It coincided with data from the Australian Energy Market Operator which showed that the June quarter was an “unparalleled period” for domestic energy markets with the wholesale spot prices averaging $264 a megawatt hour.

Origin, which owns a 27.5 per cent stake in APLNG after selling 10 per cent in October for $2.1 billion, said APLNG revenue for the June quarter increased 6 per cent and full year revenue increased 103 per cent.

Domestic gas sale volumes were up 4 per cent in the June quarter and the realised price was $16.43 a gigajoule.

Origin also reported a $2.2 billion write down relating to its wholesale electricity market hedging.

AEMO executive general manager for reform delivery Violette Mouchaileh said the June quarter was one of the most complex and challenging periods which underscored the need to accelerate the transition to the cheapest form of reliable electricity.

The high prices for domestic energy in the June quarter triggered intervention by AEMO and the imposition of wholesale price caps. The spot market was suspended for more than a week.

“What’s clear is the urgent need to build-out renewable energy with diversified firming generation, like batteries, hydro and gas, and transmission investment to provide homes and businesses with low-cost, reliable energy,” Mouchaileh said.

Coal fired generation outages reached a record level in late April of 3.6 gigawatts and peaked in June at 4.6 gigawatts. Gas generation was up 27 per cent to its highest level since 2017 and renewables generation increased 21 per cent.

AEMO said distributed photovoltaics continued to grow and now had an installed capacity of 2174 megawatts, an increased of 22 per cent in the quarter and the total renewable supply share reached 31.8 per cent, an increase of 3.7 per cent.