ESB Annual Report 2012 - (Page 38)

38 ESB Annual Report 2012 - Energy for connecting you ESB INNOVATION The challenges and opportunities presented by energy policy objectives to achieve decarbonised, sustainable and secure energy, call for new technologies, renewable resources and smart grids. ESB, as it has done over many years, is continuing to develop new technical and business solutions across the clean technology sector. The opportunities and issues arising apply right across ESB but it is recognized that the pace and breath of developments require co-ordination and focused investment. A separate dedicated business area, ESB Innovation, has been established to provide that co-ordination and strategic focus. The core purpose of ESB Innovation is to lead collaboration across the ESB Group, to identify and develop emerging technologies as commercial business opportunities, for ESB (and for external clients). ESB Innovation will leverage resources, sectoral insights and smart technology programmes across the ESB Group, to maximise returns from existing businesses and support the developments of new business opportunities. ESB Innovation groups together a number of businesses that are focused on taking assets and insight within ESB and using those to develop new opportunities. ESB INTERNATIONAL ESB International (ESBI) has a proud tradition of providing solutions to customers around the world and, as the centre of engineering excellence for ESB Group, plays a leading role in the delivery of the overall group strategy through its support in the delivery of new networks and generation projects. New and emergent technologies are continually monitored and evaluated to determine where they can best be deployed to meet ESB’s needs. ESBI has been actively growing its external business and has targeted key markets and clients in Europe, Middle East, Africa and Asia for further growth over the coming years. The range of services offered include the full spectrum of engineering solutions currently provided to the power sector, supplemented by consultancy services from other sustainable, innovative businesses developed in ESB, e.g. Electric Vehicles, Ocean Energy and Smart Grid technologies. TELECOMS ESB Telecom’s fibre-optic network forms a key part of the national telecommunications infrastructure, enabling broadband connectivity for businesses and consumers. This was significantly expanded in 2012, with the completion of a subsea fibre-optic cable directly linking Irish business to major UK cities. This fixed network is augmented by one of the largest networks of independent mobile tower sites in the country, allowing our customers to support the growing demand for services delivered over mobile devices and smartphones. €200 The next stage in the evolution of the telecoms offering will come with the recently announced Fibre to the Building initiative which has the potential to act as a major technology enabler for businesses and consumers right across the country. MILLION THE NOVUSMODUS FUND IS ONE OF THE LARGEST CLEAN TECH FUNDS IN EUROPE. ELECTRIC VEHICLES ESB ecars is on track to having one of the most advanced electric vehicle infrastructures anywhere in Europe. The programme has reached a milestone target in December 2012 with more than 1,150 installed charge points, 500 of which are public, 550 domestic/commercial and 30 fast-charge points. In addition, ESB ecars is, in conjunction with major international partners, developing the business models and systems to support a commercial ecar platform. The international interest in the work being done here was reflected during 2012 in the hosting by ESB ecars of an International Electric Vehicle conference in Dublin with more than 260 delegates and speakers from Europe, US, Japan and China. OCEAN ENERGY Our Ocean Energy team continues to support a range of initiatives in this new and potentially transformative sector through its involvement in demonstration projects such as WestWave and support of R&D for the advancement of relevant technology. Ocean Energy on behalf of ESB also advocates the advantages of wave energy for Ireland at events such as the International Conference on Ocean Energy, held in Dublin in 2012. NOVUSMODUS ESB has recognised for some time that the new solutions in technology and business models will drive changes in how power is generated, delivered and consumed will come from a variety of sources – some of whom have no current connection to the energy sector. The ESB Novusmodus fund was set up to invest in the renewable energy and energy efficiency sectors, and with a fund of €200 million is one of the largest clean tech funds in Europe. This fund builds on the engineering expertise within ESB to evaluate and identify the most credible investments and support them through the delivery of their business plans – delivering both financial returns for ESB and increasing awareness within ESB of the new solutions being developed to meet the energy sector’s challenges. Through all of these businesses ESB Innovation will deliver novel technologies and approaches to be applied across ESB while also ensuring that the financial returns are appropriate to sustain this investment.

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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