DOCSLIB.ORG

Statement of Corporate Intent 2015/16

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Statement of Corporate Intent 2015/16 STATEMENT OF CORPORATE INTENT 2015/16 with deletions of commercially sensitive material Stanwell Corporation Limited ABN 37 078 848 674 COMMERCIAL-IN-CONFIDENCE This document contains confidential information relating to the business affairs of Stanwell Corporation Limited. Release of its content is subject to the provisions of the Right to Information Act 2009 . Any unauthorised disclosure of material contained in this document may diminish the commercial value of that information and may have an adverse impact on the business, commercial and financial affairs of Stanwell Corporation Limited. Statement of Corporate Intent 2015/16 Page 1 of 35 Commercial-in-Confidence CONTENTS 1.0 Performance agreement ......................................................................................................... 3 2.0 Business overview.................................................................................................................. 4 3.0 Objectives and initiatives ....................................................................................................... 6 4.0 Key performance indicators – Quarterly ........................................................................... 14 5.0 Financial information – Quarterly ...................................................................................... 15 5.1 Income statement.......................................................................................................... 15 5.2 Balance sheet ............................................................................................................... 16 5.3 Cash flow statement ..................................................................................................... 17 6.0 Compliance with GOC legislation and policies ................................................................. 18 6.1 GOC legislation ............................................................................................................. 18 6.2 GOC policies ................................................................................................................. 18 Appendix A: Definitions .......................................................................................................... 20 Appendix B: Corporate entertainment and hospitality ........................................................ 22 Appendix C: Key performance indicators – Year to date .................................................... 23 Appendix D: Financial information – Year to date ............................................................... 24 Income statement ................................................................................................................... 24 Balance sheet ......................................................................................................................... 25 Cash flow statement ............................................................................................................... 26 Appendix E: Weighted average cost of capital .................................................................... 27 Appendix F: Employment and Industrial Relations Plan .................................................... 29 Statement of Corporate Intent 2015/16 Page 2 of 35 Commercial-in-Confidence 1.0 PERFORMANCE AGREEMENT This Statement of Corporate Intent (SCI) and all attachments are presented in accordance with Chapter 3, Part 8 of the Government Owned Corporations Act 1993 (GOC Act). In accordance with Chapter 1, Part 3, Section 7 of the GOC Act, the SCI represents a formal performance agreement between the Board of Stanwell Corporation Limited (Stanwell) and its shareholding Ministers with respect to the financial and non-financial performance targets specified for the financial year. The SCI represents an acknowledgment of, and agreement to major activities, objectives, undertakings, policies, investments and borrowings of Stanwell for 2015/16. Stanwell’s core business is: • operating coal-fired electricity generation plant at Stanwell Power Station, Tarong Power Station and Tarong North Power Station, gas-fired generation plant at Swanbank E Power Station and Mica Creek Power Station, hydro generation plant at Kareeya, Barron Gorge, Koombooloomba and