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

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01 Our organisation OUR PLAns AND PRIORITIes Endeavour Energy took account of a wide range of issues impacting our operations, in developing our 2010–11 Corporate Plan in line with a clear, continued focus on meeting relevant government policies and fulfilling our obligations as a State Owned Corporation (SOC). These priorities and obligations are reflected in the key initiatives that have been highlighted in the Plan and the key measures and targets specified in Endeavour Energy’s Balanced Scorecard for 2010–11. Endeavour Energy 2010–11 Balanced Scorecard (as at 30 June 2011) Key result areas Measures Target 2010–11 Actual 2010–11 SAFETY Safe, capable, Lost Time Incidents (LTI) – pathway to zero 12 24 a motivated employees Reportable incidents – internal SENI 11 22 Total recordable injuries (TRI) 130 135 b CUSTOMER / COMMUNITY Valued by our community Customer satisfaction 82% 79% Improve cost to serve ($/cust) $436/cust. $417/cust. Protect public safety Reportable incidents controlled – environmental 1 1 and environment Reportable incidents – external SENI 32 21 Reliable and sustainable network Network reliability – unplanned SAIDI mins 87 mins 72 mins FINANCIAL Financial sustainability NPAT – Net Profit After Tax inc. Capital Contributions $200m $245m EBITDA – Inc. Capital Contributions $660m $712m Effective investment CAPEX budget $518m $496m Efficient operations OPEX budget $433m $407m Overtime expenditure – planned $17.0m $17.3m BUSINESS PROCESS Network Plan delivery % of SAMP milestones met/complete 95.0% 97.1% Governance, risk and compliance management CULTURE Safe, capable, motivated employees No. of audit recommendations overdue (≥ 90 days) each quarter 0 0 Absenteeism 3.1% 3.3% Compliance to Workforce Plan 97% 98% a b As at 30 June 2011, 23 LTIs had been recorded; one additional lost time shift occurred during July that related to a 2010–11 incident taking the total to 24 As at 30 June 2011, 134 TRIs had been recorded; one additional reportable incident occurred after a late reporting in August 2011 taking the total to 135 6
Endeavour Energy’s six strategic objectives identify those areas that will lead to significant transformational changes in our business in the areas of safety, customer service and efficiency. These strategic objectives and related breakthrough actions are outlined in our Corporate Plan Summary 2010–11. Over the past year, we made excellent progress against these objectives, which has placed the organisation in a strong position to respond to ongoing electricity affordability concerns in the community. By managing costs and maintaining high levels of efficiency, we have reduced our operating costs, without compromising the safety of our employees, contractors and the public. Corporate Plan Summary 2010–2011 Strategic objective Breakthrough action Why we need to do this Improve our safety performance Deliver our network plan Improve customer value Leverage technology Manage business risk Deliver performance through people Implement our Lifeguard program Accelerate implementation of the Strategic Asset Management Plan (SAMP) by delivering $518 million in capital investment Set a course for a sub-70-minute SAIDI Implement rapid response teams for our network Introduce the iSAFE vehicle system to Endeavour Energy’s road fleet Strengthen our controls to guard against the risk of bushfires Negotiate a new Enterprise Agreement Integrate refreshed values and new leadership competencies into the way we recruit, develop and promote our leaders To reduce the risk of accidents caused by fatigue or drug and alcohol abuse. So we can continue to provide a safe and reliable network. So that we continue to push the boundaries in improving the reliability outcomes we are able to deliver to our customers. To eliminate the risks associated with fatigue, safely reduce the duration of incidents that affect our customers and improve efficiency. It’s a key component of our response to the recent Country Energy coronial inquiry and will improve our customer responses times and fleet productivity. Recent major bushfires in Victoria and Western Australia have highlighted the risks we and our communities are facing and we need to learn from these events. Reaching agreement with employees and unions on a new Enterprise Agreement will deliver benefits for employees and customers in line with the NSW Government’s Wages Policy. Having effective leadership that’s aligned with our purpose and values will strengthen our culture, support our employees and deliver our plan. Endeavour Energy Annual Performance Report 2010–11 7
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: To that end, we pursued our second
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:
2 Statement of Significant Accounti
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Page 63 and 64:
Page 65 and 66:
4 Expenses 2011 $’000 2010 $’00
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5 Gain/(loss) on sale of Retail bus
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7 Deferred Tax (Assets)/Liabilities
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8 Cash Flow Information continued (
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9 Trade and Other Receivables conti
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12 property Plant and Equipment con
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13 Intangible Assets Software $’0
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14 Employee Benefits - Superannuati
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16 Other Current Liabilities 2011 $
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21 Financial Instruments continued
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23 Expenditure Commitments continue
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27 prudential Requirements An unsec
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Appendices Contents Five-year stati
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Australian Financial Services Licen
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Executive Remuneration General prin
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Table A: Number of applications by
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Implementation of Price Determinati
Page 105 and 106:
GLossARY The Australian Consumer La
Page 107:
Ausgrid LOCATIONS and contacts Kand
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