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Power Transformed FY2019 Annual Review
1
As manager and operator of the NSW high voltage electricity network for the last 60 years, it is our responsibility to keep you and your way of life connected 24/7.
ContentsFY19 highlights �����������������������������������������������������������������������������4
Chairman’s message �������������������������������������������������������������������6
CEO’s report ���������������������������������������������������������������������������������8
Who we are
Our role ��������������������������������������������������������������������������������10
Our story ������������������������������������������������������������������������������12
Efficiency
Our strategy �������������������������������������������������������������������������14
Improving consumer outcomes ���������������������������������������16
Innovatingtodeliverefficiencies �������������������������������������18
Affordability
Deliveringaffordableenergy ��������������������������������������������20
Reliability
Maintainingareliabletransmissionnetwork for the future ���������������������������������������������������������������������� 22
Sustainability
Managing our environmental impact �����������������������������26
Investing in our people ����������������������������������������������������� 30
Safety
Asaferplacetowork �������������������������������������������������������� 34
Connection
Renewableenergyconnections ��������������������������������������36
Telecommunications connections �����������������������������������42
Collaboration
Engagingwiththecommunity����������������������������������������� 44
Board of Directors and Executive Team ������������������������������ 48
Keyindicatorreview ����������������������������������������������������������������� 54
Keyfinancialindicators �������������������������������������������������������������55
2 3
Non-prescribed assetbase:
$509m Launched and embedded our first
FY19 highlights
$892.6million revenue
Achieved capital expenditure savings of $14 million
Total contracted renewable energy:
4.2GW
Prescribedasset base: $6.45bn
Prescribedcapitalexpenditure invested in the network
$209.4m
Signed the Energy Charter
Achieved
99.9999% network reliability
Lowered prices for energy consumers (1.1c per kW/h) with electricity transmission costs comprising
3-5% of an average bill
Asaferplacetowork:0.8 employee lost time injury frequency rate
Asset management:zero major non-conformances in FY19
Explored innovation initiatives including the use of
‘Smart Wires’ technology, batteries and drones
Employed 13 new graduates
and 7 new apprentices
Donated $160,000
to local communities through our corporate giving and community partnerships programs
Gender diversity
Reconciliation Action Plan
4 5
TransGrid
Annual Review
FY19FY19 high
lightsC
hairman
’s m
essageC
EO’s
reportW
ho w
e areEffi
ciencyA
ffordability
ReliabilitySustainability
SafetyConnection
Collaboration
Chairman’s messageThe last financial year was one of great transition in the National Energy Market (NEM). An additional 1,472MW of renewable energy was joined to the grid, including 492MW connected by TransGrid.
ItwasalsoanelectionyearinNSWandnationally,wherepublicdebatewasfocusedonenergyandemissionspolicyandwheretherewascontinuinguncertaintyonpolicyanddecisionmakingaffectingtheenergysector.
Againstthisbackdropofchange,TransGridhasadaptedandacceleratedits strategyandwehavecontinuedtodeliversafe,reliablepowerto consumersatthelowestpossiblecost.
AsChairman,IcanreportthatTransGridisprogressingwellonthesemeasuresanddeliveredimprovementsinthecostefficiencyof energydelivered,thecosttomeetpeakdemand,andthecostperconsumerserved.One inthreeAustraliansrelyonTransGridto transfer electricity to their homes and businesses atall times.
“Against this backdrop of change, TransGrid has adapted and accelerated its strategy and we have continued to deliver safe, reliable power to consumers at the lowest possible cost.”
Overthepastyear,wehavecontinuedtoengagewithstateandfederalgovernments,andfollowingtheNSWandnationalelections,participated in policy development to help shape outcomeswhichputcustomersfirst.We arekeentoworkwithgovernments,
and supportpoliciesanddecisionswhichdeliverthebestoutcomesonenergyreliabilityandprice.TransGridwilldelivertheessentialtransmissionprojectsthatneedtobebuiltinNSWtosupporthouseholds,businessesandthecommunity.
In addition to delivering essential infrastructure andservices,weareimprovingourcustomerfocus.Earlierthisyear,webecameafoundationmemberoftheEnergyCharterandcommittedtoreportingonwhatourbusinessdoestodelivermore value for customers� Our disclosure report willoutlinehowwedeliveronourcommitmenttoputdownwardpressureonenergycosts,andonhowwedeliversocialandcommunitybenefits.
Wearecontinuingtodelivervaluetoconsumersand our price for service has decreased consecutively over the last three regulatory periods.InthecurrentperiodendingJune2023,ourpricesaredownbymorethanfivepercenton the previous regulatory period� All of this confirmsthatTransGridistrackingwellonourcommitment to deliver for consumers and doing thisatatimeofsignificantchangeandtransitionacross the NEM�
Fortheforeseeablefuture,theenergysectorwillbefocusedonloweringelectricitybillsforhouseholdsandbusinesses.TransGridwillbeequally focused on meeting consumer demand forsafe,reliableand affordableelectricity.
Jerry Maycock Chairman
492MW connected
6
TransGrid
Annual Review
FY19
7
FY19 highlights
Chairman
’s m
essageC
EO’s
reportW
ho w
e areEffi
ciencyA
ffordability
ReliabilitySustainability
SafetyConnection
Collaboration
CEO’s reportThe 2019 financial year was exceptional for TransGrid, as we continued to provide affordable, safe and reliable transmission services to consumers.
Overthepast12months,weachievedareductioninenergycosts,deliveredgreaterefficienciesandimprovedournetworkreliability.Businessrevenuesurpassedourtargetby$26.7mandwedelivereda$14mcapitalexpendituresaving–whichwasreinvestedtodeliverfurtherbenefitsfor consumers.
Ourpurposeistobuilda betterpowersystem in Australiatomeetthedemandsof the changingenergylandscape.
Tofulfilthispurpose,wehavetakenaleadingrole in shaping the future of the National Energy Market(NEM).Earlierthisyear,we signedtheEnergyCharterwhichoutlinesfivekeyprinciplesthatwillsetabenchmarkforimprovingserviceforconsumers.Wearededicatedtostrengtheningourengagementwithconsumersandwelookforwardtoplaying ourparttotransformtheindustryfor thebetter.
Overthelastyear,wecontinuedtoplanfourmajortransmissionprojectsrecommendedbytheAustralianEnergyMarketOperator(AEMO)inthe2018IntegratedSystemPlan(ISP).Ifapprovedbytheregulators,theseprojectswilldeliverlowerenergypricesforconsumersandstrengthennetworktransfercapacitytosupportthegrowingdemandforelectricity.We alsomadesignificantprogresswithplanningthePoweringSydney’sFutureproject,whichwillsecurethereliablesupplyof electricitytoSydney’sCBD,andconstructingStockdillSubstation,whichwillprovideasecondpowersupplyfortheACT.
FollowingtheestablishmentofTransGridServicesTrust(TGS)inthelastfinancialyear,wehavealsoconnectedourcustomerstomorelow-costrenewableenergyandtotelecommunications
services.TGShasbeenoneofourgrowthdriversand represents almost half of our annual capital program.We haveincreasedsolarandwindconnectionswithmorethan4GWconnectedinthelastyearand,asdemandfordatacontinuestogrow,ourtelecommunicationsbusinesshasexpanded substantially.
“Our purpose is to build a better power system in Australia to meet the demands of the changing energy landscape.”
OverFY19,wedidmoretocreateadiverseandinclusiveworkplace.ApersonalhighlightformewasthelaunchofourfirstReconciliationActionPlan(RAP),whichoutlinesourcommitmenttoimprovingrelationshipswithAboriginalandTorresStraitIslanderpeoples.WewillcontinuetobuilduponourprogressaswedevelopournextRAP,scheduledforlaunchinFY20.Iamalsoproudofourexemplarysafetyrecord,whichremainsourhighestpriority,andofoureffortsto minimise the environmental impact of our operations.Weremaincommittedtoensuringwemeetourregulatoryobligations,whichunderpinour license to operate�
IlookforwardtoworkingwiththeBoard,theexecutive team and our people over the coming yearaswecontinuetodrivepositivechange,notonlywithinTransGridbutalsowithintheenergyindustry,andaswedeliversustainablebenefitsandlowercostsfor consumers.