Wivenhoe (small) power stations and diesel oil-fuelled plant at Mackay Gas Turbine; • electricity, gas, coal and other commodity sales and trading; • operating Meandu Mine and managing other critical sources of fuel to support the needs of the generation portfolio, and • managing energy resources to ensure continued optionality for trading and/or generation. This SCI is consistent with Stanwell’s Corporate Plan 2015/16 to 2019/20 submitted to shareholding Ministers, and agreed in accordance with Chapter 3, Part 8 of the GOC Act. In signing this document, Stanwell’s Board undertakes to achieve the targets proposed in the SCI for 2015/16. Major changes to key assumptions and outcomes detailed in this SCI, and which come to the Board’s attention during the year, will be brought to the attention of shareholding Ministers. Any modifications to this SCI will be dealt with in accordance with the GOC Act. This SCI is signed on behalf of all the directors in accordance with a unanimous decision of the Board of Stanwell. …………………………………. Shane Charles Chairman Date: …………………………………. ……………………………… The Hon Curtis Pitt MP The Hon Mark Bailey MP Treasurer and Minister for Employment, and Minister for Main Roads, Road Safety and Ports Industrial Relations and Minister for Aboriginal and and Minister for Energy and Water Supply Torres Strait Islander Partnerships Date: Date: Statement of Corporate Intent 2015/16 Page 3 of 35 Commercial-in-Confidence 2.0 BUSINESS OVERVIEW We are a diversified energy business. We own coal, gas and water assets which we use to generate electricity; we sell electricity directly to business customers; and we trade gas and coal. Our portfolio of fuel, generation and retail electricity contracts allows us to achieve the best possible returns from our business. Stanwell is able to shift revenue between generation and other energy markets depending on market conditions. By switching between generating and selling our fuel (depending on market conditions), we can meet the demand for our energy products and get the best value from our assets. With a generating capacity of more than 4,100 megawatts, Stanwell is the largest electricity generator in Queensland. We have the capacity to supply more than 45 per cent of Queensland’s peak electricity requirements through our coal, gas and hydro power stations. We create value from this portfolio by switching generation between fuels depending on market conditions. We own and have access to competitively priced fuel to use at our power stations. This gives us a significant cost advantage in the market. In cases where it provides a better return, we sell our coal or gas to customers instead of using it to generate electricity. We have an established retail business, selling electricity directly to business customers. We are growing this retail service to include a broader range of business customers in Queensland, New South Wales, the Australian Capital Territory and Victoria. Statement of Corporate Intent 2015/16 Page 4 of 35 Commercial-in-Confidence Statement of Corporate Intent 2015/16 Page 5 of 35 Commercial-in-Confidence 3.0 OBJECTIVES AND INITIATIVES With improving market conditions and continued cost management, Stanwell’s 2015/16 SCI builds upon Stanwell’s previous strategic initiatives to deliver a significantly improved commercial performance and long-term profitability from its generation business. To deliver on this commitment, Stanwell has structured its strategic approach around three themes: Sell our energy for the best return Optimise trading revenue, find alternative outlets for energy and diversify revenue streams. Simplify and streamline our business Create value from the way Stanwell operates its generation portfolio by continuing the organisation’s focus on improving cost and performance efficiencies from core business operations. Secure our future Provide a safe workplace, engage and retain a high performing workforce and secure ongoing support for Stanwell’s operations and corporate direction. Statement of Corporate Intent 2015/16 Page 6 of 35 Commercial-in-Confidence Sell our energy for the best return OPTIMISE GROSS MARGIN What we will do How we will do it Increase our trading revenue ••• Develop and execute integrated spot, contract and fuel trading strategies that improve short and long- term revenue performance Ensure asset performance supports trading ••• Implement asset management