GOVERNMENT TRADING ENTERPRISES PERFORMANCE INDICATORS 1992–93 TO 1996–97 STEERING COMMITTEE ON NATIONAL PERFORMANCE MONITORING OF GOVERNMENT TRADING ENTERPRISES APRIL 1998 ISSN 1327 - 1822 This work is not copyright. It may be reproduced in whole or in part provided suitable acknowledgment is included. The Industry Commission acts as the Secretariat for the Steering Committee on National Performance Monitoring of Government Trading Enterprises. Secretariat Steering Committee on National Performance Monitoring of GTEs c/- Industry Commission LB 2 Collins Street East Post Office Melbourne VIC 8003 Level 28 35 Collins Street Melbourne VIC 3000 Telephone: (03) 9653 2100 or Freecall: 1800 02 0083 Fax: (03) 9653 2199 E-mail: [email protected] http://www.incom.gov.au Steering Committee on National Performance Monitoring of Government Trading Enterprises This is the sixth annual report in the series. It covers the period 1992–93 to 1996–97. This data volume of the Steering Committee’s 1998 annual report is being published separately this year. The main report will be released at a later date. Financial and non-financial indicators of performance for each GTE, together with each participating GTE’s commentary on its own performance are provided in this report. The suite of indicators reported is similar to that published in previous years. This publication was compiled by the Secretariat under the direction of the Steering Committee on National Performance Monitoring of Government Trading Enterprises. The Steering Committee, with members from the State and Territory Governments, thank all those involved in its preparation, particularly those in the GTE’s that furnished the information. Gary Banks Acting Chairman CONTENTS 1 ELECTRICITY 1 2 GAS 123 3 WATER, SEWERAGE, DRAINAGE AND IRRIGATION 143 4 URBAN TRANSPORT 271 5 RAILWAYS 307 6 PORT AUTHORITIES 353 7 OTHER COMMONWEALTH GTEs 413 ATTACHMENTS A ENTERPRISE LISTINGS 439 B DEFINITIONS OF FINANCIAL INDICATORS 445 C DEFINITIONS OF NON-FINANCIAL INDICATORS 449 D UNITS OF QUANTITY USED IN PERFORMANCE 481 INDICATORS V 1 ELECTRICITY Delta Electricity (NSW) 3 Macquarie Generation (NSW) 7 Pacific Power (NSW) 11 TransGrid (NSW) 17 Advance Energy (NSW) 21 Australian Inland Energy (NSW) 27 EnergyAustralia (NSW) 33 Great Southern Energy (NSW) 39 Integral Energy (NSW) 45 NorthPower (NSW) 49 AUSTA Electric (Qld) 55 Queensland Transmission and Supply Corporation 59 ENERGEX (Qld) 63 CAPELEC (Qld) 69 ETSA Power (SA) 75 ETSA Transmission (SA) 81 Optima Energy (SA) 85 Western Power (WA) 89 Hydro-Electric Corporation (Tas) 95 Power and Water Authority (NT) 105 ACTEW Corporation (ACT) 113 1 STEERING COMMITTEE ON NATIONAL PERFORMANCE MONITORING OF GTEs DELTA ELECTRICITY (continued) Units 1992–93 1993–94 1994–95 1995–96 1996–97 Snowy Mountains Hydro-Electric Authority (C’wealth) 117 2 ELECTRICITY DELTA ELECTRICITY New South Wales Comments on own performance In March 1996, Delta Electricity commenced business as a new state owned corporation, operating as a generator in the new competitive State Electricity Market. Its legislative objective is to be a successful generator and provide competitively priced electricity in a safe, efficient and environmentally responsible manner. Delta Electricity comprises four power stations with a total capacity of 4240 MW and has a work force of around 1100 people. Mt. Piper, the newest coal fired power station in the State, and the recently refurbished Wallerawang, are located in the Central West region of New South Wales near Lithgow. Vales Point and Munmorah power stations are located on the Central coast. The Corporation’s portfolio of generators produced approximately 33 per cent of electricity supply in 1996–97. Delta Electricity has embraced the competitive environment for the electricity industry and has established a vision to be the supplier of first choice in the electricity market. The commencement of a National Electricity Market in 1997 is regarded as an opportunity to realise this vision, to be achieved through strategic alliances with customers and major suppliers plus financial and risk management strategies. Delta Electricity is committed to the development of the regions in which it operates and will contribute to regional development through its high standard of environmental performance and enhanced economic activity through its commercial success. 