$14 millioncapital expenditure saving
Paul Italiano Chief Executive Officer
9
TransGrid
Annual Review
FY19FY19 highlights
Chairm
an’s
message
CEO’s
reportW
ho w
e areEffi
ciencyA
ffordability
ReliabilitySustainability
SafetyConnection
Collaboration
8
Who we are
Our roleTransGrid operates and manages the high voltage electricity transmission network in NSW and the ACT. We offer a range of infrastructure and telecommunications services to meet the growing needs and expectations of our customers.
OurnetworkconnectsNSWtoQueenslandandVictoria,andformsthebackboneoftheNationalEnergyMarket(NEM).Itconsistsof106bulk-supplysubstationsandover13,000kilometresofhighvoltagetransmissionlines,undergroundcablesandinterconnections.Weconnectmorethanthree
millionhomesandbusinessestoanelectricitysupply,andprovidetheplatformonwhichenergyistradedwithinNSWandtheACT.Thisallowsenergyconsumerstogainaccessto thelowestcostgenerationavailable.
10 11
TransGrid
Annual Review
FY19FY19 highlights
Chairm
an’s
message
CEO
’s report
Wh
o w
e areEffi
ciencyA
ffordability
ReliabilitySustainability
SafetyConnection
Collaboration
1950s
The Electricity CommissionofNewSouthWaleswasformed on 22 May 1950 as the statutory bodyresponsiblefor the generation of electricity and its bulktransmissionthroughoutNSW.This centralised the coordination of the state’s electricity generation and supply�
1950s – 1960s
Duringthisperiod,the Commission more thantrebledits powercapacityfrom490MWto1800MW.
Early 1990s
The Australian Governmentbeganto deregulate state ownedmonopoliestopromotecompetition,consumer choice and potentially cheaper electricity�
1992
TheNSWElectricityCommission adopted the trading name PacificPower.
1995
As deregulation continued,thehighvoltage electricity transmission networkassetswereseparated from PacificPowertoformaneworganisationon1February1995:TransGrid.Thepowerstationsweredividedtoformtwonewcompanies– Delta Electricity and Macquarie Generation(bothlater sold to Energy AustraliaandAGLrespectively).
1998
The NEM started to operate� The Council of Australian Governments(COAG)setupthreemarketbodiestooversee the nation’s energymarkets.
2005
The Australian Energy Regulator (AER)andtheAustralian Energy MarketCommission(AEMC)wereestablished.
2009
AEMO wascreatedtotakeresponsibilityforgas and electricity marketoperations.
2015
A consortium,NSWElectricityNetworks,successfullybid$10.3billionfora 99-year lease ofTransGrid’stransmission network.
2018
TGSwasestablishedto provide connections forrenewablegeneration,telecommunications and other contestableservicesfor our customers�
Our storyWe have a long history in the energy sector, starting with the establishment of the Electricity Commission of NSW in the 1950s to the inception of TransGrid in 1995. In 2015, TransGrid became a private company when the NSW Government granted NSW Electricity Networks a 99-year lease over the NSW transmission network.
13
TransGrid
Annual Review
FY19FY19 highlights
Chairm
an’s
message
CEO
’s report
Wh
o w
e areEffi
ciencyA
ffordability
ReliabilitySustainability
SafetyConnection
Collaboration
12
Seek new innovations and technologiesSeeknewtechnologies,waysofworkingandutilisingtechnology developments in the energy sector to drive growthopportunities.
Invest in transmission to support the energy transitionPursuenewtransmissionprojects,includinginterconnectors,renewableenergyzoneaugmentationsandlinkswithinandoutsideNSW.
Grow our infrastructure and services businessCapitaliseontheopportunitiesthatalignwithourcompetitiveadvantage,includinggeneratorconnectionsand telecommunications�
Create an efficient, high performing businessTransformTransGridtobefitforthefuturetomakeour businesssafer,simplerandsmarter.
Deliver safe, reliable power Maintainhighstandardsofsystemreliabilityfor thebenefitofenergyconsumersandsafetyforourworkforceandthegeneralpublic.
Advocate for the energy system and policy environment of the futureDeployourengineering,regulatoryandpolicyexpertisetoadvocateforasustainableenergyfuture.
Efficiency
Our strategyAt TransGrid, our fundamental goal is to create value for our customers and the broader community by providing affordable, safe and reliable transmission services.
Safety
Efficiency
Consumer
Business
Future
Technology
TransGrid
Annual Review
FY19
15
FY19 highlights
Chairm
an’s
message
CEO
’s report
Who
we are
Efficien
cyA
ffordability
ReliabilitySustainability
SafetyConnection
Collaboration
14
Efficiency
Improving consumer outcomesTransGrid is embracing and driving change in the energy sector. We are responding to the economic, social and technological requirements of energy consumers now and in the future.
Everyday,millionsofresidentialandbusinesselectricityconsumersinNSWdependonourtransmissionservicesforareliablesourceofelectricity.Overthepastfiveyears,energy consumption has continued to increase as population growth,housingdevelopment,economicactivityandnewinfrastructuredrivedemand.Overthesametime,theenergylandscapehasevolvedrapidly.Coal-fired powerstations willprogressivelyretireand,overthenextdecade,windandsolarpowerwillplayamoreprominentroleindeliveringlow-costelectricity to consumers�
Asdemandforenergygrowsandgenerationtransitionstoincludemorerenewables,ourpowersystemisbecomingincreasinglycongested.Tomaintainreliability,transmissionnetworkproviderslikeTransGridneedtoincreasenetworkcapacitysothatlowcostrenewablegeneration canreachthemajorload centresandadditionalenergycanbetransferredwithin andbetweenstates.
Supporting energy transitionTransmissionplaysapivotalroleinthetransitionof theenergymarket.AstheoperatorandmanageroftheNSWhighvoltagenetwork,TransGridisleadingthetransitionand workingwithconsumersandstakeholderstoinnovateandadapttothechangingenvironment,sothatwecontinuetoprovidevaluetoourcustomers,communityand stakeholders.
TomaintainreliabilityacrosstheNEM,andtoensureconsumershaveaccesstoasafe,lowercostelectricitysupply,strategicinvestmentintransmissionnetworkswillberequiredsothatelectricitycanbetransferredwithinand betweenmarkets.Ourbusinessstrategyfocusesonsixkeythemeswhichwillallowusto meettheneedsofconsumersnowandinthe future.
Responsibly connecting with our stakeholdersOurstakeholderengagementbody,theTransGridAdvisory Council(TAC),connectsuswithconsumerandindustryrepresentativesandfacilitatesregular,essentialtwo-waycommunication.TheTACprovidesuswithaforum to meetwithstakeholders,toheartheir
perspectives andtoconsidertheirviewsonthe fullrange of energysectorissues.
InFY19,weheldquarterlymeetingswiththeTAC,and gainedimportantinsightsintohowourelectricitytransmissionbusinesscanprovidemorevaluetoconsumers� Key topics for consultation over the year includedourISPsubmissiontoAEMO,whichwaspublishedinJuly2018,andoursubmissiontoAEMOonthe CoordinationofGenerationandTransmissionInvestment(COGATI).InsightsfromTAC membersalsohelpedtoinformtheactionswewilltake tomeet ourobligationsundertheEnergyCharter.
A proud supporter of the Energy Charter We are working to change the way we do business so that we can deliver better outcomes for energy consumers.
» InFY19,TransGridwasoneofthefirstsignatoriesoftheEnergyCharterwhichaimstodrivecultural changethroughoutthe industry.
» BysigningtheEnergyCharter,wearecommittingTransGrid’sentireworkforcetodeliveringcontinual serviceimprovementandaddedvalue to consumers.
» Inrecentmonths,wehavebeenreflectingonourcurrentbusinesspracticesandhowtheymeasureup againstthefiveEnergyCharterprinciples.
» Wehavecommittedtopubliclyreportingontheseprinciplesby30September2019.Ourfirstdisclosurereportwillcreateabaseforusto buildonandensureallourfuturedecisionsandprocessesaredrivenbythebestinterestsof consumers.
16
TransGrid
Annual Review
FY19
17
FY19 highlights
Chairm
an’s
message
CEO
’s report
Who
we are
Efficien
cyA
ffordability
ReliabilitySustainability
SafetyConnection
Collaboration
Efficiency
Innovating to deliver efficienciesIn FY19, we appointed our first Head of Innovation, established our innovation program, and accelerated investigation of the use of emerging technologies that will allow more efficient network management and help to deliver savings for consumers.Ourinnovationinitiativesincluded:examiningtheuseof‘SmartWires’technologyasanalternativetoline-upgrades,andconductingtrialswithWoolworths,theUniversityofNSW,andtheCityofSydneyCouncilontheuseofinstalledbatteriesfornetworksupport.Wealsostartedtotrialtheuseofdrones
for the aerial conductor stringing of transmission linesasbothaninnovationandasafetyinitiative(seecasestudyonpage18).ThiswillcontinuetosupportourgoalofdevelopingleadingedgeworkmethodsandtechnologiesinTransGrid’stransmissionline construction.
