EnergyAustralia first half earnings jump 33.5%
Full story: https://grafa.com/en/news/australia/energyaustralia-first-half-earnings-jump-33-5
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EnergyAustralia reported a 33.5% rise in first-half operating earnings to HK$223 million.
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Higher retail electricity tariffs improved overall earnings despite customer losses and lower wholesale power prices.
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Owner CLP Group expects softer wholesale energy prices to temper financial performance across upcoming months.
EnergyAustralia, owned by parent entity CLP Group, posted first-half operating earnings of HK$223 million.
The result represents a 33.5% increase compared to the HK$167 million recorded last year.
Higher average retail tariffs supported earnings growth during the six months to June.
However, intense market competition caused customer accounts to slide 4.3% down to 2.23 million.
CLP Group stated that weaker wholesale electricity prices at Mount Piper will moderate returns in coming months.
Power output from Yallourn increased following major maintenance work ahead of its scheduled June 2028 closure.
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