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

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05 OUR COMMUNITY Supporting oUR community REPAIRING QUeenslAND FlooD AND CYClone DAMAGE Endeavour Energy crews joined the effort to restore power to 380,000 Queensland customers in early 2011 after flooding in Brisbane and damage caused by Cyclone Yasi. In total 64 employees headed north to help repair extensive damage to the electricity network. Twenty-one of them spent three weeks in Tully and Mission Beach, among the worst affected areas in Northern Queensland, helping Ergon Energy restore power to homes, schools and businesses. The crews were part of Australia’s largestever deployment of electricity field staff assigned to clean up after a major weather event. In some communities, the damage caused by Yasi meant the network had to be rebuilt from the ground up. Prior to this effort, 43 employees and vehicles assisted ENERGEX to restore power to homes and businesses in flood-affected Brisbane. While in the city, our crews – mostly electrical fitters – inspected networks, replaced meters, reconnected customers to services and undertook underground inspections and repairs. Investment in the community Community partnerships Endeavour Energy’s community partnership program is designed to build relationships with the community we serve through initiatives supporting youth, education, safety and business excellence. Recipients must meet the social, environmental and regional development obligations set out in the NSW State Owned Corporations Act, and partnership programs must align with our strategic purpose, value and brand. In 2010–11, we provided $581,000 to community partners which included support for: • Australia Day celebrations across Western Sydney and the Illawarra. • Business Award programs across Western Sydney, the Illawarra, Blue Mountains and South Coast. • Youth sport programs targeting healthy lifestyles including those of the Western Sydney Rugby League Academy, the Department of Education’s NSW Schools Sports Foundation and the Illawarra and South Coast Surf Life Saving Clubs. • Arts and cultural programs for young people including ARTEXPRESS and Schools Spectacular. In line with our cost-saving programs, our community partnership funding has been reduced by 40% over the past three years and was further reviewed following the sale of Integral Energy’s retail business to Origin Energy in March 2011. Workplace giving Since its launch in July 2004, our workplace giving program I care! has donated more than $1.3 million to 11 employee-selected charities. Employees have the opportunity to make pre-tax donations to the program and their donations are matched dollar-for-dollar by Endeavour Energy up to $150,000 per year. Currently, 9% of our employees participate in I care! Queensland Flood appeal In 2010–11 Queensland was devastated by floods that disrupted the lives of more than 200,000 people in 22 towns and cities. In response to this disaster, Endeavour Energy set up a pre-tax payroll deduction option for employees to make a one-off donation to the Salvation Army’s Queensland Flood Appeal. (The Salvation Army is one of our workplace-giving charity partners.) Thanks to the generosity of our employees and an agreed dollar-for-dollar corporate matching fund, we were able to donate over $100,000 to the Salvos’ appeal. 34
06 8 % reduction in greenhouse emissions caused by our fleet Environment Above: ‘Our commitment to environmental responsibility’ – the theme for an employee photo competition to raise awareness of the environment. This was the winning photo taken by Operations Manager, Rodney Quick. As a socially responsible business, Endeavour Energy is mindful of its obligation to achieve sustained reductions in direct and indirect greenhouse gas emissions. A key part of our environmental strategy therefore is to drive an organisational response to reduce our own carbon footprint. Environmental policy Endeavour Energy’s environmental policy is based on respect for the environment and community in which we operate and the needs of future generations. The scope of this challenge is reflected in our Environment Strategy, under which the business seeks continual improvement through four key initiatives: • Responding to climate change. • Improving our performance. • Continuing to learn and driving cultural change. • Engaging with stakeholders. Compliance Endeavour Energy is required to comply with a number of statebased and national environmental schemes. Broadly, these schemes aim to reduce greenhouse gases or to improve energy efficiency for businesses and consumers. In 2010–11 we complied with the mandatory environmental requirements of the NSW Greenhouse Gas Reduction Scheme (GGAS), the Australian Government’s Large Scale Renewable Energy Target (LRET) and Small-scale Renewable Energy Scheme (SRES), the Queensland Government’s 13% Gas Scheme (GEC) and the NSW Energy Savings Scheme (ESS). The major change during the financial year was the commencement of the Small-scale Renewable Energy Scheme on 1 January 2011 to create small scale certificates primarily from solar panels from small sites (such as residential housing). The first quarterly surrender for this scheme occurred in April 2011. The final acquittal for the scheme will occur before 14 February 2012 and finalise Endeavour’s liability in light of the retail sale. The Commonwealth Governmentproposed carbon tax due to start on 1 July 2012 is expected to impact the present schemes. These impacts will become clearer in the lead up to the tax’s introduction. Greenhouse gas emissions Total greenhouse gas emissions directly attributed to our activities were 649,608 tonnes of carbon dioxide equivalent (CO 2 e). Total greenhouse emissions relating to distribution network line losses decreased by 5% to 627,129 tonnes of CO 2 e. Emissions from our vehicle fleet decreased by 8% compared to 2009– 10 while emissions from electricity consumption increased by 12%. Throughout 2010–11, Endeavour Energy continued to implement and monitor energy efficiency projects to reduce emissions. These projects included: • Three new energy-efficiency systems installed at field service centres. Eight systems are now installed across the business. • The continuation of a computer shutdown initiative where non-essential computers are automatically shut down outside normal working hours. Endeavour Energy Annual Performance Report 2010–11 35
Page 1 and 2: ANNUAL PERFORMANCE REPORT 2010-11 I
Page 3 and 4: Contents LETTER TO SHAREHOLDING MIN
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: Multicultural policies and services
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 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: 21 Financial Instruments continued
Page 87 and 88:
21 Financial Instruments continued
Page 89 and 90:
21 Financial Instruments continued
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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