Origin to Expedite Payment to Small Businesses

Australian electricity and gas supplier Origin Energy March 31 said it will support small business suppliers with shorter payment terms to help them with cash flow through the current period of economic uncertainty associated with the Covid-19 pandemic.

“For the next 6 months, Origin will accelerate standard payment terms for small business suppliers from 30 to 14 days from receipt of a valid tax invoice,” it said.

This expedited payment process is expected to benefit approximately 1,400 Australian small businesses, with an annual turnover of less than A$10mn (US$6.2mn), that supply goods and services to Origin.

Last week, Origin said it will temporarily pause activities at its Kyalla well site in Northern Territory and reschedule further work to the second half of the year owing to circumstances brought about by Covid-19 outbreak.