Innovating to improve safety at TransGridAprototypeapp,whichcanbeinstalledonanysmartwatch,monitorsafieldworker’sheartrateandmovement,andnoticesiftherearechangesinmovement or heart rate that could indicate something is wrong.
Whentheappidentifiestheusermayneedhelp,itasks iftheyareokay.Ifthewearerindicatestheyarenotokay,ortheydonotrespond,thewatchwillalerttheirlinemanager,controlroomortheemergencyservices.
Datacollectedviatheprototypewillinformfurtherresearch and future investigations into the use of wearabletechnologyatTransGrid.
Developing conductor stringing capability using dronesTransGrid is trialling the use of Unmanned Aerial Vehicles (UAVs), also known as drones, for the aerial conductor stringing of transmission lines.
» Thecapabilitywasdevelopedaspartofamissiontoeradicateriskfortheteamswhocarryoutthisactivity.Todevelopourapproach,wepartneredwithadronetechnologyspecialisttomodifyanindustrystandarddrone.Thisallowedustoaccommodateawinchandaquickreleasemechanismforthedrawwire.
» OurfirsttrialstookplaceinJune2019,withthedronesuccessfullypulling650mofdrawwirefully suspendedabovetheground.Duringfurtherfieldtrialsa2kmsectionof132kVtransmissionlinewassuccessfullystrungusingadroneasa part of the Clarence Correctional Centre transmissionlineprojectnearGrafton.Work intothe procurement of a higher capacity drone anddevelopmentofcustomgroundwinchingequipmentisongoingwith thegoalofproducinga commerciallyviableproductforindustry.
TransGrid
Annual Review
FY19
18 19
FY19 highlights
Chairm
an’s
message
CEO
’s report
Who
we are
Efficien
cyA
ffordability
ReliabilitySustainability
SafetyConnection
Collaboration
Affordability
Delivering affordable energyWe know that energy affordability is a priority for consumers and we are committed to delivering electricity at the lowest possible cost. Wedothisbyoperatingefficiently,investingprudentlyinnewinfrastructureandmaintenance,andbyplanningthefuture grid�
Overthepast12months,wecontinuedtoexplorewaystoreducethepriceofelectricitytransmissionbyloweringoverheads,modernisingournetworkandinvestingintransmissionservicesthatwilldeliverlong-termsavingsforconsumers.InFY19,energytransmissioncoststoconsumerswerearound1.1cperkW/h1 and made up approximatelythreetofivepercent2ofahouseholdbill.We havedeliveredlowertransmissionchargestoconsumersacrosssuccessiveregulatoryperiods,withcurrentpricesbeing5.2percentloweronaveragethanthepreviousregulatory period�
Modernising our network As the generation mix in the NEM changes to include more renewables,andasdemandforenergycontinuestoincreaseinmajorloadcentres,moreprudentandefficientinvestmentin transmissionandinterconnectionwillberequired.
InJuly2018,AEMOreleaseditsinauguralISP,whichoutlinedanumberofmajortransmissioninvestmentsinNSW.TransGridcommencedplanningforthefollowingISP projects:
» QNI – Queensland to NSW interconnectorTheprojecttoupgradetheQueenslandtoNSWinterconnectorwillincreasetransfercapacitybetween bothstates,whichiscurrentlyconstrained.Thiswilldeliverpositivebenefitsforconsumersandthe NEM.
» VNI – Victoria to NSW interconnectorIncreasingtheelectricitytransfercapacitybetweenVictoria andNSWwilldeliverbenefitsforconsumersinbothstatesandenabletheefficienttransferofgenerationresourcesbetweenthetwostates.Thisincreasedinterconnectioncapacitywillalso helptoimprovethereliabilityandresilience ofthe powersystem.
» Project EnergyConnectProjectEnergyConnectisanewelectricityinterconnectorbetweenRobertstowninSouthAustraliaandWaggaWaggainNSW,withaconnectionalsointonorth-westernVictoria.TransGridispartneringwithElectraNettodeliverthisproject.ByconnectingNSWandSouthAustralia,theprojectwillfacilitatethetransferofelectricitybetweenthesetwomarketsandisestimatedtolowerconsumerenergybillsby $66inSAand$30inNSW.3
» HumeLink TheSouthernSharedNetworkbetweentheSnowyMountainsandBannabycarriespowerfromallgeneratorsacrosssouthernNSWtothemajorloadcentresofSydney,NewcastleandWollongong.ItalsocarrieselectricityfromVictoriatothemajorloadcentresinNSW.TheSouthernSharedNetworkiscurrentlyconstrained.Itwouldfacilitatethe transfer of additional generation to demand centres includingfromtheSnowy2.0expansion.
RegulatoryInvestmentTestsforTransmission(RIT-T)havestartedforQNI,VNI,ProjectEnergyConnectandHumeLink,andprojectapprovalrestswiththeAER.GiventhecriticalityoftheseprojectsforNSW,TransGridreceivedapprovalfromtheNSWGovernmenttoprogresstheprojects’designphasesinparallelwiththeregulatoryapprovalsphases.This willenableTransGridtodeliverbenefitstothepeopleof NSWasearlyaspossible.Weareontracktoprogressthese projects in the coming year�
Improving consumer confidence in our decisionsDemonstratingthebenefitsforconsumersfrominvestmentinISPprojectsisessentialtogainingtheirconfidenceinourdecisionmakingprocess.In2019,wereviewedourgovernancemodeltoaddressthisandestablishedanindependentreviewpaneltooverseecapitalexpenditure,procurementanddelivery forthefourISPprojects.In partnershipwithElectraNet,wealsoproposeda programofintensiveengagementwithourstakeholderstoprovidegreatertransparencytotheAER andconsumeradvocacygroups.Thisapproachhelpsustoensurewe’remakingprudentdecisionsthat willdeliver therightoutcomesfor consumers.
WealsoheldourfirsttwostakeholdermonitoringcommitteemeetingsforourPoweringSydney’sFutureproject(seepage22)inpartnershipwithEnergyConsumers Australia.The committee includes representatives from our TAC (seepage16)andhasprovideduswithongoingconsumerfeedbackaroundprojectstrategyandimplementation.This consultation approachhasbeenveryeffectivein boostingconsumerconfidenceandwewilladoptit forall majorprojectsthatare approvedinfuture.
1.AveragepriceisbasedonpricesandforecastinflationfromtheAER’sfinaldecisionforTransGrid’stransmissiondetermination2018/19–2022/23.2.Percentageofaveragebillcalculatedusingc/kWhasoutlinedinTransGrid’sPTRM,andAEMCpricetrendreports(NSWportion).3.ACILAllen,SA-NSWInterconnector–UpdatedAnalysisofPotentialImpactonElectricityPricesandAssessmentofBroaderEconomicBenefits,February2019.
A transparent investment assessment process that benefits consumers.As a regulated business, the onus is on us to ensure all capital expenditure is in the long-term interests of consumers.
Toenablethis,weusetheAER’sRIT-Twhenconsultingonourmajorprojects.TheRIT-Tisaformalconsultationprocessdesignedtoinformstakeholdersofaninvestmentneedandtheproposedoptionsto addressit;testthemarketforalternativeormoreefficientsolutions;andexplaintostakeholdersthebasis onwhichthepreferredoptionhasbeenselected.
InFY19,wecarriedoutthefirstofthreeRIT-TconsultationstagesforQNI,VNIandHumeLinkandwealsoprogressed to the second stage of consultation for Project EnergyConnect�
20 21
TransGrid
Annual Review
FY19FY19 highlights
Chairm
an’s
message
CEO
’s report
Who
we are
Efficiency
Aff
ordability Reliability
SustainabilitySafety
ConnectionCollaboration
Reliability
Maintaining a reliable transmission network for the futureThe high voltage transmission network in NSW transfers electricity to more than three million households and businesses in NSW and the ACT.
Through programmed maintenance and augmentation of TransGrid’stransmissionnetwork,weensureourassetsoperateefficientlyandsafely.
