Performance Report 2004
Introduction
Vincent de Rivaz, Chief Executive
2004 was a significant year for EDF Energy. It was a year of continued consolidation following the integration of our businesses, of continued strong financial performance and of ever-increasing focus on our customers. It was a year of significant challenges in the form of highly volatile energy markets and negotiations with our regulator, Ofgem, affecting investment in our networks for the next five years. It was also a year in which we demonstrated our commitment to our wider stakeholders: we announced an expansion of our Warm Zone scheme to help low-income households in London and became the first Premier Partner of the London 2012 bid. At our West Burton station, we switched on the first of our flue gas desulphurisation facilities, which will reduce emissions of sulphur dioxide, the cause of acid rain, by 94%.
The Performance Report reflects on 2004 and outlines our plans for 2005.
The year ahead will present us with numerous challenges. We will need to deliver on challenges contained in the distribution price control review, which affects the investment in our networks until 2010. We must also operate wisely in the volatile energy markets we expect to see. We will conclude the restructuring of our metering business, which will come under the EDF Energy brand, allowing a higher level of face-to-face customer service. We will continue our efforts to care more for our customers, particularly the most vulnerable. Lastly, we will participate in the new EU Emissions Trading Scheme, which has the potential to become one of the most significant influences on the UK energy industry.
If we are to meet our amibitions, everyone across EDF Energy must work together to realise their own potential and to do whatever they can to improve the performance of the company. During 2004, we started a programme of workshops exploring the culture and structures within EDF Energy that are to be an essential part of achieving this. Words often used to describe what we aim to be were 'efficient', 'effective', 'engaged', empowered', 'energising', 'enlightened' and 'ethical'. So we have called this concept 'e' factor and it is at the heart of what we hope to achieve in the years ahead. The 'e' factor is key to improving our processes and delivering our ambitions.
EDF Energy plc Annual Report and Financial Statement 31 December 2004 [PDF]