Electricity North West is committed to ongoing stakeholder engagement and recognises that such engagement enhances the Company’s ability to achieve its aims and objectives and to provide the highest of service at a price customers can afford. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. As described in the Corporate Governance report on page 32, the Board is committed to diversity in its broadest sense and the Nominations Committee ensures this remains central to recruitment and succession planning. Safety considerations are an integral part of the organisational structure with ownership and accountability integrated into every role. Transaction costs that are directly attributable to the acquisition or issue of a financial asset or financial liability are included in the initial fair value of that instrument. The Company has strong and open relationships with stakeholders, including Ofgem, local government and schools, emergency services, MPs and national government. Long-term borrowings are mainly at fixed rates to provide certainty or are indexed to inflation to match the Group’s inflation-linked ‘RPI’ cash flows.
Objectives of the pilot were to understand: Legal opinion was obtained that a pension surplus could be recovered on wind up of the scheme and could therefore be recognised, along with associated liabilities. Details of commitments and contractual obligations are provided in notes 11, 12, 19 and 32 of the financial statements. Electricity North West is a leader in delivering the innovations which will enable the energy sector to help meet global and national climate change targets and we will continue to build on this successful record. Mark’s alternate was Andrew Truscott throughout the period.
In the consolidated cash flow statement and related notes, cash and cash equivalents includes cash at bank and in hand, deposits, other short-term highly liquid investments which are readily convertible into businesw amounts of cash and have a maturity of three months or less and which are subject to an insignificant risk of change in value.
Derivatives embedded in other financial instruments, or host contracts, are treated as separate derivatives when their risks and characteristics are not closely related to those of the host contracts and the host contracts are not measured at FVTPL.
Home Case studies Electricity North West. Above all, the safety of customers and of our colleagues and contractors remained our key concern. Talent management and succession planning is high on the agenda and six monthly review discussions have been structured to discuss and consider options for succession planning and focussed personal development plans to support succession activity.
In addition, the implementation of the ‘Open Doors’ programme contributes to the development of a diverse workforce, and continuing colleague engagement in recognition and innovation schemes. The Terms of Reference and the membership of each Committee were reviewed during the period to ensure their effective operation. The Company seeks to ensure that well trained people are able to operate safely within policy driven procedures backed by compliance, alongside a behavioural approach that seeks to ensure that all staff and contractors approach any task with a strong behavioural attitude to safety.
There is a long plan of future workforce requirements which takes into account how technology and innovation will impact upon the skills required within the business. The Company is dedicated to achieving the highest standards of environmental performance. This over recovery will be corrected through adjustments in pricing in two years, in accordance with Ofgem methodology.
The external auditor is engaged to express an opinion on the Company’s and Group’s financial statements. Corporate Governance Report The treasury function does not undertake any speculative trading activity and seeks to ensure that sufficient funding is available in line with policy and to maintain the agreed targeted headroom on key financial ratios.
Near miss reporting is actively encouraged to promote a safety culture.
Electricity North West Archives – Page 7 of 12 – Utility Week
Customers are increasingly worried by rising energy prices and we work hard to improve our efficiency and innovation to minimise our costs and therefore reduce customer bills. In addition, Directors were provided with updates throughout the year on other developments in the legal and regulatory area that could impact the Company.
The aim of Electricity North West is to put customers at the heart of everything the Company does. We also confirm we have not provided any of the prohibited non-audit services referred to in those standards.
In accordance with the provision of C. These sections and other sections of the annual report contain certain forward looking statements that are subject to factors associated with, amongst other matters, the economic and business circumstances occurring electriclty the region and country in which the Group operates.
Wesh programmes will help to ensure the long term reliability of the network. The Company recognises that the best results are obtained from highly motivated staff, and seeks to ensure constant improvement in the organisational ‘climate’, through improved communication and engagement with colleagues.
Our colleagues gave up their own Christmas preparations and worked alongside colleagues from our supply chain partners and from other Distribution Network Operators to mobilise the resources required to keep many pln our customers on supply and to restore power to those that lost power supplies. Onrth procurement process for this project is well advanced and the focus for development will be to enhance the digital customer journey for both network and connections customers.
The Board is responsible for the alignment of strategy and risk, and for maintaining a sound system of risk management and internal controls.
In each case a detailed role description was prepared following a review of the Board’s skills and experience and the needs of the Company. Therefore the amendments have no impact.
Electricity North West Limited Annual Financial Report – ADVFN
This performance has been driven by a consistent focus on the needs of our customers which are central to achieving our goal to be the leading energy delivery business. Recognising that the Company operates in a high hazard environment, Safety is the key goal.
The Company has embarked upon the ‘Open Doors’ programme, which provides focus on under-represented demographic groups. Going concern and the directors’ assessment of the principal risks that would threaten the solvency or vusiness of the group.
Electricity North West
Safety considerations are an integral part of the organisational structure with ownership and accountability integrated into every role. I leave you with some sadness but also with my very best wishes for a successful future. Where a Director was unable to attend a Board meeting, their views were canvassed by the Chairman prior to the meeting. Following the significant storm events that occurred electicity Decemberthe focus for the coming year is on a strategic programme of increasing network resilience during extreme weather events.