DOCSLIB.ORG

Business Plan 2023-2028 Welcome to Our Plan Click Any Title Or Subtitle to Jump Directly to That Section

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Business Plan 2023-2028 Welcome to Our Plan Click Any Title Or Subtitle to Jump Directly to That Section Business plan 2023-2028 Welcome to our plan Click any title or subtitle to jump directly to that section. Our plan for a greener, more prosperous and more connected North West 4 Section 1: Welcome to our draft plan 6 1.1 A few words from our Chair 6 1.2 A few words from our CEO 7 1.3 How to navigate this plan 8 1.4 Updates to this document since our early draft consultation in April 8 Section 2: A summary of our plan 12 2.1 A network that’s fit for the future 12 2.2 Supporting community and local energy projects 13 2.3 Making sure no one is left behind 13 2.4 Improving customer service 14 2.5 Balancing bills with ambition 14 2.6 Financing 15 2.7 A summary of all our proposed outputs from the plan 15 Section 3: Why you can be sure we’ll deliver 21 3.1 Keeping our commitments 21 3.2 Delivering social obligations and customer service 22 3.3 Delivering reliability 24 3.4 Delivering on the environment 24 3.5 Delivering new connections 25 3.6 Innovation and continuous improvement 25 3.7 Being efficient and investing in the future 25 3.8 Our people 26 Front cover image: ©Science Museum Group/Drew Forsyth Section 4: Giving customers and Section 8: Activities to deliver stakeholders a stronger voice 32 customer outcomes 155 4.1 Setting up for success 33 8.1 Engaging with customers and 4.2 Our six-stage process 34 managing network activities 155 4.3 Our engagement methods 37 8.2 Maintaining and repairing the network 162 4.4 Why you can trust our robust and 8.3 Investing in the network 163 high-quality engagement 49 8.4 Running an efficient company 170 4.5 How feedback shaped the plan 51 8.5 Performing our other business 4.6 Building on our engagement for E D 2 59 functions 171 Section 5: What we’ll deliver based Section 9: Overall expenditure on what you’ve told us 61 forecasts 174 5.1 Meeting the needs of customers and 9.1 Summary cost breakdown 174 network users 61 9.2 Engaging with customers and managing 5.2 Maintaining a safe and resilient network 72 network activities 176 5.3 Delivering an environmentally 9.3 Maintaining and repairing the network 179 sustainable network 89 9.4 Investing in the network 179 5.4 Diversity and inclusion 100 9.5 Running an efficient company 188 5.5 Consumer Value Proposition 101 9.6 Significant projects 188 Section 6: How we’ll enable Section 10: Regulatory detail 192 delivery 103 10.1 How we’ll deal with uncertainties 192 6.1 Enabling our customers and 10.2 Output mechanisms 197 stakeholders 103 6.2 Enabling our people and business 121 Glossary Section 7: Keeping bills low and financeability 135 7.1 The impact of our plan on bills 135 7.2 Running an efficient business 136 7.3 How we’ll deal with uncertainties 139 7.4 The role of finance 140 Our plan for a greener, more prosperous and more connected North West We know from speaking with thousands of our customers and stakeholders to develop this plan, that lots of different people are interested in what it says. Having engaged through a transparent process shaped by customer and stakeholder input for the past two years, there shouldn’t be any surprises. Ultimately, it’s our job to find the right balance between ambition, service delivery and ensuring it’s affordable for everyone. We’ve written this plan for customers and stakeholders, and it’s designed to AA accessibility standards1. So whether you’ve been involved in our engagement yet or not, we hope you find the right level of detail, explained clearly and simply, so you can continue to share your views with us. This is our draft plan and we will submit a final version of our plan to Ofgem on 1 December 2021. 1 https://www.w3.org/WAI/WCAG2AA-Conformance In section 1 1.1 A few words from our Chair 6 1.2 A few words from our CEO 7 Welcome to 1.3 How to navigate this plan 8 our draft plan 1.4 Updates to this document since our early draft consultation in April 8 Jump to contents: this section document Section 1: Welcome to our draft plan 1.1 A few words from our Chair I am excited about this plan. This is an ambitious plan built from extensive high quality and robust engagement that as a board we have seen first‑hand. Despite the huge disruption to both home and work life caused by Covid-19, engagement to develop this plan never stopped. I am thankful to the thousands of customers and stakeholders who took part for their continued