Frank Calabria

Origin operates across the energy value chain: it is one of Australia's largest electricity retailers (serving around 4.5 million customer accounts), a major power generator (including the Eraring coal-fired power station, the largest in Australia), and a significant LNG exporter through its 27.5% stake in Australia Pacific LNG (APLNG) in Queensland. Calabria's tenure has been defined by the challenge of managing Australia's energy transition. He announced the planned early closure of the Eraring coal plant (originally scheduled for closure, then extended due to grid reliability concerns), while simultaneously investing in renewable energy generation and battery storage. The tension between retiring fossil fuel assets and maintaining reliable, affordable power supply has made Origin a lightning rod in Australia's energy policy debates. In 2023, a consortium led by Brookfield Asset Management and EIG Partners proposed a $15.3 billion takeover of Origin, which would have been one of Australia's largest-ever private equity deals. Shareholders narrowly rejected the bid, leaving Calabria to execute the energy transition strategy as a public company. His decisions on coal plant retirement timing, renewable energy investment pace, APLNG dividend and expansion strategy, electricity retail pricing, and the balance between shareholder returns and transition investment are the central variables for Origin's stock.