ESB Annual Report 2012 - (Page 32)

32 ESB Annual Report 2012 - Energy for connecting you ELECTRIC IRELAND ELECTRIC IRELANDIS THE RETAIL ARMOF ESB, SUPPLYING COMPETITIVE ELECTRICITY, GAS AND ENERGY SERVICES TO ALL MARKET SEGMENTS. Electric Ireland, launched in 2011, is the new brand for ESB supply and energy services activities. OPERATING ENVIRONMENT The Republic of Ireland experienced the EU’s highest level of residential customer switching between suppliers in 2009 and 2010. The ending of electricity supply tariff regulation by the CER in April 2011 represented a significant milestone for ESB and allowed Electric Ireland to operate on a commercial basis in the competitive market. With the entry of Electric Ireland into the competitive electricity and gas markets, competition intensified throughout 2011 and 2012, offering customers a choice of suppliers and competitive price plans. Electric Ireland has been competing effectively in the residential and business markets with competitively priced products with over 200,000 residential electricity customers returning to Electric Ireland in the last two years. Electric Ireland has also won over 80,000 residential gas customers since our entry into the residential gas market in April 2011. Aggressive levels of competition in the market and the economic downturn have presented significant challenges for the business in terms of debt management. STRATEGIC AIMS AND RESPONSE TO CHANGE Electric Ireland’s strategic objective is to be the foremost supplier of energy and related services in the Irish market offering competitive and sustainable energy solutions. This will be achieved by providing excellent customer service and delivering products and services that meet customer needs and provide value for money. During 2012, significant progress has been made, including; „ competing effectively in the open residential and business markets with competitively priced products „ launching and developing new product offerings, including gas and Home Services „ continuing to provide excellent customer service „ maintaining our focus on cost improvement to ensure Electric Ireland has a competitive and flexible cost base „ promoting awareness of the Electric Ireland supply business following rebranding „ continuing to work proactively and sympathetically with customers to manage debt repayment in the current economic climate. CUSTOMERS In a continuing drive to retain and win back residential customers, Electric Ireland successfully launched and developed new product offerings. These included competitive electricity price plans and building market share in the residential gas market. The residential electricity marketing and sales campaign has been very successful with customer losses reduced from an average of circa 24,000 per month in 2010, to net growth in customers since April 2011 and strong awareness of the Electric Ireland supply business. By the Electric Ireland continued to prioritise quality customer service and customer satisfaction remained high throughout 2012. This was reflected in the results of the annual energy retail market consumer survey published by the CER in July 2012, which found that Electric Ireland residential customers had the highest overall customer satisfaction with their supplier, amongst all major energy suppliers in the Irish market. This survey also found that customers in Ireland are satisfied with the service and level of competition in the competitive retail marketplace. In 2012 Electric Ireland’s Customer Contact end of 2012, Electric Ireland had 1.3 million residential electricity customers and 80,000 dual fuel customers, with over 100,000 residential electricity customers switching to Electric Ireland in 2012 from competing suppliers. During 2012, Electric Ireland also launched further price plans for the business market, primarily targeted at the small business sector. Despite significantly increased competition, Electric Ireland continues to maintain its strong presence in the large business market sector in the RoI and NI markets. This market segment consists of predominantly high load factor customers to whom we provide tailored customer service, supported by a range of energy efficiency solutions. In addition to competitive electricity price offerings, Electric Ireland has increased sales of energy efficiency measures through our Home Services offerings. A full installation service including home insulation, gas boiler servicing and upgrades, heat pumps, solar panels, and BER certification is provided. A major urban refurbishment project of 500 homes has been completed in conjunction with Dundalk Town Council and the Sustainable Energy Authority of Ireland (SEAI). 2012 also saw the introduction of new product lines including oil boiler servicing, boiler product cover, a new remote heating control device (Climote) for the domestic home market and new energy services for the business market.

Table of Contents for the Digital Edition of ESB Annual Report 2012

ESB Annual Report 2012
Contents
Business Overview
Chairman’s Statement
Chief Executive Review
Our Strategy and Business Model
Operating and Financial Review
Operating Environment
Finance Review
Business Unit Sections: ESB Generation and Wholesale Markets
ESB Networks
NIE
Electric Ireland
Corporate Social Responsibility
Introduction from Executive Director, People and Sustainability
Sustainability Charter
Energy Usage 2012
ESB Innovation
Equality and Diversity
Our People
Our Community
Corporate Governance
Chairman’s Corporate Governance Statement
The Board
Executive Team
Board Members’ Report
Risk Management Report
Statement of Board Members’ Responsibilities
Independant auditor’s report to the stockholders of Electricity Supply Board (ESB)
Statement of Accounting Policies
Financial statements
Prompt Payments Act

ESB Annual Report 2012

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