and enthusiastic involvement. This is a critical plan at a critical time for the region and country in terms of delivering on the Net Zero promises made by government and local political leaders in the North West. The plan also contains bold commitments on customer service, reliability and environmental issues. While we need to ensure the network is ready for the 1 million electric vehicles expected on the region’s roads by 2028, we also recognise the need to support those in vulnerable circumstances who are more reliant on electricity than ever. At the same time we need to use expertise to deliver technical solutions such as distribution system operation and flexibility. All while keeping bills low. The attention to detail in understanding the views of customers and stakeholders to develop a plan that balances the many competing needs of a whole region is no small achievement. Delivering that plan for ‘less than the cost of a cup of coffee’ – as one of our deliberative panel members put it – shows real determination, ambition and sound management of the process, outputs and, crucially, financing. This ambitious plan is thoroughly evidenced by customer and stakeholder support. It is not constrained by lack of ambition or lack of outputs. If it is constrained by anything it is constrained simply by what is practical and economically viable to deliver in the five-year window of the plan. Delivering a plan of this magnitude, meeting the needs of the region up to 2028, for such a low increase in bills is a significant achievement and I look forward to seeing it delivered on behalf of the North West’s customers, consumers and stakeholders. For more information, see our interim board assurance statement1. Alistair Buchanan CBE Chair Electricity North West 1. https://www.enwl.co.uk/globalassets/about-us/regulatory-information/ riio2/july-2021-submission/interim-board-statement/interim-board- statement-july-2021.pdf 6 Jump to contents: this section document 1. Welcome to our draft plan to Welcome 1. 1.2 A few words from our CEO Welcome to this latest draft of our business plan which is as close to final as possible at this stage. Publishing an early draft of this plan in April was a new and important step for us and as one of only two network operators to take this early step, we have benefited from thorough scrutiny from our customers, stakeholders and our independent Customer Engagement Group. As a result of our early draft consultation we have increased the ambition on five areas of the plan, which you can read about in section 1.4. The plan has been informed by more than 22,000 interactions with more than 18,000 customers, consumers and stakeholders to date, including 281 individual stakeholder organisations – by far the largest and most far-reaching consultation exercise we have ever carried out. Our proposals are detailed and offer an exciting and ambitious vision for our region. Our customers and stakeholders clearly value the excellent services we currently deliver and want us to do more – a lot more. The challenge of delivering stretching environmental ambitions on Net Zero while keeping bills low and making sure we don’t leave anyone behind is tough. You’ll see how we have made these trade-offs based on feedback in section 4.5. Our research has shown that 80% of customers are willing to pay an additional £9.80 to achieve the ambitious proposals in this plan. However, through innovation and efficiencies we believe that we can deliver a high level of investment in the network for just a £2.03 per year addition to an average household bill – a price 97% of our customers are willing to pay. You can read more on how we’re keeping customers’ bills as low as possible in section 7. Here we also set out how we can also ensure that our business is sustainable and set on a firm financial footing to ensure we can attract the big investment required to meet the big ambitions of our customers and stakeholders. There is still time for you to share your thoughts with us before our final submission to Ofgem on 1 December 2021, so please see our separate consultation document and do comment on any part of the plan that you wish. We take all feedback on board and work transparently to show how we use it to improve our plans together for everyone. Peter Emery Chief Executive Officer Electricity North West 7 Jump to contents: this section document 1.3 How to navigate this plan We don’t expect everyone to have the time to read the entire plan in detail, but we suggest you start with our summary in section 2 to give you an overview of key areas.
