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Verve Energy First Anniversary
Release Date: 03 April 2007
Plant reliability, financial performance and climate change are some of the biggest challenges facing Verve Energy, according to acting Chief Executive Ken Bowron.
Speaking on Verve Energy’s first anniversary, Mr Bowron said: “Community attitudes and expectations are changing and we will change with them. Verve Energy will improve its environmental performance and work towards carbon neutrality.
“While our commitment is genuine, our strategies to improve our environmental performance will take time to show results.
“With our diversity of generation options – coal, gas, liquids and renewables – Verve Energy is better placed than many other generating utilities to move with the times.”
Verve Energy is shutting down old inefficient generators; improving efficiency of its power stations; pursuing renewable electricity projects such as wind farms, wind-diesel and biomass; supporting the introduction of a carbon trading regime and sponsoring clean coal technology research.
Mr Bowron said that while Verve Energy welcomed the competition of the electricity market and the freedom to concentrate on getting its generation right, the first 12 months as a stand-alone electricity generation business had been challenging.
“No longer are our power stations part of a bigger, vertically integrated electricity conglomerate. As Verve Energy, the company has been able to focus on improving reliability and concentrating on our core business of electricity generation.
“Our plant reliability was poor for the first 8 months but we passed with flying colours during the past summer and we will consolidate our improved reliability performance at power stations over the next few years with targeted upgrades,” Mr Bowron said.
“Unfortunately, our financial performance suffered due to the reliability issues and gas supply problems until the Dampier – Bunbury pipeline upgrade in December 2006. Our position has stabilized and will receive persistent attention.
“The future will be challenging. Nevertheless we will pursue new business opportunities that arise, especially as we participate in the new Wholesale Electricity Market, to improve our revenue.”
Mr Bowron said everyone at Verve Energy was determined to continually improve in the next 12 months and further out to five years and beyond.
“That’s where our strategies are heading.
“One thing is for sure, life in the electricity generation business will never be the same and we are looking forward to being part of that transformation.”
Any queries from the media are directed to Verve Energy's Corporate Relations branch.
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