4 ELECTRICITY DELTA ELECTRICITY (continued) Units 1992–93 1993–94 1994–95 1995–96 1996–97 Financial Ratios (1,2) Return on assets (3) % n.r. n.r. n.r. 3.3 12.5 Return on operating assets (3) % n.r. n.r. n.r. 3.3 12.9 Operating sales margin % n.r. n.r. n.r. 22.1 25.3 Return on equity (3) % n.r. n.r. n.r. 2.8 3.0 Dividend to equity ratio (3) % n.r. n.r. n.r. 2.1 25.3 Dividend payout ratio % n.r. n.r. n.r. 76.6 849.6 Debt to equity % n.r. n.r. n.r. 98.2 73.4 Total liabilities to equity % n.r. n.r. n.r. 119.2 110.2 Current ratio % n.r. n.r. n.r. 279.3 81.5 Interest cover % n.r. n.r. n.r. 247.3 338.0 Cost recovery ratio % n.r. n.r. n.r. 128.4 100.0 Operational performance (3) % n.r. n.r. n.r. 3.3 0.0 Non-financial Ratios GENERAL Economic Factors Total factor productivity Index n.r. n.r. n.r. n.p. n.p. Economic rate of return % n.r. n.r. n.r. n.p. n.p. Efficiency Total days lost: - industrial disputes % n.r. n.r. n.r. n.p. n.p. - sick leave % n.r. n.r. n.r. n.p. n.p. - industrial accidents % n.r. n.r. n.r. n.p. n.p. - all % n.r. n.r. n.r. n.p. n.p. Size Total assets $M n.r. n.r. n.r. 1 481 1 495 Total revenue $M n.r. n.r. n.r. 220 701 System maximum demand MW n.r. n.r. n.r. n.p. n.p. Average total employment No n.r. n.r. n.r. 1 248 1 091 Service area Sq km n.r. n.r. n.r. n.p. n.p. Safety Lost time injury frequency rate No/Mil.Hrs n.r. n.r. n.r. n.p. n.p. 5 STEERING COMMITTEE ON NATIONAL PERFORMANCE MONITORING OF GTEs DELTA ELECTRICITY (continued) Units 1992–93 1993–94 1994–95 1995–96 1996–97 GENERATION Efficiency Load factor % n.r. n.r. n.r. n.p. n.p. Capacity factor: % n.r. n.r. n.r. n.p. n.p. Reserve plant margin: % n.r. n.r. n.r. n.p. n.p. Equivalent available factor % n.r. n.r. n.r. n.p. n.p. Labour productivity (excluding GWh/Emp n.r. n.r. n.r. n.p. n.p. construction & mine employees) Thermal efficiency % n.r. n.r. n.r. n.p. n.p. Service Quality Equivalent forced outage factor % n.r. n.r. n.r. n.p. n.p. Planned outage factor % n.r. n.r. n.r. n.p. n.p. Size Total physical output generated GWh n.r. n.r. n.r. n.p. n.p. Generating plant capacity MW n.r. n.r. n.r. n.p. n.p. Changes in generating plant capacity - plant added MW n.r. n.r. n.r. n.p. n.p. - plant decommissioned MW n.r. n.r. n.r. n.p. n.p. - plant in dry storage MW n.r. n.r. n.r. n.p. n.p. Cost & Revenue Measures Operation and maintenance costs: - excluding fixed costs: - - excluding fuel cost $/MWh n.r. n.r. n.r. n.p. n.p. - - including fuel cost $/MWh n.r. n.r. n.r. n.p. n.p. - including fixed costs: - - excluding fuel cost $/MWh n.r. n.r. n.r. n.p. n.p. - - including fuel cost $/MWh n.r. n.r. n.r. n.p. n.p. Environmental Indicators CO2 emissions kg/MWh n.r. n.r. n.r. n.p. n.p. Particulate emissions kg/MWh n.r. n.r. n.r. n.p. n.p. NOX emissions kg/MWh n.r. n.r. n.r. n.p. n.p. 6 STEERING COMMITTEE ON NATIONAL PERFORMANCE MONITORING OF GTEs DELTA ELECTRICITY (continued) NOTES TO INDICATORS FOR DELTA ELECTRICITY Key: n.p. - not provided; n.r. - not relevant. 1) Assets are valued at cost on transfer. 2) Delta Electricity commenced operations on 1 March 1996. Figure reported is the annualised result for the four months to 30 June 1996. 3) Delta Electricity is liable for all taxes including income tax equivalents being paid directly to the NSW Government under its tax equivalents regime. 7 ELECTRICITY MACQUARIE GENERATION New South Wales Comments on own performance Macquarie Generation’s aim is to be the leading electricity generator in the competitive National Electricity Market. The Corporation owns and operates two major coal-fired power stations. Bayswater and Liddell Power Stations are located near the township of Muswellbrook in the upper Hunter Valley of New South Wales. The Hunter Valley is well known for its plentiful supply of black coal, and our power stations source their supplies from local mines. Bayswater and Liddell both operated at high levels of efficiency, reliability and safety during 1996–97. Bayswater achieved record energy output and reliability in the last year and, with its high thermal efficiency, operated at base load in comparison to Liddell which operated in a planned intermediate role. Their combined operation ensure the most cost effective and reliable electricity supply to customers. Plant availability for the 12 month period exceeded 94 per cent for both power stations. The two stations have a combined generating capacity of 4640 MW, making Macquarie Generation the largest electricity generator in the competitive first stage of the National Electricity Market.