Load more

Recommended publications
  • A Practical Guide to Writing a Business Plan
    A PRACTICAL GUIDE TO WRITING A BUSINESS PLAN Louisiana Small Business Development Center At Southeastern Louisiana University 1514 Martens Drive – Hammond, LA 70401 Phone: (985) 549-3831 Fax: (985) 549-2127 Email: [email protected] Email: [email protected] Website: www.lsbdc.org Website: www.selu.edu/sbdc Funded in part through a cooperative agreement with the US Small Business Administration. All opinions, conclusions or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA. Louisiana Small Business Development Center at Southeastern Louisiana University © William Joubert, May 1992 What is a business plan? A business plan is a document that describes all aspects of the business venture in which you are currently involved or want to establish. It is very much like a proposal. There are literally hundreds of different business plan outlines and formats that one could use. The right on will depend on your style of writing, the industry you operate in or what you are trying to accomplish with the business plan. The business plan outline that follows is a generic one that you can customize to your needs. Who requires a business plan? Bankers Investors Business Partners Venture Capital Investors Why should I write a business plan? Provides a road map Assists in obtaining financing Raises questions that need to be addressed Establishes benchmarks to keep your business under control Helps identify your revenue and cost items Forces you to think through the business process Forces you to develop a sound marketing strategy Helps you develop pro-forma financial statements Helps you make the “Go or No-Go” decision How long does it take? Some business ventures can take years to plan, but for a small retail or service business, 3 to 9 months is average.
    [Show full text]
  • Get Started with a Well Structured Business Plan? Why Not. Publication Details Author: CREDIT SUISSE (Switzerland) Ltd
    Get started with a well structured business plan? Why not. Publication details Author: CREDIT SUISSE (Switzerland) Ltd. P.O. Box 8070 Zurich credit-suisse.com/corporates 2019 edition 2/52 Content Foreword 4 1. Introduction 1.1 What is a business plan? 7 1.2 Why do you need a business plan? 8 1.3 Structure and form of a business plan 9 2. Format and contents of the business plan 2.1 Management summary 13 2.2 Company and corporate strategy 14 2.3 Products/services 18 2.4 Market/customers 20 2.5 Competition 24 2.6 Marketing 26 2.7 Production/delivery/procurement 28 2.8 Research and development 30 2.9 Location/administration 32 2.10 Information and communication technology (ICT) 34 2.11 Management/management tools/organization 36 2.12 Risk analysis 42 2.13 Finances 44 List of graphics 49 Checklist 51 Get started with a well structured business plan? Why not. 3/52 Foreword 4/52 The economic environment is now more challenging than ever. The removal of trade barri- investors and lenders to make a quick and in-depth assessment of the business venture. ers, the relocation of pro- So it is hardly surprising that the business plan duction operations to low- is a central planning document for management. Preparing such a business plan and determining wage countries, and the future shape of the company helps you carry structural changes are just out your business idea and lays the foundation for your business success. some of the developments that are proceeding at an This guide shows what a business plan is, what purpose it serves, how it is structured, and how ever faster pace and posing to go about preparing your own business plan.
    [Show full text]
  • Project Management for Mergers & Acquisitions
    Fachhochschule Ingolstadt University of Applied Sciences Arbeitsberichte Working Papers Project Management for Mergers & Acquisitions by Kai Lucks Heft Nr. 1 aus der Reihe "Arbeitsberichte - Working Papers" ISSN 1612-6483 Ingolstadt, im Oktober 2003 Abstract The article covers the “end to end” management of M&A projects for strategic buyers with special focus on business integration and business reengineering, beginning with the strategic “case definition” and ending with the finalization of the integration. Different characters of work, change of responsibilities and external factors inhibiting a continuous flow of work imply to break down the overall project into “partial projects”. Typical working steps and how the steps and partial projects are in terlinked describe the overall task. Practical approaches for integral project management and their tools, complementing on drawbacks and general rules round up this overview. Project Management for Mergers & Acquisitions By Kai Lucks 1. Summary and definitions M&A projects involves all activities related to corporate mergers, the acquisition of companies or divisions and the transfer of business activities of several parent companies to a new unit (joint venture) that is owned jointly by the parent firms (see Figure 1). Merger Acquisition Joint Venture Owner A Owner B Owner A Owner B Owner A Owner B ex ex ex Comp. ex Comp. Comp. Comp. Div. Div. Div. Div. A B 1 2 1 2 3 4 Acquisition of a Transfer of business Combination of company or activities from two or more companies resulting in company shares mother companies into a one companies‘ loss of (majority or minority) newly founded company legal independence jointly owned by the mother companies Fig.