Bymanagingourassetssustainablyandresponsibly,wedeliverongoingvaluetoenergyconsumersandTransGrid’sshareholders.Overthepastyear,weefficientlymaintainedthenetworkandachieved99.9999percentreliabilitywithone outage of 0�31 system minutes lost�
Wealsoimplementeda$208massetreplacementprogramtoensurethesustainabilityofsubstationsandtransmissionlines� This included the installation or replacement of 753 transmissionlinestructuresandassetrenewalworksat 48substations.
AspartofourOpticalPowerGroundWork(OPGW)program,werolledout509kmofopticalfibrecables.Thishasenabledustomoderniseourtelecommunicationsnetworksothatwearewell-preparedforthedemandsofrunningthegridof thefuture.
Despitethehighvolumeofassetreplacements,wedeliveredarecord$16mServiceTargetPerformanceIncentiveScheme(STPIS)result.TheSTPIS,administeredbytheAER,providesincentivestotransmissionnetworkprovidersonthebasisofperformancemeasuresrelatingtoreliability,marketimpact,andnetworkcapability.Thisresultdemonstratestheeffectivenessofourassetmanagementsystemwhichenablesustodeliverareliablenetworkforenergyconsumers.
Investing in modern infrastructure that supports economic and sustainable growth Ournetworkhasenabledthereliabletransmissionofelectricity for more than 50 years� Many assets in the networkarenowapproachingtheendoftheirserviceablelife.Assomeofthehighvoltagecablesnolongertransportasmuchelectricityastheywereoriginallydesignedto,TransGridneedstoplanandinvesttomeetelectricitysupply needs in future�
PoweringSydney’sFutureisatransmissioncableprojectthatwillsecurefutureelectricitysupplytoSydney’sCBDandsurroundingareas.InFY19,significantprogresswasmadeonthedeliveryoftheproject,withthefinalcable
routeapprovedinMay2019followingseveralmonthsofengagementwithresidents,businesses,thecommunityandkeystakeholders.Thisrevisedroutewillreduceconstructionimpactsonlocalcommunities,meetstakeholderrequirementsandimproveconstructability oftheproject.
The environmental assessment process and community consultationontherevisedroutebeganinJanuary2019andsignificantworkontheEnvironmentalImpactStatement(EIS)hascommenced.Constructionisscheduledtostartinmid-2020withcompletionduein2022.
Inthelastyear,wealsocompletedthestakeholderconsultationprocessforconstructingStockdillSubstation,whichwillprovidetheACTwithasecondelectricitysupplypoint.ConstructionstartedinMay2019for6kmoftransmissionlinesand20towers.ConstructionofthesubstationwilltakeplaceinFY20,withcompletionscheduledforOctober2020.
Asset management programs completed in FY19 » Secondarysystemssiterenewals(2sites)
» Secondarysystemsassetrenewalstrategies (14sites)
» Powertransformerrefurbishments(4 transformers)
» Substationassetrenewalstrategies(21sites)
» Substationvideosurveillanceupgrade(21 sites)
» Transmissionlineslowspans(50linesover6 projects)
» Transmissionlineswoodpolereplacement (3 lines)
» TransmissionlinesOPGW(10Lines)
» Beaconsfieldredevelopmentstage2
» Orange66kVGIS&secondarysystemsrenewal
» Asset Monitoring Centre upgrade
TransGrid’s electricity networks
23
TransGrid
Annual Review
FY19
22
FY19 highlights
Chairm
an’s
message
CEO
’s report
Who
we are
Efficiency
Aff
ordability Reliability
SustainabilitySafety
ConnectionCollaboration
Best practice asset managementOur asset management system has been developed further since ISO 55001 asset management certification was achieved in 2014.
Thiswasdemonstratedthroughzeromajornon-conformancesinFY19,followinganexternalaudit.InApril2019,theAssetManagementCouncilrecognisedTransGrid’sassetmanagementexcellencewithtwoawards:oneforsocialandenvironmentalandonefordiversity.Overtheyear,TransGrid’sassetmanagementdemonstratedbestpracticeinmanagingthe entire asset lifecycle and the company’s commitment to delivering communityvaluethroughinvestinginasafe,securenetwork.
25
TransGrid
Annual Review
FY19
24
FY19 highlights
Chairm
an’s
message
CEO
’s report
Who
we are
Efficiency
Aff
ordability Reliability
SustainabilitySafety
ConnectionCollaboration
Sustainability
Managing our environmental impactProtecting the environment is a priority, and we strive to maintain the highest environmental standards and practices to minimise environmental impact.
Wehaveanimportantroletoplayinimprovingour environmental performance and disclosure sothatourcustomers,ourpeopleandthebroadercommunitycanbeconfidentthatweoperateinaresponsiblemanner.Planningforcapitalprojectsisamajorpartofourbusinessoperations.Weengageconstructivelyandtransparentlywiththecommunitieslivingandworkingaroundourprojects.Where required,we prepareanEnvironmentalImpactStatement(EIS)toassessaproject’ssocialandenvironmentalimpacts,andplacethedocumentonpublicdisplay.
Planning for the futureLastyear,wecarriedoutduediligenceforTransGrid’sfirstnetworkclimatechangeadaptationstrategy,startingwithavulnerabilityassessment using current climate data� This willallowustoestimatephysicalimpactsthatclimatechangewillhaveontheNSWandACTtransmissionnetworkoverthenext30to50yearsandbeyond.Itwillassistourbusinesstounderstandtheimpactonoursubstationsandtransmissionlines,andguideplanningof the potential steps required to ensure the reliabilityofthenetwork.Wealsoreviewedourapproach to assessing cultural heritage and ecologyimpactstoachieveareasonablebalancebetweenevaluatingrisks,deliveringefficienciesinenvironmentalassessment,andminimisingourcomplianceriskinthefuture.
Sustainable work practicesFollowingtheintroductionofsmartprintinginJune2018,TransGrid’sprintvolumehasreducedbyatleastonetonneofpaperoverthefollowingyear.Wehaveprogresseddevelopmentofanewelectronicsystemtotrackwasteandidentifyrecyclablematerials,withthesystemdueforimplementation in FY20�
“Our environmental vision is to be a strong enabler in the transition to a low carbon energy system and econonmy”
InFY18,wegeneratedapproximately8,500tonnes of direct greenhouse gases1(anapproximate 30 per cent reduction on the previousyear)andapproximately1,080,000tonnesofindirectgreenhousegases(anapproximate eight per cent reduction on the previousyear).Thisdataiscurrentlybeingcollated for FY19�
To reinforce our commitment to safe and sustainableworkpractices,TransGridbecameamemberoftheInfrastructureSustainabilityCouncilofAustralia(ISCA)in2019.WithanaccreditedassessorinourHealth,SafetyandEnvironment(HSE) team,wearenowwellpositionedtoprepareourfirstISCAsubmissionin thenearfuture.
Protecting the threatened pink-tailed worm-lizard at Stockdill Substation siteThe Biodiversity Impact Assessment for Stockdill Substation, the ACT Second Electrical Supply Project, identified the construction site as a potential habitat for the pink-tailed worm-lizard.
Thisleglessreptileislistedasvulnerableunder the ACT Nature Conservation Act 2014 and the Commonwealth Environment Protection and Biodiversity Conservation Act 1999�
Toprotectthisspecies,alizardrehabilitationplanwasputinplace,supportedbytheACTGovernment.Rockssuitableforthethreatenedpink-tailworm-lizardhabitathavebeenhandsourcedfromtheconstructionzone,andmovedtocreateapermanenthabitatwithintheStockdill Substation.
TransGridandourprojectcontractor,Zinfra,havebeenworkingincloseconsultationwithACTParksandConservationServiceinordertoimplementfurtherhabitatprotectionssuchas:
» Barrierstopink-tailworm-lizardmovementinstalledaroundpink-tailworm-lizardhabitatandfencedasno-go-zoneareas
» Targetedsalvageforpink-tailworm-lizardsinareasmarkedashighpotentialhabitat.
1.CalculatedaccordingtorequirementsoftheNationalGreenhouseandEnergyReportingAct.
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Managing bushfire riskOurbusinessplaysakeyroleinmanagingbushfireriskinNSWand theACT.Wecontinuedtocarryoutannualinspectionsofour13,000kmofinfrastructureinNSW,usinghelicopterpatrolstovisuallyassesstheconditionofourtowersandpowerlines.Thepatrolscheckedforvegetation encroachments along transmission line easements and helped us to identify and managebushfirerisks.
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Investing in our peopleOur team members each have a role to play in creating value for energy consumers. We are committed to building a high performance culture where everyone can reach their potential, and make a contribution to the success of the business and the role we play in the community.
