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ANNUAL REPORT 2015-16 Front Cover: One of Our Crews Performing Extra High Voltage Live Line Insulator Replacement Work TASMANIAN NETWORKS PTY LTD ANNUAL REPORT 2015-16 Front cover: One of our crews performing extra high voltage live line insulator replacement work. Top, left to right: Patrick Carroll and Tony Bowerman, Bottom, left to right: Matthew Conlan and Timothy Banks Tasmanian Networks Pty Ltd ABN 24 167 357 299 PO Box 606, Moonah, TAS 7009 1-7 Maria Street, Lenah Valley, Tasmania 7008 1300 12 7777 | tasnetworks.com.au CONTENTS CONTENTS 2015-16 in focus 2 About TasNetworks 11 Chairman’s review 13 CEO’s review 15 Business performance review 18 Zero Harm: Health, Safety and Environment 19 People 23 Financial 25 Customers 28 Network service 30 Corporate governance 35 Statement of Corporate Intent 2015-16 47 Directors’ report 50 Independent Auditor's report 53 Consolidated financial statements 55 TasNetworks Annual Report 2015-16 1 IN FOCUS IN 2015-16 2015-16 IN FOCUS Our crews repair damaged network assets against a backdrop of thick bushfire smoke. Safety first THE 2015-16 YEAR WAS A PERIOD Our 2015-16 safety performance was OF SIGNIFICANT CHALLENGES AND not up to the high standards we set ACHIEVEMENTS FOR OUR BUSINESS. for ourselves and the community. WE CONTINUE TO DELIVER A We responded to a decline in safety performance early in 2016 through a DEMANDING AGENDA WHILST KEEPING range of proactive measures, arresting SAFETY AT THE FOREFRONT OF OUR the decline. ACTIVITIES. IN THIS SECTION WE TasNetworks teams kept safety at the front of mind as we responded to HIGHLIGHT OUR PERFORMANCE OVER a number of severe weather events THE YEAR, AS WE STRIVE TO ACHIEVE impacting our customers during the year: appropriately prioritising safety OUR VISION TO BE TRUSTED BY ahead of supply restoration. CUSTOMERS TO DELIVER TODAY, AND Our proactive safety measures, including our behavioral safety CREATE A BETTER TOMORROW. program and near-hit reporting focus, continue to drive our business towards zero harm. 2 TasNetworks Annual Report 2015-16 2015-16 IN FOCUS IN OUR CUSTOMERS Mother Nature threw everything at us in 2015-16: a record dry spring, bushfires, then floods on the east coast, extreme winds, heavy snow and storm events, and more floods in the north and north-west. Our teams braved the elements to maintain and restore supply to our customers in a range of adverse conditions. We kept the lines of communication open with our customers as we worked to safely restore electricity to homes and businesses affected by multiple incidents across the state. We received fantastic community support for our efforts to restore supply. Feedback from the Tasmanian public, including through social media channels, recognised the efforts of our crews often working in difficult conditions. The Hon Michael Gaffney MLC congratulated TasNetworks for our support to the Latrobe and North-West communities through the extreme flooding events. Despite volatile conditions, our overall network service performance for the year was above target. During the year our customers and network This will see us earn reward were impacted by heavy flooding (top) and payments under national incentive severe storms (below). schemes. DESPITE VOLATILE CONDITIONS, OUR OVERALL NETWORK SERVICE PERFORMANCE FOR THE YEAR WAS ABOVE TARGET. THIS WILL SEE US EARN REWARD PAYMENTS UNDER NATIONAL INCENTIVE SCHEMES. TasNetworks Annual Report 2015-16 3 IN FOCUS IN 2015-16 Supplementary diesel generation we connected to our network at our George Town Substation to support Tasmania's Energy Supply Plan. Supporting the energy PREMIER OF TASMANIA, THE HON WILL HODGMAN, supply challenge AND MINISTER FOR ENERGY, THE HON MATTHEW GROOM, ACKNOWLEDGED THE HARD WORK Damage to the Basslink cable, coupled with some of the driest UNDERTAKEN BY TASNETWORKS TEAMS AND conditions Tasmania has experienced EXPRESSED THEIR GRATITUDE FOR THE IMMEDIATE for many years, presented an energy AND COMPETENT RESPONSE. supply challenge for the state. As part of Tasmania's Energy Supply Plan, TasNetworks teams collaborated TasNetworks demonstrated agility to provide innovative and practical and responsiveness to support Hydro solutions, including connecting Tasmania and the Tasmanian public, 200 megawatts of supplementary and our efforts were recognised by diesel generation sites across the our customers. Premier of Tasmania, state. We worked closely with the the Hon Will Hodgman, and Minister Australian Energy Market Operator for Energy, the Hon Matthew Groom, to ensure these new network acknowledged the hard work connections satisfied the technical undertaken by TasNetworks teams design, performance, customer and and expressed their gratitude for the stakeholder engagement criteria. immediate and competent response. 