Statement of Business Ethics - Essential Energy
Statement of Business Ethics - Essential Energy Statement of Business Ethics - Essential Energy
ABOUT US Essential Energy operates and maintains an electricity network that delivers essential network services to homes and businesses across 95 per cent of NSW and parts of Southern Queensland. Essential Energy also provides water and sewerage services through its operating division, Essential Water, to more than 10,000 homes and businesses in Far West NSW. Networks NSW Ausgrid, Endeavour Energy and Essential Energy are New South Wales State Owned Corporations that, at times, conduct procurement activities under the joint venture of Networks NSW – capitalising on the combined buying power of the three corporations and enhancing cost and operational efficiencies for NSW electricity customers. As such, this Statement of Business Ethics applies to any activity undertaken by the Networks NSW joint venture and by each individual organisation. Combined, the three corporations are responsible for the safe, efficient, and prudent management of Australia’s largest electricity distribution network – delivering essential electricity services to homes and businesses across NSW; and water and sewerage services to more than 10,000 homes and businesses in Far West NSW. This involves the maintenance and operation of more than 280,000 kilometres of powerlines and 190,000 substations across 809,444 square kilometres. Networks NSW manage a significant investment program that in the 2010-2011 financial year, saw a total expenditure of $2.6 billion on third party goods and services. Importantly, we are committed to containing network electricity price increases to the Consumer Price Index for our customers for the next six years and seek to engage suppliers that offer competitive products and services while maintaining ethical business operations. Procurement decisions are based on guiding principles that ensure we continue to deliver value for money solutions and remain accountable to our customers and shareholders. These principles are further explained in the Guiding Principles section of this Statement of Business Ethics. OUR CODE OF CONDUCT Our employees are expected to abide by our Code of Conduct. Our Code of Conduct booklet is available at essentialenergy.com.au CODE OF CONDUCT 4 | ESSENTIAL ENERGY STATEMENT OF BUSINESS ETHICS
OUR VALUES Essential Energy employees 1 are required to understand and support our corporate values. These five values and their associated behaviours are the basis for everything we do. We expect that our business partners, suppliers and contractors will act according to these same values. Safety excellence > > Put safety as your number one priority > > Do not participate in unsafe acts, and challenge unsafe behaviours > > Think before you act > > Lead by example > > Take responsibility for the health and safety of yourself and others Respect for people > > Treat all people with respect, dignity, fairness and equity > > Demonstrate co-operation, trust and support in the workplace > > Practise open, two-way communication Customer and community focus > > Deliver value and reliable service to our customers and communities > > Use resources responsibly and efficiently > > Be environmentally and socially responsible Continuous improvement > > Look for safer and better ways to do your job > > Improve our financial performance > > Support innovation to add value to our business Act with integrity > > Act honestly and ethically in everything you do > > Be accountable and own your actions > > Follow the rules and speak up. 1 Employees are defined as permanent employees (full time or part time) and any other person undertaking work in Essential Energy, including contractors and their agents or employees. ESSENTIAL ENERGY STATEMENT OF BUSINESS ETHICS | 5
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- Page 3: Foreword Essential Energy values it
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OUR VALUES<br />
<strong>Essential</strong> <strong>Energy</strong> employees 1<br />
are required to understand and support our<br />
corporate values. These five values and their associated behaviours are the<br />
basis for everything we do. We expect that our business partners, suppliers<br />
and contractors will act according to these same values.<br />
Safety excellence<br />
> > Put safety as your number one priority<br />
> > Do not participate in unsafe acts, and<br />
challenge unsafe behaviours<br />
> > Think before you act<br />
> > Lead by example<br />
> > Take responsibility for the health and<br />
safety <strong>of</strong> yourself and others<br />
Respect for people<br />
> > Treat all people with respect, dignity, fairness<br />
and equity<br />
> > Demonstrate co-operation, trust and support<br />
in the workplace<br />
> > Practise open, two-way communication<br />
Customer and community focus<br />
> > Deliver value and reliable service to<br />
our customers and communities<br />
> > Use resources responsibly and efficiently<br />
> > Be environmentally and socially responsible<br />
Continuous improvement<br />
> > Look for safer and better ways to do your job<br />
> > Improve our financial performance<br />
> > Support innovation to add value to our business<br />
Act with integrity<br />
> > Act honestly and ethically in everything you do<br />
> > Be accountable and own your actions<br />
> > Follow the rules and speak up.<br />
1<br />
Employees are defined as permanent employees (full time or part time) and any other person<br />
undertaking work in <strong>Essential</strong> <strong>Energy</strong>, including contractors and their agents or employees.<br />
ESSENTIAL ENERGY STATEMENT OF BUSINESS ETHICS | 5
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