Hide message
EnergyAustralia reported operating earnings of A$58m for the year ended 31 December 2025, as disclosed today in Hong Kong by CLP Holdings. The company is making substantial progress advancing a flexible energy investment pipeline that will define its portfolio through the next decade of Australia’s energy transition.
EBITDAF for the year was A$690 million, a decline of A$45 million compared to 2024.
EnergyAustralia’s financial performance reflects the company’s efficient management of its generation portfolio, including flexible gas, guaranteeing capacity during periods of elevated wholesale market demand. This achievement occurred amidst ongoing intense retail competition, continued cost-of-living pressures, and increasing expenses associated with business transformation.
EnergyAustralia Managing Director Mark Collette said the results reflected a business deliberately investing through the transition, with the benefits of that investment increasingly visible in the company’s portfolio.
"The strength of our wholesale operations helped offset retail headwinds, demonstrating the value of our integrated business model," said Mr 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.
“We’re investing at scale and at the right moment in the transition cycle. The projects we’re delivering provide firming capacity the grid needs and position EnergyAustralia to compete strongly in the market that emerges on the other side of the transition.
“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,” Mr Collette said.
Generation portfolio performance
The financial performance of EnergyAustralia's generation business improved due to effectively leveraging the 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,” Mr Collette said.
Customer business and market challenges
Intense retail competition and cost-of-living pressures continued to compress margins in the customer business. EnergyAustralia is executing a multi-year transformation to modernise technology infrastructure and streamline operations, targeting sustainable efficiency improvements and long-term growth.
“We will continue to deliver targeted programs and operational improvements that strengthen the support for customers experiencing hardship as we focus on managing the business efficiently in a challenging market,” said Mr Collette.
“We are enthusiastic about the performance of our innovative products. Community Battery Ease is providing customers access to community storage, saving the investment in batteries. EV Night Boost is providing a bespoke product for EV owners in NSW.”
Major energy transition projects
- Wooreen Energy Storage System: Construction commenced on this 350MW/1,400MWh facility in Victoria, capable of powering 230,000 homes for four hours during peak demand. The project is backed by A$667 million in syndicated loan financing and a 50:50 partnership with Banpu Energy Australia. The facility is on track to commence commercial operations in 2027.
- Lake Lyell Pumped Hydro Energy Storage: EnergyAustralia formed a joint venture with EDF power solutions Australia to develop this New South Wales project, which could deliver 385MW for up to eight hours. An Environmental Impact Assessment was submitted in February 2026, with final investment decisions expected during 2026.
- Mount Piper Stage 1 Battery Energy Storage System: The 250MW/1,000MWh project in New South Wales secured support from the Federal Government's Capacity Investment Scheme. Expected to power up to 320,000 homes and small businesses, with a final investment decision anticipated in 2026.
Key projects scheduled for 2026 include the Kidston pumped hydro project 250MW/2,000MWh) in Queensland; the Orana BESS project (200MW/800MWh) in New South Wales; and Hallett BESS (50MW/245MWh) construction in South Australia.
“The investments we are making now are the ones that will determine our competitive position in the mid-2030s. From long-duration pumped hydro to grid-scale batteries, the portfolio we are assembling is designed for exactly the kind of firm, flexible capacity Australia’s grid will need most,” Mr Collette said.
Media contact:
+61 3 9060 0079