EnergyAustralia has reported operating earnings of $58 million for the year 2025 with overall earnings down slightly on 2024 as it tackles “retail headwinds”.
Parent company CLP Holdings made the report and said EnergyAustralia is making substantial progress on a flexible energy investment pipeline that will shape its portfolio through the next decade of Australia’s energy transition.
Earnings before interest, tax, depreciation, amortisation and fair value adjustments (EBITDAF) reached $690 million, down A$45 million from 2024.
EnergyAustralia said this performance reflects its efficient management of a generation portfolio that includes flexible gas, providing capacity during periods of elevated wholesale market demand.
The results were achieved despite ongoing intense retail competition, cost-of-living pressures, and rising expenses associated with business transformation.
“The strength of our wholesale operations helped offset retail headwinds, demonstrating the value of our integrated business model,” said EnergyAustralia Managing Director Mark Collette.
“Alongside that, our investment pipeline is now taking shape with projects like Wooreen, Mount Piper and Hallett BESS all progressing to offer the flexible firming capacity the grid will increasingly depend on as coal exits.
“From a people perspective, we’re proud to achieve our best safety standard yet, recording a Total Injury Frequency Rate (TIFR) of just 1.75, the lowest in our history.”
The company’s generation business saw improved financial performance by leveraging its flexible portfolio to meet high wholesale demand.
“The successful completion of major maintenance at both Mount Piper and Yallourn, combined with our flexible portfolio, means we are well-placed to continue meeting customer needs while we transition to renewable energy,” Collette said.
Retail margins, however, remained under pressure, prompting a multi-year transformation to modernise technology infrastructure, streamline operations, and improve long-term efficiency.
EnergyAustralia is advancing a series of major energy transition projects. The Wooreen Energy Storage System in Victoria is a 350MW/1400MWh facility capable of powering 230,000 homes for four hours during peak demand, and it is on track to begin commercial operations in 2027.
The company has also partnered with EDF Power Solutions Australia on the Lake Lyell Pumped Hydro Energy Storage project in New South Wales, which could deliver 385MW for up to eight hours, with final investment decisions expected in 2026.
The 250MW/1000MWh Mount Piper Stage 1 BESS in New South Wales is supported by the Federal Government’s Capacity Investment Scheme and is expected to power up to 320,000 homes and small businesses, with a final investment decision anticipated later this year.
Key 2026 projects also include the Kidston pumped hydro (250MW/2,000MWh) in Queensland, Orana BESS (200MW/800MWh) in New South Wales, and Hallett BESS (50MW/245MWh) in South Australia.
