Energex has attributed customers’ changing energy behaviour and improved network reliability as key milestones in its past 12 months.
In its 2013-14 Annual Performance Report the South-East Queensland power distribution company said strong operational outcomes have been achieved, including, “the best physical delivery in many years including major projects, maintenance and operations and achieving all performance target outcomes.”
Chairman of the Energex Limited Board Shane Stone said the company’s Business Efficiency Program to reduce expenditure would deliver $124.2 million in annualised savings and continue Energex’s efforts to put downward pressure on power prices.
“But there is more to do. I know the board, executive management, senior managers and staff are committed to driving down these costs while at the same time maintaining a focus on ensuring customers continue to receive a safe and reliable supply of power,” Mr Stone said.
The chairman also highlighted the company’s targeted community support program, which provided direct financial and equipment support to hundreds of South-East Queensland community groups including volunteer organisations such as firefighters, marine rescue and helicopter rescue groups.
The report also acknowledged the average annual drop in customer energy use by almost 20 per cent in five years from around 7400kWh in 2009 to 6000kWh in 2014, with chief executive officer Terry Effeney saying changing energy behaviour had wide-ranging implications for the business.
“This year we spent more than $1 billion on improvements to our electricity infrastructure resulting in better real-time network information and reliability improvements compared to minimum service standards,” he said.
This includes the replacement of ageing assets and targeted maintenance programs in areas with poorer reliability rather than investment driven by growth.
Among other annual performance report highlights were the commissioning of six new zone and bulk substations and upgrades to 10 zone and bulk substations in localised growth areas of the network; construction or augmentation of 18 x 33,000 volt powerlines and 205 x 11,000 powerlines; and facilitation of the connection of 39,000 solar power systems to Queensland homes.