Building capabilityInFY19,weinvestedtoraisethecapabilityofourworkforcesothatourpeoplehavetheskillsandexperiencenecessarytomeet the expectations of our customers and the community� Tosupportthis,wedevelopedawhole-of-businesscapabilityframeworktoinformrecruitment,developmentandworkforceplanning.Thishelpedustohire therightpeople,improvetheirskillsandknowledge,andtoplanaheadsowedevelopthenextgenerationofbusinessleaders.
Our learning calendar featured more than 20 programs rangingfrompresentationskillstobusinesswriting.Werefreshedourinductionprogramtoreflectthequicklyevolvingnatureofourbusiness,anddeliveredagraduateprogramtogive13individualstheopportunityto acceleratetheircareerbylearningfromexpertsintheir field.
Wealsocontinuedourapprenticerecruitmentprogram,withseven apprentices starting a four-year electro-technology technicianprogram.Duringtheyear,weinvestedintheirlearninganddevelopmentbyprovidingtraininginkeymaintenancefieldssuchascircuitbreakermaintenanceandsubstationinspection.Wealsoofferedfiveapprenticegraduates a permanent role upon completion of their course�
A diverse and inclusive workplace TransGridrecognisesthevaluethatdiversityofthought,experienceandbackgroundcanbringtoourworkplace.InFY19,wecontinuedeffortstoincreaserepresentationandproductivitybyestablishingaDiversityCounciltodriveinitiativesacrossthebusiness.The13councilmembershelptochampiondiversityandinclusionandengagewithcolleaguestomakeiteasierforthemtohavetheirsay.
WealsolaunchedourfirstReconciliationActionPlan(RAP) toaffirmourcommitmenttobuildingrelationshipswithAboriginalandTorresStraitIslanderpeoples,andset upadedicatedRAPCommitteetoembedawarenessandparticipationthroughoutthebusiness.WealsocontinuedtosupportNAIDOCWeekandNationalReconciliationWeek,andorganisedseveraleventssuchasaninteractiveAboriginalartactivityandaneducationsessiononthedifferencebetweenWelcometoCountryandAcknowledgementofCountrytoraiseawarenessandincreaseknowledgesharing.
Tosupportthegrowthofscience,technologyandmaths(STEM)talentinourcommunity,wewelcomed15AboriginalandTorresStraitIslanderhighschoolstudentstotourTransGridaspartoftheUTSGaluwaExperience.This sessionwasdesignedtoencourageparticipantswithaninterestinSTEMtoexplorehighereducation.WealsowelcomedtwoAboriginalandTorresStraitIslanderinternsforthefirsttime,aspartoftheCareerTrackerprogram.
InMarch2019,werecognisedInternationalWomen’sDaybyrelaunchingourflexibleworkingpolicytoensureitisappliedconsistentlytoeveryonethroughoutthebusiness.Overtheyear,therewasprogressoneffortstoachievegenderdiversity,withanincreaseinfemalehiresandareductionin resignationsbywomen.TransGridpartneredwithWork180,adigitalresourcethatadvocatesforgenderdiversityintheworkplace,toimprovetheratioof womenworkingwiththecompany.
In2018,weworkedwithGracePapers,asocialchangebusinessdedicatedtogenderequalityathomeandatwork, tooffersupporttoparentsandthosetakingsecondarycareleavewhoarereturningtoworkatTransGrid.WealsocreatedatransitiontoretirementprogramwithRiseSmarttohelpourmorematureworkforce exploretheirnextgoals.Morethan90employees tookpartandtheprogramwillcontinue.
Year Women % Aboriginal Torres Strait Islander
2015 18% 1.0%
2016 19% 1.0%
2017 20% 1.3%
2018 20% 1.0%
2019 22% 1.8%
Shahpar Ahmed Senior Project Developer
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Building a career at TransGridI started working with TransGrid as an apprentice in January 2012, straight after finishing my HSC. I was always interested in electrical engineering, and an apprenticeship with TransGrid allowed me to gain hands-on experience while studying.
AfterfinishingmyTAFEstudies,I begananelectricalengineeringdegree online part-time� Once I completedmyapprenticeship,Ibecameanengineeringofficerin the transmission lines and cables group.
Theengineeringofficerrolewasbothfieldandoffice-based,givingmetheopportunitytoseehowwork isdesigned,scheduled,organised and performed on site� The role also exposed me to contractsandtenderswhichreallypiqued my interest in this area�
Sincethen,I’veprogressedmycareerbytakingonseveralrolesthathavegivenmeabroadrangeofknowledgeandexperience.I currentlyworkasateamleaderservice management and this gives meexposuretothewholebusiness.
TheskillsI’vegainedatTransGridareirreplaceable.Ihavebothatradeandadegree,andIhaveacquired many interpersonal skillsincludingteamwork,timemanagement,communication,criticalthinking,adaptabilityandthe abilitytoworkunderpressure.
There are so many experienced andknowledgeablepeoplefromallwalksoflifehereatTransGrid.I’mworkingwithandlearningfromthebestinthebusiness,andthat’s alwaysahighlightforme.
Elise Mamaca Service Management Team Leader(pictured here in 2014 as a 3rd year apprentice)
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LTIFR of 0.8,downfrom
4.3 in the previous year
Safety
A safer place to work At TransGrid, the safety and welfare of our people and the broader community is our highest priority. We focus on injury prevention, health and safety risk management, and developing the capabilities of our teams to support a transparent safety culture.
Driving safety awarenessUnderourapproachtohealthandsafety,we highlight thepositivewaysthatindividualsand teamscanmakeadifferenceandweempowerour peopletotakeownershipoftheirpersonalsafety.Overthepast12months,wecontinuedto emphasisesafeworkpracticesacrossallareas of thebusiness,andsafetybriefingsremainedafeatureofprojectbasedteammeetings.As partofourcommitmenttoraisingsafetystandards,weestablishedaworking grouptoexplore safety inasset design and howto furthermitigaterisk.
Engagingourpeopleinworkplacesafetywasakeyfocusareaofactivityinthelastfinancialyear.Weworkedtore-positionworkplacesafetyasrelevanttoallareasofthe business,andnotonlytofield-basedteams.Westrengthenedengagementacross allcorporatebusinessunitstodriveinternalawarenessaroundtherolethatindividualscanplayin maintaining asafeworking environment.
Wealsoconcentratedonincreasingleadershipvisibility,withleadersspendingmoretimeon-sitewith projectbasedteams.InvestmentinadditionalHSE resourcesalsoenabledustoprovideextracomplianceandcoachingsupportfor on-siteinfrastructure delivery projects�
Supporting health and wellbeingInearly2019,wecommencedananalysisofjobtaskstobettersupportthehealthandwellbeingof our people� This involved physiotherapists andoccupationaltherapists conductingon-siteassessmentstoassistwithidentifyingriskareas,taskallocationandtaskrotationforeachjob.The therapistsalsohelpedtooutlinepost-injuryreturn toworkprocesses.
Inthelastyear,therewasalsoanincreaseinhazardreporting,with198hazardsreportedinFY19comparedto104inthepreviousyear.Thiswasadirectresultofoureffortstopromoteasupportiveandopenculture.WehadtwolosttimeinjuriesinFY19,oneforTransGridandoneforacontractor,andalosttimeinjury frequencyrate(LTIFR)of0.8 asof30June2019.Thiscomparedto4.3 in FY18.Thisdownwardtrend wasdrivenbyseveralinitiativesincluding:
» promotingpsychologicalsafetyaswellas physical safety
» increasingleadershipvisibilityacrossprojects » increasingHealthSafetyandEnvironment(HSE)awarenessthroughparticipationin SafetyDays.
Best practice in safetyInOctober2018,TransGridwasrecognisedattheSafeWorkNSWawards,wherethebusinesswashighlycommendedintheLeadershipinSafetycategory.Wealsowonaninternationalawardforourmobileplantframeworkappinthe annualIntranetandDigitalWorkplaceAwards,whichrecognisestheoutstandingcontributionsofdigitaltechnologytoworkplaces.TransGrid’sappreducedpaperworkandadministrative time required to meet compliance obligationsinthefieldandensuredsafetystandardswereappliedconsistentlyacrossthebusiness.The useoftheapphasreducedpaperworkonthesetasksbyaround80 percent.Ourpeoplenowhavegreatervisibilityoverallocatingresourcestoajob,andcanseethe human resources allocated to operate the plant arebothqualifiedandexperienced.
