The Stakeholder Advisory Panel meets with the EDF Energy Executive Team quarterly to offer strategic counsel and expert guidance on the overall approach of the business.
We believe it is vital to maintain a transparent and open dialogue with our stakeholders. This goes right to the heart of our determination to be a leader in sustainability and a point of reference in our sector in the UK. In 2006, we set up a Stakeholder Advisory Panel to help our Chief Executive and our Executive Team discuss key strategic issues for our business with a range of expert independent advisors. We use the panel members to:
• Challenge the development of our strategy, and business approach;
• Support the development of our position as a point of reference on key topics; and
• Act as advocates on the company’s behalf.
The Panel meets quarterly but we also engage members on an ad-hoc basis. The Panel does not have legal or fiduciary responsibilities and any actions proposed are subject to the normal governance process of the company. Since 2006 the Panel has played a major role in shaping our sustainability strategy with members actively participating in the launch of Our Sustainability Commitments and the development of our Better Energy Ambitions. In doing so, they have helped draw up a range of ambitions specifically designed to improve the transparency of our operations and improve the sustainability of our business across energy generation and customer services.
Our Panel Members
The Panel has five externally appointed members from backgrounds including commercial, political and not-for-profit sectors. The Panel is chaired by Sir Richard Lambert , former Chancellor of Warwick University and former Director General of the CBI. He took over from Will Hutton, Principal of Hertford College, Oxford, in November 2013. Will Hutton, who held the role for seven years, continues to provide independent advice to the company.
Other Panel members are:
• Lord Patten of Barnes, Former Chair of the BBC Trust and the former Governor of Hong Kong;
• Sir Simon Robertson, Former Non-Executive Deputy Chairman, HSBC Holdings and Former Chairman of Rolls Royce;
• Diane Coyle OBE, Former Vice-Chair of the BBC Trust and Professor of Economics, Manchester University;
• Dame Helen Alexander, Chairman of UBM plc, non-executive director of Huawei UK, senior adviser to Bain Capital and a member of PwC’s Public Interest Body, and Deputy Chair of the Hampton-Alexander Review.
Throughout 2015 the Stakeholder Advisory Panel has played an important role in offering strategic advice and direction to EDF Energy. We have seen considerable focus on the industry from the public and politicians, particularly over the issues of costs for consumers. The next 12 months will bring critical developments in the company’s energy ambitions.
EDF Energy's Better Energy Ambitions Report for 2015 sets out the ways in which EDF Energy is fulfilling its long-term commitments on safety, sustainability, environmental impact and supporting customers. The story is one of progress on most fronts over the past 12 months, and of big challenges and opportunities in the future.
The next 12 months will provide challenges and opportunities as EDF Energy moves forward on its long-term path. The Stakeholder Panel will be taking a particular interest in the final investment decision on Hinkley Point C and the development of the first products from the company’s Blue Lab customer innovation platform. It is also looking forward to discussion on major events, including the final report from the Competition and Markets Authority (CMA) as it concludes its investigation into the nation’s energy supply, and the implications for the energy industry of the forthcoming referendum on the UK’s membership of the European Union.
- Sir Richard Lambert, Chair, EDF Energy Stakeholder Panel