Endeavour Energy Annual Performance Report - Parliament of New ...

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ABOUT THIS REPORT This report provides a candid account of Endeavour Energy’s performance during the financial year 2010–11. It notes Endeavour Energy’s successes, areas for improvement and our future direction and challenges. The theme for this year’s report reflects the focus of our efforts this year: improving customer value. Affordable, reliable and safe electricity supply underpins lifestyles, creates jobs and powers some of Australia’s largest and fastest growing regional economies. Maintaining the advantages this brings to our customers and our communities is essential for our current and future prosperity. The front cover shows a typical residential street in the North West Growth Sector. This report complies with the requirements of the NSW Annual Reports legislation and embraces the principles of the Global Reporting Initiative (GRI). Statutory accounts and financial information are verified by the NSW Auditor General. We have reported our emissions using the National Greenhouse and Energy Reporting Scheme methodologies where available. We use the National Greenhouse Accounts where such methodologies are unavailable and use relevant environmental key performance indicators developed by the Energy Supply Association of Australia. We have substantially reduced printed copies of the report this year to reduce costs and encourage sustainable practices. It was produced at a cost of $32,996 (GST inclusive). Further information about Endeavour Energy is available at our website at www.endeavourenergy.com.au or via email correspondence: endeavourenergy@endeavourenergy.com.au Project management Design Photography Editing Printing Corporate and Government Affairs, Endeavour Energy Impress Design Penelope Clay and NPB Photographics Businesswriters & Design SOS Printing © Endeavour Energy 2011 This work is copyright. Material contained in this document may be reproduced for personal, in-house or non-commercial use without formal permission or charge provided there is due acknowledgement of Endeavour Energy as the source. Requests and enquiries concerning reproduction and rights for a purpose other than personal, in-house or non-commercial use should be addressed to the Manager Corporate and Government Affairs, Endeavour Energy, PO Box 6366, Blacktown NSW 2148. ISSN 1834-0733
Contents LETTER TO SHAREHOLDING MINISTERS 31 October 2011 The Hon. Mike Baird MP Treasurer Level 36, Governor Macquarie Tower 1 Farrer Place SYDNEY NSW 2000 The Hon. Greg Pearce MLC Minister for Finance and Services Level 36, Governor Macquarie Tower 1 Farrer Place SYDNEY NSW 2000 Dear Ministers REPORT ON PERFORMANCE FOR THE YEAR ENDED 30 JUNE 2011 This report details Endeavour Energy’s performance, operations and statement of accounts for the year ended 30 June 2011, in accordance with the provisions of the Annual Reports (Statutory Bodies) Act 1984 and the principles of the Global Reporting Initiative. It is submitted on behalf of the Board of Endeavour Energy for tabling in Parliament. Copies are being sent to the Auditor-General, the Minister for Resources and Energy, Chairperson, Community Relations Commission, and key stakeholders. The report is available on our website at www.endeavourenergy.com.au. Sincerely Michael McLeod Chairman Vince Graham Chief Executive Officer Our organisation 2 Year at a glance 3 Report by the Chairman and Chief Executive Officer 4 Our plans and priorities 6 Our performance 8 Safety 8 Network plan 10 Customer value 12 Leverage technology 14 Manage business risk 16 Delivering performance through people 17 Our operations 18 Network 18 Retail 26 Our people 28 Our community 32 Environment 35 Governance 38 Management discussion and analysis 43 Financial statements 46 Appendices 93 Endeavour Energy Annual Performance Report 2010–11 1
Page 1: ANNUAL PERFORMANCE REPORT 2010-11 I
Page 5 and 6: YeAR at a Glance Items 2009-10 2010
Page 7 and 8: To that end, we pursued our second
Page 9 and 10: Endeavour Energy’s six strategic
Page 11 and 12: Performance indicator: lost time in
Page 13 and 14: Performance indicator: Capital expe
Page 15 and 16: Efficiency reviews to reduce costs
Page 17 and 18: Each year we investigate bushfire r
Page 19 and 20: STRATEGIC OBJECTIVE 6 - DELIVER PER
Page 21 and 22: Network Strategy Network business o
Page 23 and 24: Major works in progress 2010-11 con
Page 25 and 26: Major works in progress 2010-11 con
Page 27 and 28: The NSW Code of Practice - Demand M
Page 29 and 30: Network-related calls increased fro
Page 31 and 32: New apprentices vital to our workfo
Page 33 and 34: Equal employment opportunity As par
Page 35 and 36: Multicultural policies and services
Page 37 and 38: 06 8 % reduction in greenhouse emis
Page 39 and 40: Environmental management system Our
Page 41 and 42: ENDEAvoUR ENERGY’S GoveRNANCE AND
Page 43 and 44: EXECUTIve LEADERshIP TEAM Vince Gra
Page 45 and 46: 08 $ 245 m operating profit after t
Page 47 and 48: Debt Balance sheet debt increased b
Page 49 and 50: Directors’ Report For the yEAR en
Page 51 and 52: Statement of Comprehensive Income F
Page 53 and 54:
Statement of Changes in Equity For
Page 55 and 56:
Statement of Cash Flows For the yEA
Page 57 and 58:
2 Statement of Significant Accounti
Page 59 and 60:
Page 61 and 62:
Page 63 and 64:
Page 65 and 66:
4 Expenses 2011 $’000 2010 $’00
Page 67 and 68:
5 Gain/(loss) on sale of Retail bus
Page 69 and 70:
7 Deferred Tax (Assets)/Liabilities
Page 71 and 72:
8 Cash Flow Information continued (
Page 73 and 74:
9 Trade and Other Receivables conti
Page 75 and 76:
12 property Plant and Equipment con
Page 77 and 78:
13 Intangible Assets Software $’0
Page 79 and 80:
14 Employee Benefits - Superannuati
Page 81 and 82:
16 Other Current Liabilities 2011 $
Page 83 and 84:
21 Financial Instruments continued
Page 85 and 86:
Page 87 and 88:
Page 89 and 90:
Page 91 and 92:
23 Expenditure Commitments continue
Page 93 and 94:
27 prudential Requirements An unsec
Page 95 and 96:
Appendices Contents Five-year stati
Page 97 and 98:
Australian Financial Services Licen
Page 99 and 100:
Executive Remuneration General prin
Page 101 and 102:
Table A: Number of applications by
Page 103 and 104:
Implementation of Price Determinati
Page 105 and 106:
GLossARY The Australian Consumer La
Page 107:
Ausgrid LOCATIONS and contacts Kand
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