LIVING OUR VALUES: ENERGEX 2009/10 Annual Report and Financial Statements

186 Pages·2010·4.6 MB·English

We aim to live our corporate values every day. Our values express who we are and all that
They underpin everything we do as a company we aspire to be. They are the foundation
and articulate what we see as most important. for our reputation and success.
PUT DELIVER IMPRESS
SAFETY BALANCED OUR
FIRST RESULTS CUSTOMERS
We are committed We are passionate and disciplined Servicing our customers
to achieving an about achieving our targets to ensure a
injury free workplace to deliver sustainable performance positive experience
RESPECT BE SET
& SUPPORT A TEAM A GREAT
EACH OTHER PLAYER EXAMPLE
We value each We operate as a team We create an environment
other’s views to achieve and leverage and learn that encourages people to grow,
success together from each other achieve goals and lead the way
Powering Lifestyles Forever – articulates our vision, our people and technical capabilities to deliver network
reinforces our strategic direction and provides performance that achieves legislated Minimum Service
a reference to guide both strategic planning and Standards (MSS), Guaranteed Service Levels (GSLs),
day-to-day business operations. The purpose supports and associated network standards.
our transition to becoming a customer-centric and
Linked with this goal is a focus on ‘lifestyles’ which
sustainable business that delivers sustainable energy
refl ects our growing need to understand the changing
solutions and balanced commercial outcomes.
lifestyle, business and economic preferences of our
Our purpose represents the three core areas upon customers and the implications this has for the way
which we must focus to deliver our vision. A focus on in which we deliver power. From a forward or ‘forever’
‘powering’ describes the core network that we own perspective, we must produce results that ensure the
and operate, and the need for the corporation to use future sustainability of our network and corporation.
By 2015 we will transform ENERGEX into a customer- We will support our customers’ 21st century lifestyle
centric organisation providing sustainable energy aspirations and partner with the community to
solutions. Our skilled and capable people will see us build sustainable economic growth in South East
as an employer of choice as we create new customer Queensland. In alignment with our shareholders we
solutions and opportunities. will be a safe, effi cient, environmentally sustainable
and commercial organisation.
ENERGEX ANNUAL REPORT 2009/10
ABOuT
this report
At ENERGEX, effective stakeholder The aim of this report is to provide accurate and relevant information
communications and reporting are to meet the needs of our stakeholders, who include but are not limited to:
key components to our corporate
social responsibility position. ■ shareholding Ministers and Government
We aim for continual improvement ■ customers and community
through accountability, transparency ■ employees and employee unions
and relevance of information. ■ electricity retailers
The ENERGEX Annual Report ■ electricity transmission companies
(this report) provides a review ■ electricity generators
of our operational and fnancial ■ regulators
performance during the 2009/10
fnancial year against our strategies, ■ suppliers.
objectives and targets as detailed in For further information on our stakeholder engagement processes please refer
our Statement of Corporate Intent to page 71.
(SCI) (pages 10-13). It demonstrates
that we are building and maintaining The theme of this report is ‘Living Our Values’. It refects how we use our values
a robust and sustainable business in everyday activities to achieve our strategic objectives and vision. A particular
to service the energy needs of South example used throughout this report, and photographed on the outside cover,
East Queensland, and how we plan is our new headquarters in Newstead, Brisbane. Relocations will take place
to continue this into the future. in late 2010 (page 95). To assist in communicating how we live our values, the
operational review is categorised according to these values, with each section
including a case study.
Sustainability is an important issue which we believe warrants extensive
coverage across the key aspects of our business. We have developed the
ENERGEX Sustainability Report which can be accessed on our website
www.energex.com.au. To avoid duplication, detailed information regarding
sustainability across the key areas is included in our Sustainability Report.
This report has been designed to complement the Sustainability Report which
follows the Global Reporting Initiative (GRI).
To assist in reading this report, we have included a glossary of terms and
index (pages 107-109). This report also includes our corporate governance
framework (pages 29-31) – the systems by which the organisation is directed
and managed – as well as our risk management processes (pages 26-27).
We welcome your comments as they will assist us in improving future
communication with our stakeholders. Feedback can be provided via
contents
Our profi le 3 Living our values – our operational review CONTENTS
Put safety first 38
Highlights and challenges 6
Our number one corporate value. An overview of our
approach and activities to ensure the health, safety
Financial highlights 8
and wellbeing of our employees and the community.
Statement of Corporate Intent highlights 10 Deliver balanced results 46
Our performance against our corporate key result areas, How we met electricity demand in South East
objectives and targets. Queensland in a way that achieved a balance between
providing a service, and environmental and social
Chairman’s report 14 considerations. It also includes an overview of reliability
and capacity of our network for 2009/10, and our
Our Chairman refl ects on the business achievements
preparation for and response to the summer period.
of 2009/10 and our progress over the past decade.
Impress our customers 62
Board of Directors' profi les 16 Refl ects on our role with customers and the community,
An overview of our Board members. and how we maintain our relationships through effective
communication and support.