strategies and lifecycle requirements plans to ensure asset performance meets market needs ••• Complete plant and equipment overhauls and capital projects within approved budgets and timeframes • Develop an ash disposal plan for the life of Stanwell’s coal-fired generation assets Reduce fuel and mine costs ••• Deliver coal to the Tarong power stations in line with the 2014 Meandu Life of Mine Plan ••• Extract synergies between mine and power station (minimise pit to pole operating costs) ••• Continue to support the Hitachi autonomous truck trials and assessment at Meandu Mine ••• Progress stakeholder agreement and regulatory approvals for surface rights extension at Meandu Mine Secure commercial water supply arrangements ••• Implement strategies to secure a commercial water supply for Stanwell’s generation assets Statement of Corporate Intent 2015/16 Page 7 of 35 Commercial-in-Confidence
Load more

Recommended publications
  • Ipa0810-Qld-Energy-Paper Final
    POWERING QUEENSLAND: Why competitive, private electricity markets offer lower prices and better infrastructure 2 | POWERING QUEENSLAND: WHY COMPETITIVE, PRIVATE ELECTRICITY MARKETS OFFER LOWER PRICES AND BETTER INFRASTRUCTURE For more information please contact: Brendan Lyon Chief Executive Officer Infrastructure Partnerships Australia T 02 9240 2050 E [email protected] Jonathan Kennedy Director, Policy Infrastructure Partnerships Australia T 02 9240 2057 E [email protected] Ilya Zak Manager, Policy Infrastructure Partnerships Australia T 02 9240 2063 E [email protected] Copyright @ Infrastructure Partnerships Australia Disclaimer Infrastructure Partnerships Australia provides no warranties and representations in relation to the information provided in this paper. It is not intended for and should not be relied upon by any third party and no responsibility is undertaken. CONTENTS EXECUTIVE SUMMARY 8 RECOMMENDATIONS 11 1 THE CASE FOR REFORM 14 1.1 STALLED REFORM & PRICE IMPACTS 14 1.2 FISCAL CONSTRAINTS 15 1.3 CONFLICTS OF INTEREST 18 2 A CLEAR REFORM PATHWAY 20 2.1 RETAIL 20 2.1.1 EsTABLISHING AN EFFICIENT MARKET PRICE 20 2.1.2 ACHIEVING A TRULY COMPETITIVE RETAIL MARKET 21 2.2 GENERATION 22 2.3 NETWORKs 24 APPENDIX A – VALUATION WORKINGS 27 DISTRIBUTION AND TRANSMISSION 27 GENERATION 28 RETAIL 30 APPendix B – PrioriTY INFRASTRUCTURE PROJECTS 31 BIBLIOGRAPHY 33 TABLE OF FIGURES FIGURE 1: ELECTRICITY RETAIL MARKET SHARE (SMALL CUSTOMERS) BY JURISDICTION, 2011 14 FIGURE 2: INSTALLED GENERATION
    [Show full text]
  • Ensuring Reliable Electricity Supply in Victoria to 2028: Suggested Policy Changes
    Ensuring reliable electricity supply in Victoria to 2028: suggested policy changes Associate Professor Bruce Mountain and Dr Steven Percy November 2019 All material in this document, except as identified below, is licensed under the Creative Commons Attribution-Non- Commercial 4.0 International Licence. Material not licensed under the Creative Commons licence: • Victoria Energy Policy Centre logo • Victoria University logo • All photographs, graphics and figures. All content not licenced under the Creative Commons licence is all rights reserved. Permission must be sought from the copyright owner to use this material. Disclaimer: The Victoria Energy Policy Centre and Victoria University advise that the information contained in this publication comprises general statements based on scientific research. The reader is advised and needs to be aware that such information may be incomplete or unable to be used in any specific situation. No eliancer or actions must therefore be made on that information without seeking prior expert professional, scientific and technical advice. To the extent permitted by law, the Victoria Energy Policy Centre and Victoria University (including its employees and consultants) exclude all liability to any person for any consequences, including but not limited to all losses, damages, costs, expenses and any other compensation, arising directly or indirectly from using this publication (in part or in whole) and any information or material contained in it. Publisher: Victoria Energy Policy Centre, Victoria University, Melbourne, Australia. ISBN: 978-1-86272-810-3 November 2019 Citation: Mountain, B. R., and Percy, S. (2019). Ensuring reliable electricity supply in Victoria to 2028: suggested policy changes. Victoria Energy Policy Centre, Victoria University, Melbourne, Australia.