    [Show full text]
  • Business Plan Template
    Institute of Certified Bookkeepers Business Plan Template 2014 Preparing your Business plan Executive Summary .................................................................................................................. 2 The Objective ........................................................................................................................... 2 Keys to success ........................................................................................................................ 3 The Mission .............................................................................................................................. 3 Business Summary ................................................................................................................... 3 Start up phase .......................................................................................................................... 4 Business Location and equipment ............................................................................................ 4 Services .................................................................................................................................... 5 Competition Comparison .......................................................................................................... 5 Marketing collateral................................................................................................................... 6 Technology ..............................................................................................................................
    [Show full text]
  • The Elements of a Business Plan: First Steps for New Entrepreneurs
    PURDUE EXTENSION EC-735 The Elements of a Business Plan: First Steps for New Entrepreneurs Cole Ehmke and Jay Akridge Department of Agricultural Economics By organizing your thoughts on a possible business venture into a business plan, you begin the process of creating a Audience: Entrepreneurs planning a new venture successful enterprise. This publication addresses common questions about business plans and then discusses what is Content: Outlines the basics of a business plan included in the major sections of a business plan. At the end, Outcome: Readers will understand the purpose of it also describes a number of common errors made when and elements required to write a business plan developing a business plan. for a new venture What Is in a Business Plan? Operating plan—How do you plan to implement your idea? The business plan covers what you intend to do with your business and how it will be done. The process of writing down Financial plan—How much money will it cost, and where what is involved in bringing your idea to reality requires will you get the necessary funds? dealing with the why, what, who, how, where, when, and how Executive summary—What are the fundamentals of the much of your venture. Writing a business plan forces you to venture? take a deep look at your idea and how you will turn it into a business. Doing so helps you recognize areas that need This publication discusses each of these elements after rethinking or support. Your business plan will typically answering some common questions about business plans.
    [Show full text]
  • Perspectives on Merger Integration.Indd
    June 2010 Perspectives on merger integration Table of contents 5 A new generation of M&A: A McKinsey perspective on the opportunities and challenges Despite continued uncertainty, signs point to a surge in M&A activity that will be ambitious in both scope and profi le. 11 Beyond risk avoidance: A McKinsey perspective on creating trans- formational value from mergers Most mergers are doomed from the beginning. Anyone who has researched merger success rates knows that roughly 70 percent of mergers fail. 19 Opening the aperture 1: A McKinsey perspective on value creation and synergies Almost 50 percent of the time, due diligence conducted before a merger fails to provide an adequate roadmap to capturing synergies and creating value. 25 Opening the aperture 2: A practical guide to capturing synergies and creating value in mergers Most companies contemplate mergers with great ambitions, but their vision quickly narrows to cost. 31 Next-generation integration management offi ce: A McKinsey perspective on organizing integrations to create value Mergers offer tremendous opportunity to create and sustain breakthrough value, especially for companies that get three mutually reinforcing attributes right... 35 Integrating sales operations in a merger: A McKinsey perspective on four essential steps Make no mistake: mergers are challenging. But they can provide organizations with transforma- tive possibilities. 41 Assessing cultural compatibility: A McKinsey perspective on getting practical about culture in M&A Executives know instinctively that corporate culture matters in capturing value from M&A. 49 Opening the aperture 3: A McKinsey perspective on fi nding and prioritizing synergies Best-practice companies explore the full range of opportunities to achieve maximum value from every merger.
    [Show full text]
  • Executive Summary: Business Plan Basics
    Middletown Small Business Development Center Writing your Business Plan with MSBDC Template Tools Paul M. Hughes Middlesex County Chamber of Commerce 393 Main Street Middletown, CT 06457 860 - 347 - 6924 Facsimile: 860 - 346 - 1043 [email protected] © Paul M. Hughes, 7 January 2009 Table of Contents Getting Started ....................................................................................................................................... 1 The Narrative ......................................................................................................................................... 4 Executive Summary ............................................................................................................................ 4 Mission & Vision................................................................................................................................ 7 Company Description ......................................................................................................................... 8 History of The Company ................................................................................................................. 9 Product & Service Description.......................................................................................................... 10 Industry Analysis .............................................................................................................................. 11 Target Market...................................................................................................................................
