EM - February/March 2015 - (Page 1)

ESB TREE WEEK THE NEWSPAPER FOR ESB Feb/March 2015 www.esb.ie/em PAGE 7 News Innovation Generation & Wholesale Markets BSC & Electric Ireland ESB Networks Ltd PAGE 02 PAGE 11 PAGE 15 PAGE 19 PAGE 23 New report Top stories in brief highlights economic 2014 Sustainability Awards contribution of ESB'S 5TH Annual Awards Irish energy sector Sustainabilitywith ESBtook place in December, e-cars Pictured at a presentation of Archival Papers to ESB at a recent event in ESB's Number 29 Georgian House Museum are ESB Chairman, Lochlann Quinn, President Michael D. Higgins, Mrs. Ellen Feeney (who presented the papers on behalf of her late husband Andy) and ESB Chief Executive, Pat O'Doherty. ESB GROUP TREASURY WINS INTERNATIONAL AWARD ESB GROUP TREASURY has been awarded Corporate Treasury of the Year by the Internationally renowned Risk Magazine. This award recognises the risk management and reﬁnancing work completed by ESB during the year, and in particular, the successful restructuring of the highly complex RPI Swap Derivatives, which were acquired as part of the NIE acquisition. ESB works with fourteen international investment banks on a range of activities from funding in the ﬁnancial markets to hedging risk in interest rates and foreign exchange. Risk Magazine, in making the award, noted how successfully ESB manages its banking relationships, which was evident in bringing fourteen individual banks through such a complex transaction. Previous winners include Microsoft (USA), BMW (Germany), Google (USA), Tesco (UK) and Rolls-Royce (UK). The award ceremony took place in London at the end of January 2015, with the award being presented to Cathal Marley, ESB Group Treasurer, and Colm Moriarty, Group Funding Manager, who were repre- senting ESB at the event. ESB is the ﬁrst Irish winner of this award. Cathal Marley, ESB Group Treasurer, said: "The award is great recognition, not only for ESB Group Treasury, but also for our colleagues in NIE and the Legal and Taxation teams within ESB Group, all of whom worked with great expertise to deliver the successful RPI Swap deal. This deal supports the future liquidity position of the company and reﬂects the ongoing excellence in ﬁnancial management which is evident across ESB". See page 3. n A NEW REPORT by Ernst & Young, commissioned by the Electricity Association of Ireland, highlights the massive contribution that the energy sector makes to Ireland's economy. The report, entitled 'Powering the Economy' ﬁnds that the energy sector contributed €5.4bn to the all-island economy in 2013, €2.8bn directly with an additional €2.6bn generated elsewhere in the economy. It also found that in 2013 the energy sector: * Contributed €725m to tax revenue in ROI and NI * Employed 47,600 people, equivalent to one in every 55 jobs in NI and ROI combined * Invested €1.3bn in generation, networks, supply and energy efﬁciency, exceeding the investment in roads and public transport * Ranked in the top 20 among 151 countries based on the quality of electricity supply, ahead of Sweden, Germany, Italy, Spain and the USA. The Minister for Communications, Energy and Natural Resources, Alex White TD spoke at the launch of the report. He noted the importance of a high-quality electricity supply for attracting foreign direct investment and acknowledged the need for a stable political and regulatory environment to support future investment. n For further information, see www.ey.com/IE/en/ Industries/Power---Utilities/EY-future-energy" \o or see bcove.me/abcyucrz for a short video announced as the overall winner. President visits No. 29 President Michael D Higgins was the guest of honour at a recent event in Number 29, where the ESB Chairman accepted archive papers on the history of the ESB Linesmen Association. New intranet site launched A new intranet site has been launched by the ESB legal department. Available to all staff, it contains up-to-date information about ESB's in-house legal function and includes information about its practice areas and staff. ESB International celebrates This year will mark ESB's 40th year in International Business, winning awards for their customer service and spanning 120 different countries. Major contract signed A major new contract has been signed between ESB International and the Electricity & Water Authority of Bahrain. Asset Management Conference G&WM recently held its annual Asset Management Conference, which was attended by almost 70 members of the G&WM staff and discussed topics such as risks, performance and costs associated with the management of assets. Powering Kindness We look at the huge success of Electric Ireland's Powering Kindness campaign, which raised thousands for Childline, the Marie Keating foundation and the Irish Heart Foundation. ESB Networks receives grant ESB Networks is to receive a €1.3m grant from the European Commission's Horizon 2020 fund. Issn no. 0790-7508 8 Powering the Economy report highlights economic contribution of Irish energy sector http://www.esb.ie/em http://www.ey.com/IE/en/Industries/Power---Utilities/EY-future-energy"\o http://www.ey.com/IE/en/Industries/Power---Utilities/EY-future-energy"\o http://www.ey.com/IE/en/Industries/Power---Utilities/EY-future-energy"\o http://bcove.me/abcyucrz

Table of Contents for the Digital Edition of EM - February/March 2015

News
Innovation
Generation & Wholesale Markets
BSC & Electric Ireland
EBS Networks Ltd
Health & Habitat

EM - February/March 2015