    [Show full text]
  • State of the Energy Market 2011
    state of the energy market 2011 AUSTRALIAN ENERGY REGULATOR state of the energy market 2011 AUSTRALIAN ENERGY REGULATOR Australian Energy Regulator Level 35, The Tower, 360 Elizabeth Street, Melbourne Central, Melbourne, Victoria 3000 Email: [email protected] Website: www.aer.gov.au ISBN 978 1 921964 05 3 First published by the Australian Competition and Consumer Commission 2011 10 9 8 7 6 5 4 3 2 1 © Commonwealth of Australia 2011 This work is copyright. Apart from any use permitted under the Copyright Act 1968, no part may be reproduced without prior written permission from the Australian Competition and Consumer Commission. Requests and inquiries concerning reproduction and rights should be addressed to the Director Publishing, ACCC, GPO Box 3131, Canberra ACT 2601, or [email protected]. ACKNOWLEDGEMENTS This report was prepared by the Australian Energy Regulator. The AER gratefully acknowledges the following corporations and government agencies that have contributed to this report: Australian Bureau of Statistics; Australian Energy Market Operator; d-cyphaTrade; Department of Resources, Energy and Tourism (Cwlth); EnergyQuest; Essential Services Commission (Victoria); Essential Services Commission of South Australia; Independent Competition and Regulatory Commission (ACT); Independent Pricing and Regulatory Tribunal of New South Wales; Office of the Tasmanian Economic Regulator; and Queensland Competition Authority. The AER also acknowledges Mark Wilson for supplying photographic images. IMPORTANT NOTICE The information in this publication is for general guidance only. It does not constitute legal or other professional advice, and should not be relied on as a statement of the law in any jurisdiction. Because it is intended only as a general guide, it may contain generalisations.
    [Show full text]
  • ANNUAL REPORT 2013/14 About This Report About Stanwell
    ANNUAL REPORT 2013/14 About this report About Stanwell This report provides an overview of the major Stanwell is a diversified energy business. initiatives and achievements of Stanwell We own coal, gas and water assets, which Corporation Limited (Stanwell) as well as the we use to generate electricity; we sell business’ financial and non-financial performance electricity directly to business customers; for the 12 months ended 30 June 2014. and we trade gas and coal. Each year, we document the nature and scope With a generating capacity of approximately of our strategies, objectives and actions in our 4,200 megawatts, Stanwell is the largest Statement of Corporate Intent. The Statement electricity generator in Queensland. of Corporate Intent represents our performance We have the capacity to supply more agreement with our shareholding Ministers. than 45 per cent of the State’s peak Our performance against our 2013/14 Statement electricity requirements through our of Corporate Intent is summarised on page 5 coal, gas and hydro generation assets. and pages 8 to 15. As at 30 June 2014, we employed Electronic versions of this and previous years’ 710 people at our sites and offices. reports are available online at www.stanwell.com or from Stanwell’s Stakeholder Engagement team on 1800 300 351. Our mission Stanwell contributes to Queensland's prosperity through the safe and responsible provision of energy and commercial returns from business operations. TABLE OF CONTENTS Our values About Stanwell Our values – Safe, Responsible and Commercial – shape how we lead and Report from the Board 2 operate our business. Chief Executive Officer’s review 3 Together, they guide how we think, make Performance indicators 5 decisions and act on a day-to-day basis at Stanwell.
    [Show full text]
  • The Calculation of Energy Costs in the BRCI for 2010-11
    The calculation of energy costs in the BRCI for 2010-11 Includes the calculation of LRMC, energy purchase costs, and other energy costs Prepared for the Queensland Competition Authority Draft Report of 14 December 2009 Reliance and Disclaimer In conducting the analysis in this report ACIL Tasman has endeavoured to use what it considers is the best information available at the date of publication, including information supplied by the addressee. Unless stated otherwise, ACIL Tasman does not warrant the accuracy of any forecast or prediction in the report. Although ACIL Tasman exercises reasonable care when making forecasts or predictions, factors in the process, such as future market behaviour, are inherently uncertain and cannot be forecast or predicted reliably. ACIL Tasman Pty Ltd ABN 