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NEW SOUTH WALES
VICTORIA
ACT
Legend
Solar FarmWind Farm
Newcastle
Tamworth
Orange
Canberra
Wagga Wagga
Broken Hill
Connection
Renewable energy connectionsTransGrid connects a diverse range of generators into the NEM, and over the last financial year connection of renewable energy generation grew significantly. In FY19, we connected wind and solar energy projects to the grid, and now have in excess of 4,000MW of renewable energy projects operating or under construction.
Overthepast12months,thetransitionacrosstheNEMtoincludelowercostrenewablegenerationcontinuedto gatherpace.Ourbusinessexperiencedunprecedentedgrowthinnewconnectionprojects,executing12newgeneratorconnectionagreements,fivemorethanplanned, duetoincreaseddemandfromourcustomers.
WealsoexecutedanagreementforacustomerloadconnectionforanewcorrectionalfacilityintheNorthernRiversregionofNSW,aswellasasignificantlinemodificationtosupportthenewWesternSydneyAirport.
Thissuccessissupportedbyastrongprojectpipelinewithsixnewprojectsindevelopmentaftercustomersbeganformalconnectionapplicationsduringtheyear.Thisbringsthetotalnumberofprojectsindevelopmentto23.
Key customer connection highlights » WesuccessfullyenergisedtheBerylSolarFarmSubstationinApril2019.ThismilestonemarksasignificantachievementforTransGrid,asBerylisthefirstGreenfieldsubstationbuiltforasolarfarmconnectiontoourhighvoltagenetwork.The87MWprojectwillproduceenoughsolarenergytoservetheneedsofapproximately25,000averageNSWhomesandhelppower theNSW Government-ownednorthwest SydneyMetrotrainlines.
» InOctober2018,wesignedaconnectionagreementforTotalEren’s200MWKiamalSolarFarmprojectnearOuyen,innorth-westernVictoria.ThisisourfirstrenewableenergyconnectionundertakenoutsideNewSouthWales.KiamalSolarFarmwillallowtheexportof200MWofpowerintotheNEM,enoughtoservetheneedsofapproximately133,500averageAustralianhomes.Theassociatedcarbonemissiondisplacementisequivalenttomorethan610,000tonnes per year1�
» InJune2019,webrokenewgroundatBerrybankWindFarminVictoria.BerrybankisthefirstprojectintheVictorianRenewableEnergyTargetScheme.WewillbeginconstructionofasubstationandconnectthewindturbinesinFY20.Thewindfarmissettobe energisedinmid-2020.
» Afterthreeyearsofplanningandoneandahalfyearsofconstruction,wecompletedaprojecttoinstall3.8kmof330kVundergroundcableatWesternSydneyAirport.Thisprojectwasdeliveredthreemonthsaheadofschedule,andisanAustralianfirstfora330kVtransmissionnetwork,usinganundergroundcabletoconnecttwosectionsofabovegroundcableonthesameline(seecasestudyonpage38).
1.Accordingtodatapublishedinkiamalsolarfarm.com.au
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Delivering critical infrastructure at Western Sydney AirportIn January 2018, we started work to relocate 3.2 kilometres of above ground high-voltage power line that crosses an area of Badgerys Creek (home to the future Western Sydney Airport) to an underground cable route located within the airport site.
Thisrelocationwascriticaltoallowa substantialprogramofworkstotakeplacefortheairport,includingtheremovalof22millioncubicmetres of soil.
OursiteteamatBadgerysCreekdelivered this project for our customer, WesternSydneyAirportCorporation,threemonthsaheadofschedulewithno lost-timeinjuriesor environmentalincidents.
» Usinganundergroundcabletoconnecttwosectionsofabovegroundcableonthesamelineisaninnovativesolution,whichbenefitsthe airport and minimises impacts on the surrounding community�
» Theworksincludedstringing20kmofOPGWconductorfromSydneyWestSubstationtoBadgerysCreek,andinstallingopticalfibrecurrent transformers at each end ofthecabletomonitorcurrentflow.
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Meeting our customers’ needsProviding effective customer engagement is a core part of our business strategy.
Tomeasureperformance,weengageexternalconsultantstosurveycustomers.Inourlastengagementsurveyin2018,ourdirectcustomersrateduswitha95percenttrustscoreandan86percentreputationscore.Ournetadvocacyscorewas+10.Thishassetabenchmarkforourfutureperformance�
Byunderstandingourcustomers’objectivesanddevelopingsharedgoals,wecanidentifymutuallybeneficialopportunities and create a positive customer experience� Overthepast12months,wecontinuedtostrengthenourcustomerrelationshipsbyengagingwithourdirectcustomersregularlyandeffectively.Engagementincludedfacetofacemeetings,digitalinteractionsandregulareventssuchasprojectandindustryforums.Overall,weincreasedthenumberofcustomerengagementsto420comparedto200 last year�
Therewerealsoseveralopportunitiesforustoaddvaluethroughincreasedcollaborationandinformationsharing.Weorganisedseveralforumstodiscusstopicsimpacting the industry and provided updates on innovative technologies,suchassynchronouscondensersandgridscalebatterystorage.Throughengagementlikethis,westrengthenedcustomerrelationships,sharedknowledgeandwerepositionedtoquicklyandefficientlyrespondtoour customers’requirements.
Total 6929MW new generation capacity
Wind farms
Wind farms
Wind farm
Solar farms
Solar farms
Solar farms18 39
load connection
5 21
1
New generationconnections under development
New generationconnections under commissioning
New generationconnections under construction
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Connection
Telecommunications connections Over the past 15 years, TransGrid’s 4,000km network has grown significantly to become one of the largest fibre optic systems in Australia.
OurtelecommunicationsnetworkextendsfromLismoreinNSWtoGeelonginVictoria,andprovidesservicestowholesale,enterprise,government,energyandrenewablecustomers.Aunique‘fibreinthesky’network,strungaboveourhigh-voltagetransmissiontowers,providessecureandreliabledataservicestoour customers�
InFY19,ourtelecommunicationsbusinessrevenueincreasedbyover20percentaswecontinuedtoimplementourgrowthstrategy.Weanticipatefurthercustomerandrevenuegrowthoverthenextfiveyearsasweextendourbackbonenetwork.Wearealsoexpandingourproductportfolioandtheservicesweprovidetogovernment,enterprise,wholesale,energyand infrastructure clients�
Extending our reach InJuly2018,wewereselectedasadataandinternetservicesproviderontheNSWGovernment’sDepartmentofFinanceServicesandInnovationTelecommunicationspanel.Asapanelmember,wewillsupportdeliveryofthegovernment’s digital strategy across the state to achieve theirtransformationimperatives.Thiswasasignificantmilestoneforthebusinessand testamenttoourfast,secureandreliable network.
Overthelastyear,thebusinessalsostartedtoforgecloserelationshipswithotherpowerandutilitypartners,includingEndeavourEnergy,EssentialEnergy,NexiumandAARNET,byaugmentingournetworkwithkey fibreroutestoexpandourreachthroughoutNSW,ACTandVictoria.
Toenhancenetworkresilienceandourcustomeraccessnetworkreach,westartedtodevelopextendedaccesswiththirdpartiesusingNationalBroadbandNetwork(NBN)EnterpriseEthernet,TelstraManagedLeaseLine(MLL),andEthernetAccess(EA)services.Our plantodirectlyconnecttheNSW/ACTNBNPointsofInterconnection(POIs)continuedwith10connectionscompleted in FY19 and the additional POI connections settotakeplace inFY20.
WealsocommencedworkondeliveringanewSoftwareDefined–WideAreaNetwork(SD-WAN)andCloudConnectservice.Thiswillallowcustomerstoleverageanycombinationofservicesincludingfixedandmobiledata,andbroadbandinternetservicestosecurelyconnecttotheirapplicationstothepublic,privateandhybridclouds.Theseservicesarescheduledforlaunchin FY20�
Improving the customer experienceAsacustomerfocusedbusinessoperatinginacompetitivemarket,wearealwaysseekingopportunitiesthatwillhelpustoenhancethecustomerexperience.InJuly2018,wepartneredwithNokiatodesignanddeployanewcarrierEthernetnetworkinNSW.This stateofthearttelecommunicationsnetworkincorporatedthelatestequipmentandswitchingtechnology designed to MEF 3�0 standard� It has providedourcustomerswithoutstandingreliability,diversity,speedandsecurity.