    [Show full text]
  • Business Plan (PDF)
    the plan: A Step-by-Step BUSINESS PLAN WORKBOOK Illinois Small Business Development Centers "Experts, networks, and tools to transform your business" Illinois Small Business Development Centers Jo Daviess Stephenson Winnebago Boone Mc Henry Lake (SBDC) provide information, confidential business guidance, training and other Carroll Ogle resources to early stage and existing small De Kalb Kane Cook businesses. Whiteside See Lee Illinois International Trade Centers (ITC) Du Page* Note Below provide information, counseling and Kendall Will training to existing, new to-export Henry Bureau La Salle companies inte rested in pursuing Rock Island Grundy international trade opportunities. Mercer Illinois Procurement Technical Stark Putnam Kankakee Knox Marshall Assistance Centers (PTAC) provide one- Warren Livingston Peoria Iroquois on-one counseling, technical Woodford information, marketing assistance and Henderson McLean training to existing businesses Fulton Tazewell that are interested in selling their Hancock Mc Donough Ford products and/or services to Vermilion Mason Champaign local, state, or federal Logan Schuyler De Witt government agencies. Adams Piatt Menard Brown Technology, Innovation and Cass Macon Entrepreneurship Specialty Sangamon (TIES) ten SBDC locations Morgan Douglas Edgar Pike Scott Moultrie help Illinois businesses, Christian Coles entrepreneurs and citizens to Shelby Greene Macoupin succeed in a changing economy by: Calhoun Clark developing the skills of their workers; Montgomery Cumberland promoting safe and healthy workplaces;
    [Show full text]
  • Fill-In-The-Blanks Business Plan Outline
    FILL-IN-THE-BLANKS BUSINESS PLAN OUTLINE TABLE OF CONTENTS I. EXECUTIVE SUMMARY QUESTION Statement of Purpose 1 Legal Structure 2 Owners 3 Location 4 Business Concept 5 Mission Statement 6 Vision Statement 7 II. MANAGEMENT & ORGANIZATION Management Team 8 Hiring Practices 9 Organizational Structure 10 Staffing Expense/Benefits 11 III. PRODUCTS & FACILITIES Initial Products or Services 12 Proprietary Features 13 Future Planned Products or Services 14 Physical Facilities 15 Equipment Requirements 16 Production & Process Capacity 17 Significant Vendors 18 Licensing Requirements 19 IV. INDUSTRY ANALYSIS Background/Trends for Industry 20 Typical customers & buying patterns 21 Marketing niche 22 Competitors 23 Strengths 24 Weaknesses 25 Substitutes or indirect competition 26 Unique Selling Proposition & Overt Benefit 27 V. THE MARKETING PLAN Marketing Strategy 28 Marketing Objectives 29 Promotion Plans 30 Sales and Distribution 31 Warrantees, guarantees, serving issues 32 VI. THE FINANCIAL PLAN Financial summary 33 Historical financial statements 34 Financial Projections – 3-5 years 35 Financial Projections – first year 36 Start-up Costs 37 RMA – Risk Management Associates 38 Financial Ratios Analysis 39 FILL-IN-THE-BLANKS BUSINESS PLAN OUTLINE ATTACHMENTS & WORKSHEETS Product/Services Description Customers Competitive Analysis Start-up Costs Balance Sheet Sales Forecast Cost of Goods Sold Operating Expense Occupancy Expense Advertising Budget Insurance Salaries and Wages Miscellaneous Expense Projected Income Statement Cash Flow Projections Fixed Assets Debt Breakeven/ Critical Mass Timetable FILL-IN-THE-BLANKS BUSINESS PLAN OUTLINE EXECUTIVE SUMMARY 1. What is the overall purpose of your business? 2. What is your legal structure? (Proprietorship, partnership, corporation?) 3. Who are the key owners, officers, managers, employees, etc.? 4.