68 102 652 148 Internet www.aciltasman.com.au Melbourne (Head Office) Brisbane Canberra Level 6, 224-236 Queen Street Level 15, 127 Creek Street Level 1, 33 Ainslie Place Melbourne VIC 3000 Brisbane QLD 4000 Canberra City ACT 2600 Telephone (+61 3) 9604 4400 GPO Box 32 GPO Box 1322 Facsimile (+61 3) 9600 3155 Brisbane QLD 4001 Canberra ACT 2601 Email [email protected] Telephone (+61 7) 3009 8700 Telephone (+61 2) 6103 8200 Facsimile (+61 7) 3009 8799 Facsimile (+61 2) 6103 8233 Email [email protected] Email [email protected] Darwin Suite G1, Paspalis Centrepoint 48-50 Smith Street Darwin NT 0800 Perth Sydney GPO Box 908 Centa Building C2, 118 Railway Street PO Box 1554 Darwin NT 0801 West Perth WA 6005 Double Bay NSW 1360 Telephone
    [Show full text]
  • ANNUAL REPORT 2013/14 About This Report About Stanwell
    ANNUAL REPORT 2013/14 About this report About Stanwell This report provides an overview of the major Stanwell is a diversified energy business. initiatives and achievements of Stanwell We own coal, gas and water assets, which Corporation Limited (Stanwell) as well as the we use to generate electricity; we sell business’ financial and non-financial performance electricity directly to business customers; for the 12 months ended 30 June 2014. and we trade gas and coal. Each year, we document the nature and scope With a generating capacity of approximately of our strategies, objectives and actions in our 4,200 megawatts, Stanwell is the largest Statement of Corporate Intent. The Statement electricity generator in Queensland. of Corporate Intent represents our performance We have the capacity to supply more agreement with our shareholding Ministers. than 45 per cent of the State’s peak Our performance against our 2013/14 Statement electricity requirements through our of Corporate Intent is summarised on page 5 coal, gas and hydro generation assets. and pages 8 to 15. As at 30 June 2014, we employed Electronic versions of this and previous years’ 710 people at our sites and offices. reports are available online at www.stanwell.com or from Stanwell’s Stakeholder Engagement team on 1800 300 351. Our mission Stanwell contributes to Queensland's prosperity through the safe and responsible provision of energy and commercial returns from business operations. TABLE OF CONTENTS Our values About Stanwell Our values – Safe, Responsible and Commercial – shape how we lead and Report from the Board 2 operate our business. Chief Executive Officer’s review 3 Together, they guide how we think, make Performance indicators 5 decisions and act on a day-to-day basis at Stanwell.
    [Show full text]
  • 1 National Electricity Market Chapter 1
    Hydro Tasmania Hydro 1 NATIONAL ELECTRICITY MARKET CHAPTER 1 M EL NATIO The National Electricity Market (NEM) is a wholesale • the increasing use of rooftop solar photovoltaic (PV) Figure 1.2a AR E CTRICITY market in which generators sell electricity in eastern and generation, which is reducing demand for energy Annual actual and forecast peak demand, by region KE N southern Australia. The main customers are energy retailers, supplied through the grid by the national market. T 16 000 AL which bundle electricity with network services for sale to residential, commercial and industrial energy users. Figure 1.1 14 000 National Electricity Market electricity demand, by region The market covers six jurisdictions—Queensland, New 12 000 South Wales, the Australian Capital Territory (ACT), Victoria, Tasmanian entry 250 South Australia and Tasmania—that are physically linked 10 000 by an interconnected transmission network. It has around 200 200 large generators, five state based transmission 8 000 networks (linked by cross-border interconnectors) and 150 13 major distribution networks that supply electricity to end Megawatts 6 000 use customers. In geographic span, the NEM is one of the 100 4 000 longest continuous alternating current systems in the world, hours Terawatt 50 covering a distance of 4500 kilometres. 2 000 1999–00 2010–11 2011–12 0 2000–01 2001–02 2002–03 2003–04 2004–05 2005–06 2006–07 2007–08 2008–09 2009–10 Table 1.1 National Electricity Market at a glance 0 1999–00 2000–01 2001–02 2002–03 2003–04 2004–05 2005–06 2006–07 2007–08 2008–09 2009–10 2010–11 2011–12 2012–13 2013–14 2014–15 2015–16 2016–17 2017–18 2018–19 2019–20 2020–21 2021–22 Participating jurisdictions Qld, NSW, Vic, SA, Tas, ACT Queensland New South Wales Victoria NEM regions Qld, NSW, Vic, South Australia Tasmania Snowy Queensland New South Wales Victoria South Australia Tasmania SA, Tas Note: The Snowy region was abolished on 1 July 2008.