4 TasNetworks Annual Report 2015-16 2015-16 IN FOCUS IN Keeping the network in WE COMPLETED THE $11 MILLION REPLACEMENT OF good shape and doing POOR CONDITION ASSETS IN THE GEORGE TOWN things better 110,000 VOLT (110 KV) SUBSTATION, WHICH WILL SUSTAIN A RELIABLE SUPPLY AT THIS CRITICAL NODE Over the year we invested IN OUR TRANSMISSION NETWORK. $171 million to maintain, replace and extend the network to deliver services to our 280,000 customers. We reviewed our bushfire mitigation The project has improved reliability activities, and implemented a range Transforming the across our distribution network. of activities to improve vegetation business management around our assets. We continue to trial innovative technologies to support the safe and We are well underway in our ‘Ajilis’ We completed the $11 million efficient operation, maintenance and project to transform business systems replacement of poor condition reinvestment in our network. and processes. Ajilis will deliver an assets in the George Town 110,000 integrated platform to replace many volt (110 kV) Substation, which will Enabling connection disparate and disjointed IT systems, sustain a reliable supply at this critical and support process efficiencies node in our transmission network. choice that will provide the foundation for We completed a complex and Feedback from our customers was TasNetworks’ operations over the important protection upgrade at the that the process to connect to next 10 years. Risdon Substation in Hobart, which our distribution network needed In particular Ajilis will create a serves our distribution customers to improve. As a result, we’re TasNetworks way of working, remove and Nyrstar,one of our largest overhauling our current connection duplication and simplify operations transmission customers. processes. A key change is the across the business, improve data introduction of choice of service We delivered a significant upgrade quality and reporting, and streamline providers to design and construct to our supervisory control and business processes. the services needed for underground data acquisition (SCADA) platform, subdivision developments. to deliver better visibility of our distribution network and support better customer service outcomes. TasNetworks Annual Report 2015-16 5 IN FOCUS IN 2015-16 EMBRACING NEW TECHNOLOGY WE ARE COMMITTED TO TESTING NEW TECHNOLOGY TO PROVIDE CUSTOMER VALUE, AND SHARE OUR EXPERIENCE WITH OUR Hobart CUSTOMERS. Huonville Margate Dennes Point Creating a better Kettering tomorrow Cygnet Our industry is undergoing a significant period of transition. Navigating our business through this period will require us to act quickly and to be agile. Part of our plan is contributing to the Network Transformation Roadmap project, Dover undertaken by the Energy Networks Alonnah Association and CSIRO. This project Adventure Bay released a number of key documents during 2015-16 including research Bruny Island on customer expectations, customer engagement, and network pricing reform. For more information on this important initiative see www.ena.asn.au/electricity-network- transformation-roadmap. Cape Bruny TAS0279 Agfest 2016_Innovation Panels_E4-E5.indd 4 19/04/2016 3:36 pm 6 TasNetworks Annual Report 2015-16 Battery storage Batteries are expected to play a 2015-16 key role in transforming the energy sector world-wide. To better understand how batteries can support our customers and our FOCUS IN network, TasNetworks has embarked on a three-year project on Bruny Island. We have partnered with the Australian National University, the University of Sydney, University of Tasmania and battery control software business Reposit Power to undertake the research. Bruny Island was selected because of its unique combination of network limitations and customer desire to take charge of energy use. The project will research how customers can take charge of their energy use through batteries, and be rewarded for helping manage the electricity grid. The batteries TasNetworks' Paul Rayner presents the keys to an electric vehicle to Lyndon Stevenson of Community Transport will include energy management Services Tasmania Inc. as part of our new partnership with software that allows homeowners the organisation. to sell their power back to the grid, and reward them for helping to meet electricity demand on peak days. The TASNETWORKS IS LEARNING ABOUT THE IMPACT project was awarded $2.9 million in OF EVS ON OUR NETWORK, AND WILL SHARE THE funding by the Australian Renewable Energy Agency (ARENA). LESSONS WITH OTHER FLEET MANAGERS AND OUR CUSTOMERS. Electric vehicles become part of the family Interest in electric vehicles (EVs) is These EVs are in addition to two TasNetworks is learning about the growing, from how they operate, plug-in hybrid vehicles we are impact of EVs on our network, and how much they cost to run and already trialling in
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