    [Show full text]
  • Growing Your Business Through Mergers & Acquisitions
    Growing Your Business Through Mergers & Acquisitions Mergers and acquisitions occur when companies consolidate, usually with a larger company acquiring a smaller company, or two companies merging their business activities. There can be many benefits of M&A such as increased growth, cost synergies, complementary product and service offerings, skilled talent, new markets, increased liquidity and much more. The current economic environment may present excellent opportunities for M&A. Suitors may find opportunities to acquire companies that may otherwise not be open to being acquired. Struggling companies may find a lifeline from a merger or acquisition. Even if neither company is struggling, combining forces may give companies the ability to aggressively gain market share when competitors are just trying to maintain the business that they have. Depending on your goals and options at hand, you may want to consider M&A as part of your company’s growth strategy. This article cover some of the benefits, challenges and key things to consider with M&A. Benefits One of the primary benefits of merging companies over more traditional forms of growth is the speed with which a merger can be implemented. Growth through traditional sales and marketing simply takes time. And, the more crowded and competitive a market, the more time it can take. Mergers, on the other hand, can often grow a business much faster - as quickly as the merger can be completed. Time may not be the only benefit from a customer and revenue growth perspective. Traditional sales and marketing can be expensive and carries a certain cost to acquire a customer.
    [Show full text]
  • Start-Up a Cooperative
    Start.COOP A STEP-BY-STEP TOOL TO START-UP A COOPERATIVE Start.COOP by International Labour Organization (ILO) is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 Unported License. Start.COOP Start.COOP has been developed as a low-cost, easy to use training tool for those interested in starting and launching a cooperative in a participatory and efficient manner. It draws on technical content from existing materials in different ILO cooperative training tools and peer-to-peer, activity based learning methodology from the ILO’s Community-Based Enterprise Development (C-BED) pro- gramme. The Start.COOP training tool has been divided into four modules that correspond to each phase of the cooperative formation process to give you time to reflect on the importance of what you are doing at a given time and to see how it fits into the big picture. The focus of the Start.COOP modules is on the decisions to be made at each step with a view to increasing chances of success. At the end of the training you will be able to: • Identify the core members of your cooperative • Define your business idea • Research the feasibility of your business idea • Prepare your business plan • Decide on the organizational set-up of your cooperative To learn more about the ILO’s work on cooperatives visit www.ilo.org/coop or email: [email protected] To learn more about the ILO’s peer-to-peer, activity based learning methodology visit www.cb-tools.org Acknowledgements Start.COOP was developed collaboratively by the ILO Decent Work Team Bangkok and the Coopera- tives Unit of the Enterprises Department at the ILO.
    [Show full text]
  • Business Planning and Financial Forecasting a Start-Up Guide
    Business Planning and Financial Forecasting A Start-up Guide Ministry of Small Business and Economic Development Ministry of Small Business and Economic Development Business Planning and Financial Forecasting A Start-up Guide Western Economic Diversification Canada and the Ministry of Small Business and Economic Development are pleased to publish Business Planning and Financial Forecasting: A Guide for Business Start-Up. This web-based guide is available on Small Business BC’s website by clicking on Small Business Guides at www.smallbusinessbc.ca. For all your other business information needs go to British Columbia’s award- winning resource centre for business information and planning tools. Small Business BC Suite 82, 601 West Cordova, Vancouver, BC V6B 1G1 Phone: Toll Free 1 800 667 2272 In Greater Vancouver 604 775-5525 Fax: 604 775-5520 e-mail: visit www.smallbusinessbc.ca/email website: www.smallbusinessbc.ca The Business Plan Introduction You want to start a business – or expand your existing business. You have a great idea, super attitude and the entrepreneurial spirit. So you head down to your local bank or financial institution; you sit down in front of the credit manager and start to explain this brilliant idea when she interrupts you: “That sounds great, but where is your business plan?” This scenario is played out every day in Canada – people with ideas who want to plunge into business without having done a business plan. The purpose of this guide is to explain in simple terms the business plan concept and to show you how to put your own plan together.
    [Show full text]