When Origin can’t get coal, we must reserve it

Here’s the hilarity of the east coast energy crisis laid bare:

Origin Energy has slashed its energy markets earnings forecast for 2022 by a quarter and withdrawn earnings guidance for the 2023 financial year amid huge volatility in electricity markets and coal supply problems at its Eraring plant in NSW.

The power operator said energy markets underlying earnings would fall by 26 per cent at the mid-range to $310m-$460m from the original guidance of $450m-$600m.

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