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41173 CSEAR0809 Txt.Indd Glossary and abbreviations Table of contents Term Defi nition 2008/2009 in Review Scope and purpose of the Annual Report 2P Proven and probable gas reserves (50 per cent chance of being recovered) 3P Proven, probable and possible gas reserves (10 per cent chance of being recovered) Highlights 2008/2009 1 The Annual Report is written to provide information to A measure of a generator’s capacity to achieve full load. This measure takes into account CS Energy’s profi le 2 CS Energy Limited’s (CS Energy’s) stakeholders including Availability Ministerial shareholders, customers, community, partners, unions, both planned and forced outages Performance against measures 2008/2009 4 industry, employees, suppliers, special interest groups and the CO2CRC Cooperative Research Centre for Greenhouse Gas Technologies Chairman’s review 6 media. This is the twelfth annual report for CS Energy. Carbon Pollution Reduction Scheme, the emissions trading scheme proposed by the Chief Executive’s review 8 CPRS Australian Federal Government Corporate performance 10 The Annual Report is also available online at www.csenergy.com.au, or by contacting (07) 3222 9333. Energy sent out The amount of electricity sent to the grid 01 People Gearing A fi nancial term that describes the relationship between debt and equity Where you see this symbol further information is available on GEC Gas Electricity Certifi cate CS Energy’s people 16 CS Energy’s website www.csenergy.com.au. GW Gigawatt (One GW = one thousand megawatts) Learning and development 20 Feedback on this report is welcome and can be sent via email to GWh Gigawatt hour (one gigawatt generating for one hour) Health and safety 22 [email protected] or by mail to the Chief Executive, CS Energy Ltd, GPO Box 769, Queensland 4001. Greenhouse intensity per energy Emissions of CO2 per gigawatt hour of energy sent out 02 Portfolio sent out (tCO2e/GWh) ISO 14001 International Standard for Environment Management Systems Portfolio performance 28 A lost time injury is an occurrence that results in time lost from work of one shift or more, not Kogan Creek A Power Station 30 Lost time injury (LTI) including the shift in which the injury occurred Swanbank Power Station 31 The number of lost time injuries per million hours worked by employees and contractors Callide Power Station 32 Lost time injury frequency rate (LTIFR) (calculated on a 12 month moving average) Mica Creek Power Station 33 ML Megalitre (One ML = one million litres) Resources 34 MW Megawatt (One MW = one million watts) 03 Growth MWh Megawatt hour (one megawatt generating for one hour) NEM National Electricity Market CS Energy’s future 38 NEMMCO National Electricity Market Management Company Emerging technologies for future generations 39 Commercialising low-emission coal 39 PAT Profi t after tax Investigating integrated renewables 40 PEL Petroleum Exploration Licence Exploring offsets 40 PPA Power Purchase Agreement Researching new technologies 41 Pool price The variable market price for electricity Improving existing plant 41 REC Renewable Electricity Certifi cate Gas activities 42 A measure of a generator’s capacity to achieve full load when plant is not undergoing a Reliability planned outage 04 Social Licence ROPA Return on productive assets Earning trust 46 SAP Systems Applications and Products software Carbon and sustainability strategy 47 SCI Statement of Corporate Intent Environmental performance 50 Incidents which had a signifi cant impact on the environment or resulted in enforcement Signifi cant environmental incidents Community 53 action by a Regulator TJ Terajoule (one TJ = one million megajoules) Corporate Governance Report 57 Water use intensity Water use per gigawatt hour of energy sent out to the grid Directors’ profi les 64 Executive Management Team profi les 66 This report is printed using soy-based inks and a waterless press on Tudor RP paper stock. The text is 115gsm Tudor RP Financial Report 68 which is FSC 100% Recycled Certifi ed and Australian made. It contains 100% post-consumer recycled fi bre and no chlorine bleaching occurs in the recycling process. Australian Paper is ISO 14001 certifi ed. The cover is produced using FSC Mixed Index 120 sources 300gsm Tudor RP board, containing Australian made 30% elemental chlorine free bleached virgin fi bre. Sales of Tudor RP support Landcare Australia. Glossary Inside back cover On original printed copy only. Design Rinzen & 57 design + illustration Photography Nadine Shaw Photography Print Printpoint 441173_CSEARcover0809.indd1173_CSEARcover0809.indd 2 227/10/097/10/09 33:43:43 PPMM What drives CS Energy? CS Energy is a Queensland Government-owned electricity generator, providing about 30 per cent of the state’s electricity using a mix of coal, natural gas, coal seam methane and landfi ll gas. CS Energy is part of an industry-wide movement to tackle the major issues facing the energy sector today. As a