2021, FURTHER TO $60-$80 MILLION IN FY2022
• CHALLENGING OPERATING CONDITIONS IN ENERGY MARKETS ARE EXPECTED TO PERSIST IN FY2022
• ELECTRICITY GROSS PROFIT IS EXPECTED TO BE LOWER, PRIMARILY DUE TO A $20/MWH REDUCTION IN FORWARD ELECTRICITY PRICES IN FY22
• NATURAL GAS GROSS PROFIT IS EXPECTED TO DECLINE IN FY2022
• EXPECTS A FURTHER 8 PJS OF GAS SUPPLY TO UNDERGO A PRICE REVIEW IN FY2022 RELATED TO A CONTRACT WITH BEACH ENERGY FROM COOPER BASIN
• EXPECTS TO BENEFIT FROM A HIGHER REALISED OIL PRICE IN FY2022