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

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09 Financial statements Notes to the Financial Statements For the year ended 30 June 2011 24 Events After the Balance Sheet Date There has not arisen, in the interval between the end of the financial period and the date of this statement, an event of a material and unusual nature likely, in the opinion of the Directors of the Corporation, to affect significantly the operations of the economic entity, the results of those operations, or the state of affairs of the economic entity, in subsequent financial years. 25 Auditor’s Remuneration 2011 $’000 2010 $’000 Amounts received or due and receivable by the Auditor-General for: – Auditing the Financial Statements 367 318 – Australian Financial Services Licence audit 8 8 Total auditor’s remuneration 375 326 26 Key Management Personnel (a) Directors’ Appointments New Appointments Ron Quill (appointed 21 December 2010) Re-appointment Michael McLeod (re-appointed 1 September 2010) Terry Downing (re-appointed 1 September 2010) Paul Sinclair (re-appointed 16 October 2010) Penny Le Couteur (re-appointed 31 May 2011) Continuing Directors John Fahey Vince Graham (Chief Executive Officer – Executive Director) (b) Key Management Personnel Remuneration Short-term employee benefits $’000 Post employment benefits $’000 Other long-term benefits* $’000 Termination benefits $’000 Total $’000 Executive 3,227 214 537 43 4,021 Directors 426 38 – – 464 2011 Total remuneration 3,653 252 537 43 4,485 Executive 3,073 203 – – 3,276 Directors 395 36 – – 431 2010 Total remuneration 3,468 239 – – 3,707 * Other long-term benefit payments relate to the payout of pre-93 sick leave. 90
27 prudential Requirements An unsecured Bank Guarantee of $0.7m (2010: $223.4m) is given to the Australian Energy Market Operator Limited (AEMO) by way of a New South Wales Treasury Corporation guarantee. The guarantee is required to meet the National Electricity Market’s maximum credit limit and prudential margin for retained customers who have not been able to be novated to Origin Energy as part of the sale of the Retail business. As part of the obligations under the Retail Sale Agreement with respect to the provision of prudential support to the operator of the National Electricity Market, Endeavour Energy has the obligation to obtain the bank guarantee, however Origin Energy has provided Endeavour Energy with back-to-back guarantees in relation to same. 28 related Party Transactions Directors The name of each person who held or is holding the position of director of Endeavour Energy during the financial period is set out in Note 26 on page 90. Details of directors’ remuneration is set out on page 90. There were no director related party transactions for the 2010/11 financial year. End of audited Financial Statements Endeavour Energy Annual Performance Report 2010–11 91
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ANNUAL PERFORMANCE REPORT 2010-11 I
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Contents LETTER TO SHAREHOLDING MIN
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YeAR at a Glance Items 2009-10 2010
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To that end, we pursued our second
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Endeavour Energy’s six strategic
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Performance indicator: lost time in
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Performance indicator: Capital expe
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Efficiency reviews to reduce costs
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Each year we investigate bushfire r
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STRATEGIC OBJECTIVE 6 - DELIVER PER
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Network Strategy Network business o
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Major works in progress 2010-11 con
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Major works in progress 2010-11 con
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The NSW Code of Practice - Demand M
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Network-related calls increased fro
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New apprentices vital to our workfo
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Equal employment opportunity As par
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Multicultural policies and services
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06 8 % reduction in greenhouse emis
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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 91: 23 Expenditure Commitments continue
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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