Corporate governance 20
Respect and support each other
Our strategies, performance and reporting of the various
processes that govern our organisation’s direction. Be a team player 78
Included is our corporate governance framework The strong team values held and demonstrated every
and organisational structure. day by our people are what being an ‘employer of choice’
is all about. Included are our workplace initiatives, staff
Chief Executive Offi cer’s report 32 performance and staff development.
Our CEO refl ects on how we are working Set a great example 90
for the South East Queensland community.
Through our environmental initiatives, and research and
development programs, we aim to not only lead the way
Executive team 34 in the electricity industry, but also set a great example
The executive team behind ENERGEX for the community and other businesses.
and their key responsibilities.
Additional corporate reporting 104
Includes our fi nancial fi ve-year summary, ministerial
directions and notifi cations and our travel and
hospitality expenses.
Glossary and abbreviations 107
Index 109
Cover photos –
Pictured: Trees from our Safetree campaign encourages safe planting around powerlines; a workforce committed to teamwork
allows us to complete projects safely and effi ciently; our new corporate offi ce aims to signifi cantly reduce our carbon footprint.
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ENERGEX ANNUAL REPORT 2009/10
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ENERGEX ANNUAL REPORT 2009/10
our profi le
Who we are OUR PROFILE
ENERGEX provides network services and infrastructure to distribute electricity
into the homes and businesses of 2.9 million people in South East Queensland.
We are a Queensland Government Owned Corporation Diagram 1: The ENERGEX network
(GOC) with two shareholding Ministers, The Honourable
Andrew Fraser MP, Treasurer and Minister for
Employment and Economic Development; and The
Honourable Stephen Robertson MP, Minister for Natural
Resources, Mines and Energy and Minister for Trade.
For further information on our corporate governance
and business structure refer to pages 29-31.
At the core of the business are high performing
distribution assets worth more than $8.8 billion, the
expertise of more than 3,800 employees and a drive Gympie
to provide customers with energy solutions that are
economically, socially and environmentally acceptable
and sustainable. This is underpinned by technological Noosa
innovation and advanced management systems which
drive effi ciency, quality and safety. Many of these are
nationally or internationally certifi ed or benchmarked to Nambour
Maroochydore
international standards. We also place sustainability and
corporate responsibility high on our corporate agenda Caloundra
through progressive environmental and social practices.
Our distribution area of 25,000 square kilometres Kilcoy Woodford
stretches to Gympie in the north, Gatton in the west and
Toogoolawah Caboolture
Coolangatta on the New South Wales border. It includes
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would stretch more than three times the distance from
Brisbane to London. Fernvale
BRISBANE
Our underground network has continued to rise to meet Gatton
the needs of South East Queenslanders with an average Ipswich
of seven kilometres of new underground cables being Beenleigh
installed into the network for every kilometre of overhead
powerline. Underground cables now total more than
16,500 kilometres. Our network also includes more
than 600,000 power poles, some 43,000 transformers Boonah Beaudesert PaSruardfeisres
and almost 300,000 street lights.
Pictured: Put simply, our employees are ENERGEX.
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ENERGEX ANNUAL REPORT 2009/10
Our network
The electricity supply industry in which ENERGEX operates is organised
like links in a chain which connect the separate elements of generation,
OUR PROFILE transmission, distribution and retail.
Diagram 2: Electricity Industry Supply Network
GENERATION TRANSMISSION DISTRIBUTION RETAIL CUSTOMERS
Bulk supply Zone
substations Substations
Electricity Electricity Electricity
generator transmission retailers
Powerlines Distribution CUSTOMER
Various Powerlink and cables substations
power stations Qld
Transformers
Distributed
generation
GENERATION – Generators produce electricity and RETAIL – Electricity retailers sell and manage customer
compete to sell it in the National Electricity Market. accounts and billing. This part of the ENERGEX business
As electricity cannot be stored or branded to distinguish was sold by the Queensland Government in 2007
its generator, all electricity is centrally pooled and to Origin and AGL. Full retail competition was later
scheduled to meet demand. This pool is managed introduced in Queensland allowing all customers to
by the Australian Energy Market Operator (AEMO). choose their retailer. We aim to maintain ongoing effective
relationships with the retailers to assist with the delivery
TRANSMISSION – Electricity is supplied to ENERGEX
of electricity to the customer.
through a high-voltage transmission network that
is owned and operated by the Queensland Electricity CUSTOMERS – As the electricity distributor, we are
Transmission Corporation Limited (trading as Powerlink primarily responsible for building and maintaining
Queensland), another GOC. the electricity network and delivering a safe and
reliable electricity supply to the South East Queensland
DISTRIBUTION – We own and operate the electricity community. We are also responsible for meter readings
distribution network in South East Queensland. and connecting homes and businesses to the electricity
We convert electricity from the transmission network network when requested by retailers on behalf of
into high and low voltages and deliver it to businesses their customers.
and homes.
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ENERGEX ANNUAL REPORT 2009/10