Wealsodeployedanew24/7servicedesktoofferourtelecommunicationscustomersround-the-clocksupport,andimplementedadigitalworkflowplatformtolog,trackandreporttheprogressofallcustomerenquiries.Ourcustomerscannowraiseincidentsviaaself-servicedigitalportalanytimeandanywhere.Feedbackontheservicehastodatebeenverypositive.
OurCo-Location(Co-Lo)business,previouslyknownasFacilities,automatedkeycustomertouchpointstoreduceturnaroundtimeframesforcustomerssubmittingaco-locationapplication.Wealsostartedpreparationstolaunchanewonlineservice,scheduledforFY19/20,whichwillenablecustomerstoscopespaceonatowerandreserveaperturewithouthavingtoattendsite.
More than 130 telecommunication towers
37,000 high voltage transmission towers across NSW and the ACT
growthinrevenue in FY1920%
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Working with Mulgoa Land Care Group to assist with the management of weeds and improve biodiversity in the Mulgoa Creek corridor. The commitment to this land for conservation is vital as it provides habitat and supports safe movement for wildlife including wombats and several bird species.
Connection
Engaging with the community TransGrid’s high voltage transmission network flows through and serves communities in all urban, regional and rural areas of NSW and the ACT.
Asweembarkonanincreasingnumberofprojects,weaimtoincreasethe positiveimpact wehaveonlocal communities.
InadditiontoofficesinSydney’sCBDandwesternSydney,wehaveofficesanddepotslocatedinNewcastle,Orange,Tamworth,YassandWaggaWagga.Fromallourregionallocations,wedeployhundredsofpeopletoensurethetransmissionnetworkprovidessafe,reliableelectricityatthelowestpossiblecost.
Inadditiontomaintainingtheexistingnetwork,our employees and contractors are active in otherpartsofthestate,scopinganddeliveringnewgeneratorconnectionsandproposednewtransmission projects to meet future demand forenergy.Thebestwaytocommunicatewithcommunitiesisface-to-face,andthatistheapproachwetakewhennewprojectsare proposed.
Working in the communityInFY19,westartedcommunityengagementonPoweringSydney’sFuture(seepage22forprojectdetails)todefinearouteforthisundergroundcableproject.Todothis,wecarriedoutextensiveengagementwithhouseholds,businesses,governmentsand agencies to support development of theEnvironmentalImpactStatement(EIS),displayed inOctober2019.
Weidentifiednewstakeholdersneartherevisedtransmissioncableroute,aswellasnewlyaffectedstakeholdergroupsinthewidercommunitywhoarelikelytohaveaninterestinproject construction and operation� In addition todoorknocking,ageo-targetedsocialmediacampaignwasusedtoraiseawarenessoftheprojectandtoencouragecommunitymembersto attend community information sessions� This wassupportedbyotherengagementactivitiesincludingwebsiteupdates,phonecalls andprintadvertising.
Asocialmediacampaignwasalsoimplementedtocreateawarenessaroundtheinteractivefeedbackportal.Thecampaignencourageduserstoattachtheirfeedbacktoaspecificareaalongthetransmissioncableroutesothat concernswerehighlightedtransparentlyand openly�
Wealsolaunchedcommunityengagementon the route for proposed transmission interconnectingProjectEnergyConnect,which if approvedwouldconnectNSW,SAandVictoria(seepage21forprojectoverview).To dothis,TransGridmetwithlandholdersfromtheSAbordertoBurrongatounderstandtheirland use priorities� More than 300 hundred engagementactivitieshavetakenplacesinceNovember2018.
Working with landownersAlmost17,000individuallandownershaveTransGridassetsoreasementsontheirproperties.Weengagecloselywiththeselandholders to maintain and operate these assetsandeasementssothatwecanprovidesafeandreliabletransmissionservicestothe community.
InFY19,wereceivedapproximately600enquiresandapplicationsfrommembersofthepublicseekingtocarryoutdevelopmentswithinornearoureasements,andthisnumberisexpectedtoincrease as development projects progress in the GreaterSydneyarea.Tostreamlinetheprocessforourlandholders,wedevelopedanewwebsiteportalsothecommunitycanlodgeandtracktheirenquiries and applications online� The portal is expectedtodeliverefficiencybenefitsinFY19/20.
WealsoupdatedourLandholderEasementsandCompensationGuideinlinewithfeedbackthatsuggestedwecouldprovidelandholderswithmoreupfrontinformationontheacquisitionprocessandtheirrights,aspartofourlargeacquisition projects�
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Delivering hay bales to support farmers impacted by drought in NSW.Connection
Giving back to our communityCorporate giving is a key element of TransGrid’s commitment to corporate social responsibility.
Overthepast12months,westrengthenedourrelationshipwithRuralAidtosupportfarmersimpactedbythedroughtinNSWanddonatedmorethan$80,000infood vouchers and hay through Rural Aid’s ‘Buy a Bale’ program� Many of these farmers resided in communities located near our transmission lines�
Throughourcommunitypartnershipsprogram,wealsodonated$80,000toothercommunityorganisationslocatedalongsideourprojectroutesinNSWincluding:
Name Location How funding is being used
Scout Association of Australia 1st Yass Group
Yass Cleaning the scout hall and installing roof insulation
Energy and Water Ombudsman SouthernSydney Fundingforannualmembershipfees
NSW Rural Fire Service Bunnaloo Bunaloo Installingdrawersinthevehicletoprotecttoolsandsafety equipment
Wagga Wagga Community Media Incorporated
WaggaWagga Providingadisabilityaccessrampintothebuilding
Awards Australia NSW/ACT RecognisingoutstandingleadershipattheTransGridLeadershipAwards2018/2019
Armidale & Region Aboriginal Cultural Centre & Keeping Place
Armidale Runningtwo12-monthAboriginaleducationprograms
Moulamein Pre School Inc. Moulamein Buildingareadingnook,upgradingagingfurnitureandproviding ergonomic seating as part of the school’s literacy program
Pooncarie Primary School P&C Mildura Upgrading a 1920s shed to a greenhouse and creating anoutdoorcoveredareawithdisabilityaccess
Outback Theatre for Young People
Barham Establishingcreativeworkshopsforprimaryandhighschoolstudentstobuildskillsandfostercollaboration
NSW Department of Education Barham Public School
Barham Buyingadefibrillatorthattheschoolandlocalcommunity can use during events
Country Education Foundation of Coleambally
Coleambally Providingaccommodation,textbooks,equipment,uniforms and internet connections for post-secondary educationstudents,traineesandapprentices
Community Living and Respite Services
Echuca UpgradingkitchenfacilitiesattheMurrayRiverTea Rooms
Narrandera Landcare Inc. Narrandera SupportingacommunityinitiativetoplanttreesintheNarranderaWetlands
Moulamein Country Women’s Association
Moulamein Restoringkitchenfacilitiesafterfiredamage
NSW Cancer Council Kings Cross Sponsoringthe2019SchoolsChallengeatRelayfor Life
NSW Government Schools Mathoura Public School
Mathoura PurchasingSTEMrelatedresourcesforprimaryschoolstudentstakingpartinaten-weekroboticsprogram
Thunderstone Cultural & Land Management Services
Charnwood HoldingaWelcometoCountryandCleansingCeremony
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Jerry MaycockChair B. Eng Mech (Hons), FAICD, FEngNZJerrywasappointedasChairofTransGridon22February2018.Hehasspentmorethan35yearsinbusinessleadershiprolesand,asaseniorexecutive,hasworkedprincipallyinthebuildingandconstructionmaterialsindustries.HavingbegunhiscareerwithShellOilintheUKandthenNewZealand,heheldanumberof senior management positions in Australia,principallywithSwiss-basedconstruction materials multinational groupHolcimLtdovera20-yearperiod.Subsequentlyhe heldseveralotherseniormanagementpositions,the lastbeingManagingDirectorandCEOofCSRLtd.
Rick FrancisDirector and Deputy ChairB.Com, MBA, CA, GAICDRickwasappointedaDirectorofTransGridon16December2015.Hehasmorethan18yearsexperience in the Australian energy andinfrastructureindustries,andhasbeentheManagingDirectorandChiefExecutiveOfficerofSparkInfrastructure since May 2012� Prior tothat,hewasChiefFinancialOfficerattheASXlistedgastransmissionand energyinfrastructurebusinessAPAGroupforfouryears.Healsospent more than eight years at Origin Energy LimitedinanumberofseniormanagementrolesincludingGroupFinancial Controller and Operations Manager,EnergyTrading.
