Origin Energy, one of Australia’s largest power and gas retailers, is no longer purely a locally held company. In 2024, a consortium led by Brookfield Asset Management (Canada) and EIG Partners (US-based private equity) successfully acquired Origin in a deal worth about AUD $20 billion. The consortium took Origin private, delisting it from the ASX, with Brookfield primarily managing Origin’s energy markets and retail arm, while EIG’s affiliate MidOcean Energy took control of Origin’s LNG interests. This marked one of the biggest energy takeovers in Australian history and shifted the company’s ownership into global hands, though its operations remain deeply rooted in Australia.

Who Owns Origin Energy Now?

• Brookfield Asset Management: Focused on Origin’s retail and energy markets business, with a strategy to accelerate renewable investments and modernise infrastructure.

• EIG Partners (via MidOcean Energy): Owns Origin’s stake in the Australia Pacific LNG project, targeting growth in LNG exports.

• AustralianSuper: Australia’s largest superannuation fund, initially resisted the deal, citing valuation concerns, but eventually accepted, though it does not hold controlling ownership post-acquisition.

Why Did This Takeover Happen?

The deal was driven by two big trends:

• Energy transition pressures: Brookfield positioned itself as a player to fast-track Origin’s shift from coal to renewables.

• Global LNG demand: EIG wanted stronger access to Australia’s LNG exports through Origin’s APLNG stake.

For many Australians, this shift raised questions around national energy security, foreign ownership of critical infrastructure, and whether the promises of more renewables will translate into lower household bills.

What Does This Mean for Customers?

From a customer’s perspective, day-to-day retail services remain under the Origin brand. Billing, energy plans, and customer support haven’t been disrupted. However:

• There’s growing expectation that Origin will invest heavily in renewable energy projects.

• Some analysts suggest Brookfield’s involvement could accelerate the retirement of coal assets like Eraring power station.

• Trust and reliability remain key concerns, especially with global investors now steering decisions.

FAQs

Is Origin still Australian?
Operationally, yes – it’s headquartered in Sydney and serves millions of Australian households. But ownership now lies with international investors.

Will Origin’s prices change under Brookfield and EIG?
Not immediately. Retail prices are still regulated and competitive, but investment strategies could shape future pricing.

Does Origin still own LNG interests?
No. Its LNG assets were carved out to MidOcean Energy (EIG). The retail and electricity generation businesses remain with Brookfield’s group.

Ownership shifts don’t change the fact that Australians still see Origin as their local energy provider. But with Brookfield and EIG calling the shots, the brand’s future is tied closely to the pace of the global energy transition. For a customer’s perspective, here’s a detailed origin business energy review that explores how ownership affects trust and reliability. And if you’d like a wider context, the Australian Energy Regulator provides transparent updates on pricing, reliability, and market reforms.