Origin Energy's profit jumps on soaring prices

Bengaluru

ORIGIN Energy, Australia's top power and gas retailer, more than tripled its half-year underlying profit on the back of soaring energy prices and raised its earnings forecast for energy markets, sending its shares up 6 per cent.

Origin also sharpened its target for cutting costs at its Australia Pacific liquefied natural gas (APLNG) project, aiming to break even at US$45 a barrel by June, down from a target of US$48.