    [Show full text]
  • Powerlink Queensland Revenue Proposal
    2018-22 POWERLINK QUEENSLAND REVENUE PROPOsaL Supporting Document Powerlink Queensland Asset Management Plan (Volume 3 - Area Plans) © Copyright Powerlink Queensland 2016 Delivering better value ASSET MANAGEMENT PLAN 2015 Volume 3 – Area Plans Prepared by: Strategy and Planning Investment and Planning December 2015 Objective ID: A2265341 DISCLAIMER This Asset Management Plan has been produced to provide general information about the development of Powerlink’s network and is a summary of the best view of asset investment strategies at the time of writing. In many cases, the projects listed in the Asset Management Plan have been selected from a large number of future scenarios and are the result of preliminary investigations. As well as the need for future analysis to evaluate system and asset conditions and alternatives, there are processes described in the National Electricity Rules that need to be followed before projects can be approved. It is possible that projects listed here may change in scope or timing, be replaced by other projects or deemed unnecessary. Business decisions and actions should not be made solely on the basis of information contained here. The Asset Management Plan does not replace any current business or approval processes. Risk costs continue to be enhanced and at this stage should not be used to solely prioritise projects or prioritise projects between asset classes as currently not all risks have been modelled which leads to some risk costs being understated. Similarly some asset risks are based on desktop analysis at an asset fleet level rather than based on individual asset condition, depending on the timing of the anticipated investment need.
    [Show full text]
  • Calculation of Energy Costs for the 2011-12 BRCI
    Calculation of energy costs for the 2011-12 BRCI Includes the calculation of energy purchase costs, LRMC, and other energy costs Prepared for the Queensland Competition Authority Draft Report of 16 December 2010 Reliance and Disclaimer In conducting the analysis in this report ACIL Tasman has endeavoured to use what it considers is the best information available at the date of publication, including information supplied by the addressee. Unless stated otherwise, ACIL Tasman does not warrant the accuracy of any forecast or prediction in the report. Although ACIL Tasman exercises reasonable care when making forecasts or predictions, factors in the process, such as future market behaviour, are inherently uncertain and cannot be forecast or predicted reliably. ACIL Tasman Pty Ltd ABN 68 102 652 148 Internet www.aciltasman.com.au Melbourne (Head Office) Brisbane Canberra Level 6, 224-236 Queen Street Level 15, 127 Creek Street Level 1, 33 Ainslie Place Melbourne VIC 3000 Brisbane QLD 4000 Canberra City ACT 2600 Telephone (+61 3) 9604 4400 GPO Box 32 GPO Box 1322 Facsimile(+61 3) 9600 3155 Brisbane QLD 4001 Canberra ACT 2601 Email melbourne@aciltasman com au Telephone(+61 7) 3009 8700 Telephone(+61 2) 6103 8200 Facsimile(+61 7) 3009 8799 Facsimile(+61 2) 6103 8233 Emailbrisbane@aciltasman com au Emailcanberra@aciltasman com au Darwin Suite G1, Paspalis Centrepoint 48-50 Smith Street Darwin NT 0800 Perth Sydney GPO Box 908 Centa Building C2, 118 Railway Street PO Box 1554 Darwin NT 0801 West Perth WA 6005 Double Bay NSW 1360 Telephone(+61 8)
    [Show full text]
  • Create. Generate. Innovate. Generate
    Annual Report 2012 create. generate. innovate. Page heading here About this report Contents Our Annual Report showcases the major initiatives and achievements of Stanwell About Stanwell 02 Corporation Limited (Stanwell). Performance indicators 03 This report reviews the company’s financial and non-financial performance in 2011–12. Strategic direction 03 Due to the significant change in the business in 2011–12 compared with the Performance overview 04 previous year, resulting from the restructure of the Queensland Government owned Year ahead 05 generating sector, we have adopted a range of different benchmarking options throughout the report, depending on availability of data. Chairman’s statement 06 This report also provides information on other important business processes such CEO’s review 08 as our approach to corporate governance (pages 25 – 31) and risk management. Board of Directors 10 The aim of this report is to provide accurate and detailed information to meet Executive Leadership Team 11 the needs of our stakeholders, who include but are not limited to shareholding Ministers and government, employees and contractors, local communities, Health, safety and environment 12 customers, regulators and suppliers. People and community 16 To assist in reading our Annual Report, we have included a glossary on page 116 Business performance 19 and an index on page 117. – Mining 19 Electronic versions of this and previous years’ reports are available online at www.stanwell.com or from the Community and Stakeholder Engagement team on – Generation 20 1800 300 351. – Marketing and trading 22 We welcome your comments on this report as they assist us to continually improve Acting CFO’s report 24 our reporting and meet the needs of our stakeholders.