major provider of electricity in Australia, CS Energy looks to do business smarter, cleaner and more effi ciently and to visibly report the progress towards the Company’s goals through this Annual Report in four key areas – People, Portfolio, Growth and Social Licence. Highlights 2008/2009 Generated 17,974 gigawatt hours of electricity and achieved electricity sales of $781 million page 11 Recorded a $93.8 million net profi t after tax, up $34 million from previous year page 10 Continued mid-life refi t of Callide B, and spent $153.6 million on overhauls across Swanbank, Callide and Mica Creek power stations page 28 Commenced site works for Callide Oxyfuel Project, a demonstration of carbon capture and storage on a commercial scale page 39 Implemented drug, alcohol and fatigue management at all sites page 24 Undertook the Company’s fi rst Corporate Social Responsibility Audit to benchmark its business practices and how it balances its social, environmental and economic goals page 53 Launched new Workplace Giving program, Generosity, and raised over $120,000 for charity page 55 Lost time injury frequency rate Total energy sent out (GWh) Profi t after tax ($000) 3.36 3.30 5 13,996 15,426 16,675 43,300 59,007 93.816 06/07 07/08 08/09 06/07 07/08 08/09 06/07 07/08 08/09 Employee numbers Reliability (%) Return on productive assets (%) 559 588 673 95.5 91.8 90.8 3.7 5.3 8.1 06/07 07/08 08/09 06/07 07/08 08/09 06/07 07/08 08/09 Staff turnover (%) Greenhouse intensity (tCO2e/GWhso) Qld average pool price ($/MWh) 9.7 12.8 7 829 834.4 845.5 52.14 52.34 34.02 06/07 07/08 08/09 06/07 07/08 08/09 06/07 07/08 08/09 Apprentices, trainees and graduates Signifi cant environmental incidents1 Gearing (%) 2 47 52 63 0 0 1 51.82 47.1 44.7 06/07 07/08 08/09 06/07 07/08 08/09 06/07 07/08 08/09 1 For more information see page 50 and for defi nition see Glossary, page 120. 2 For more information see note 12 of the Financial Statements on page 89. CS Energy Annual Report | Highlights 2008/2009 1 CS Energy’s profi le CS Energy is a Queensland • Kogan Creek Power Station, near Government-owned electricity Chinchilla in south west Queensland. generator with more than 670 CS Energy’s stakeholders employees, four power stations and a generating capacity of CS Energy has many stakeholders, which include all individuals and groups who 3,210 megawatts. are affected by, or who have an interest CS Energy supplies approximately 30 in, the Company’s operations. Through per cent of Queensland’s electricity the Company’s shareholding Ministers requirement, using a fuel mix of black CS Energy is ultimately responsible to the coal, natural gas, coal seam methane and people of Queensland, as well as: landfi ll gas. CS Energy operates a diverse • Current and future employees; portfolio of operating plant, able to supply • Contractors; base, intermediate and peak load, both on and off the national electricity grid. • Customers; The Company’s operating sites are: • The local communities in which it operates; • Swanbank Power Station, near • Unions; Ipswich in south east Queensland; • Suppliers; • Callide Power Station, near Biloela in • Special interest groups; central Queensland; • Relevant authorities; and • Mica Creek Power Station, near Mount Isa in north west Queensland; and • Current and prospective business partners. 2 CS Energy Annual Report | CS Energy’s profi le CS Energy Annual Report | CS Energy’s profi le 3 Performance against measures 2008/2009 Last year, the CS Energy Annual Report 2007/2008 introduced a new corporate scorecard, with four key measurement areas – People, Portfolio, Growth and Social Licence. Against these measures, specifi c goals and strategies provide a balance between enhancing current business operations and profi tability, and sustainable growth initiatives needed to take the Company into the future. 4 CS Energy Annual Report | Performance against measures 2008/2009 CS Energy Annual Report | Performance against measures 2008/2009 5 Chairman’s review CS Energy recorded a reasonable fi nancial result for 2008/2009, with a profi t of $93 million, which is 60% above the 2007/2008 result. However, the underlying operational performance of the Company was below expectation for the year. The Company’s core business areas of safety and plant reliability need signifi cant improvement and there are also major external challenges to be addressed in the near future. Looking forward, the Company will focus on improving its current operations and continue the development of new technologies that will reduce the environmental impact of its business. The Company’s safety performance has been of particular concern. A comprehensive review of the Company’s safety systems during the year revealed that CS Energy’s safety processes are robust and mature, yet the Company recorded its highest ever lost time injury result during 2008/2009, particularly in the performance of the Company’s key contractors.
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