    [Show full text]
  • Create. Generate. Innovate. Generate
    Annual Report 2012 create. generate. innovate. Page heading here About this report Contents Our Annual Report showcases the major initiatives and achievements of Stanwell About Stanwell 02 Corporation Limited (Stanwell). Performance indicators 03 This report reviews the company’s financial and non-financial performance in 2011–12. Strategic direction 03 Due to the significant change in the business in 2011–12 compared with the Performance overview 04 previous year, resulting from the restructure of the Queensland Government owned Year ahead 05 generating sector, we have adopted a range of different benchmarking options throughout the report, depending on availability of data. Chairman’s statement 06 This report also provides information on other important business processes such CEO’s review 08 as our approach to corporate governance (pages 25 – 31) and risk management. Board of Directors 10 The aim of this report is to provide accurate and detailed information to meet Executive Leadership Team 11 the needs of our stakeholders, who include but are not limited to shareholding Ministers and government, employees and contractors, local communities, Health, safety and environment 12 customers, regulators and suppliers. People and community 16 To assist in reading our Annual Report, we have included a glossary on page 116 Business performance 19 and an index on page 117. – Mining 19 Electronic versions of this and previous years’ reports are available online at www.stanwell.com or from the Community and Stakeholder Engagement team on – Generation 20 1800 300 351. – Marketing and trading 22 We welcome your comments on this report as they assist us to continually improve Acting CFO’s report 24 our reporting and meet the needs of our stakeholders.
    [Show full text]
  • Stanwell Annual Report 2019/20 | Our Performance About Stanwell
    Together we create energy solutions Annual Report 2019/20 1 Table of contents About this report 3 Chief Executive Officer’s review 13 Our performance 4 Performance indicators 18 About Stanwell 5 Strategic direction 20 Our vision 5 Our five-year plan 22 Our values 5 Our 2019/20 performance 24 Our assets 8 Corporate governance 34 Chair’s statement 10 Financial results 46 2 About this report This report provides an overview of the major initiatives and achievements of Stanwell Corporation Limited (Stanwell), as well as the business’s financial and non-financial performance for the year ended 30 June 2020. Each year, we document the nature and scope of our strategy, objectives and actions in our Statement of Corporate Intent, which represents our performance agreement with our shareholding Ministers. Our performance against our 2019/20 Statement of Corporate Intent is summarised on pages 24 to 33. Electronic versions of this and previous years’ annual reports are available online at www.stanwell.com 3 Our performance • Despite a challenging year due to the • We received Australian Renewable Energy combination of an over-supplied energy market, Agency (ARENA) funding to assess the feasibility regulatory upheaval, the COVID-19 pandemic, of a renewable hydrogen demonstration plant at bushfires and widespread drought, our people Stanwell Power Station. responded to these challenges, and remained safe, while playing a critical role in keeping the • We achieved gold status from Workplace lights on for Queenslanders. Health and Safety Queensland in recognition of the longevity and success of our health and • We are one of the most reliable energy providers wellbeing initiatives.
    [Show full text]