Bénédicte ColinDirectorMBA, GAICDBénédicteColinwasappointedtotheTransGridBoardon19April2017.She hasmorethan20yearsexperienceininfrastructure,projectfinanceandcorporategovernancein bothAustraliaandFrance.Priortothis,BénédictewasCEOofKeolisDowner,whichis the largest private multi-modal transport operator in Australia� Under herleadership,thebusinessgrewsignificantlyanddeliveredsuperiorcustomer satisfaction and operational performance� Bénédicte has overseen numerous PPP and franchise contract bidsandworkedontheVictorianDesalinationprojectsfromitsbidphasein2009toits$3.7bnsuccessfulfirstrefinancingin2013.Bénédictewasaco-founderandpartnerofthelawfirmDeGaulleFleurance&AssociateinPariswhereshehandledlargemergerand acquisition transactions� Bénédicte isalsoadirectorofPlenaryGroupHoldings,aspecialistinpublic-privatepartnership infrastructure projects�
Jean-Étienne LerouxDirectorB.Com, MFEJean-ÉtienneLerouxwasappointedtotheTransGridBoardon16December2015.HehasbeenRegionalDirector,Transactions&AssetManagementintheInfrastructureteamofLaCaissededépôtetplacementduQuébec(CDPQ)since2006.Inthisrole,he has a mandate to develop a portfolio of quality infrastructure holdingsinAustralia,whilemanagingspecificassetswithinthe portfolio.ThisincludesthePort ofBrisbane,forwhichheledthe acquisition process at the end of 2013� Jean-Étienne is a director ofthePortofBrisbaneandsitson the Oversight Committee ofFiera AxiumInfrastructure(Québec).HehasservedontheBoardsofInTransitBC(Vancouver,BritishColumbia),theBudapestAirportandSouthEastWater(UnitedKingdom).
Steven FitzgeraldDirectorBEc, MAICDStevenFitzgeraldwasappointedtotheTransGridBoardon1 July2018.HeisHeadofAssetManagementforHRLMorrison&Cowithresponsibilityfortheperformanceofprivatemarketinvestmentsmadeonbehalfofclients.StevenjoinedMorrison&Coin2011after13yearsofsenior executive experience at WellingtonInternationalAirport,Infratil Airports Europe and Sydney Airport.StevenisalsoaDirectorofQueenslandAirportsand Perth Airport�
Gordon HayDirectorB.Eng (Hons), MBAGordonHaywasappointedtotheTransGridboardon1July2018.HeisanExecutiveDirectoratMorrison&Co,andheisthePortfolio Performance Director for the Utilities Trust of Australia� Gordonhasabroadinfrastructurebackground,withspecificexpertiseinenergymarketsandregulatedutilities.Hisexperiencespansinvestmentmanagement,corporategovernance,andcorporateadvisory.Previously,GordonledtheEnergy&UtilitiesinvestmentteamatQIC,andheservedontheBoardofPowercoLimited,NewZealand’slargestregulatedenergynetwork.GordonwasalsoanExecutive Director at an Australian boutiqueinvestmentbank,wherehewasresponsiblefororiginationandexecutionofM&Atransactions,debtfinancingsandequityraisingsacrosstheinfrastructure,energyand resources sectors�
Collaboration
Board of Directors and Executive TeamOur directors and executive team have a wealth of combined experience across the energy industry and other markets.
Overthepast12months,therehavebeenseveralkeyappointments to support the delivery of our strategy� In November2018,wewelcomedanewExecutiveManager
Strategy,InnovationandTechnologytoourexecutiveleadershipteam.Thiswasfollowedbytheappointmentof ournewChiefFinancialOfficerinFebruary2019.
Board of Directors
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Dr Warren MundyDirectorFRAeS, FAICD, BSc (Hons), DipEc, MPhil PhD, Grad Dip App Fin, MEnvLaw (Hons) DrWarrenMundywasappointedtotheTransGridBoardon16December2015.HehasheldseniorexecutiverolesintheairportsindustryinbothAustraliaandEuropeandhasworkedforMcKinseyandCompany,theReserveBankandtheWATreasuryCorporation� In 2015 he retired as a Commissioner on the Australian Productivity Commission after six years of service and served on the Board of Airservices Australia as Deputy Chair foroverfiveyears.WarreniscurrentlyadirectoroftheSydneyDesalinationPlant,thetrusteeoftheEnergyIndustrySuperannuationScheme,andtheNationalHealthCo-OperativeandamemberoftheQueenslandCompetitionAuthority.WarrenistheChairofboththe Regulatory Committee and of the trusteeoftheNSWElectricityNetworksAssets Trust�
Julie StanleyDirectorGAICD, CA, B.ComJulieStanleywasappointedtotheTransGridBoardon16December2015.SheisaformerAssuranceandAdvisoryPartneratDeloitte,andhasbeenaDirectorontheRegionalArtsVictoriaBoard since 2015� Julie has extensive experience as a Registered Company Auditor.Shehasadeepunderstandingoftheenergysector,havingauditedavarietyofclients,andhasgainedauditing exposure in the energy sector in Australia and the United Kingdom� Shecontinuestospecialiseintheenergy sector in Australia�
Dr Keith TurnerDirectorBE (Hons), ME, PhD, Elec Eng, FIEE, FIPENZ, FNZMKeithwasappointedtotheTransGridBoardon16December2015.HehasextensiveexperienceintheNewZealandenergysector,andservedasChiefExecutiveOfficerofMeridianEnergyLimitedfrom1999to2008.Priortothat,heworkedasaprivateenergyexpertadvising a range of large corporate clients andGovernment.KeithhasservedinseniorrolesatContactEnergy,theElectricityCorporationofNew Zealand,andtheNewZealandElectricityDepartment.Hehadalsoheldmanyindustry reform roles� Keith is currently aNon-ExecutiveDirectorofSAPowerNetworks,VictoriaPowerNetworks,CitiPowerandPowercorandaDirectorofChorusNZLimited.KeithhaspreviouslybeenDeputyChairofAucklandInternationalAirport,andChairofFisherandPaykelAppliancesLimited.
Paul ItalianoChief Executive OfficerB.Bus, MBA, FAIM, FLWA, FCPAPauljoinedTransGridinMay2016after serving as the Chief Executive OfficerofWesternPowersince2012.HiscareerincludestimewithWesfarmersGeneralInsuranceasGeneralManagerBusinessServices;atHBF HealthFundsasGeneralManagerFinancialServices andStrategicDevelopment;andattheRACasChiefFinancialOfficer.Paulis a CPA and holds a Bachelor of BusinessandanMBA.HeisalsoaFellowofCPAAustralia,LeadershipWAandtheAustralianInstituteof Management.
Jason Conroy
Chief Financial OfficerBCom (Accounting), MBA, FCAJason is an experienced seniorfinanceexecutiveandnon-executivedirectorwithatrackrecordofgeneratingsignificantvalueforshareholders.Notably,JasonwasChiefFinancialOfficeroftheASX-listedenergyutilityoperatorDUETGroupfornineyears,whereheco-ledasignificanttransformation through mergers andacquisitions,recapitalisationsand restructuring� This resulted in its$7.4billiontakeoverinMay2017.
Michael GattExecutive Manager, Works DeliveryDip Elec Eng, BCom (Business)Michael has more than 20 years experience in the electrical supply industry across a diverse range of responsibilitiesincludingtechnicalroles,policydevelopmentandseniormanagement.He currentlymanagesTransGrid’scapitalandoperatingworksprogramstogetherwithHealth,SafetyandEnvironment.Michael previouslyheldboardpositionswiththeNSW EnergyandWaterOmbudsman;heldseniorroleswith theDepartmentofEnergyUtilitiesandSustainability;andworkedasaSeniorAdviserforthe NSWGovernment.
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TransGrid also thanks Tony Meehan for his contribution to the executive team during the 2019 financial year.
Chris PembertonExecutive Manager, Corporate Services BEng (Hons), MBA, AGSM, GAICDChris has extensive experience in improvingbusinessperformance,service delivery and people engagementsupportedbyadiversebackgroundincorporateandbusinessstrategy,infrastructure,operations,IT,purchasing,propertyand engineering� In his previous roleasGroupHeadCorporateServicesforDowner,ChrisledtheIT,procurement,sharedservices,propertyandbusinesssystemtransformationandthebusinesscost reduction program� Prior to joiningDowner,Chrisranhisownconsulting practise and held a numberofseniorleadershiproleswithQantas.
Gerard ReiterExecutive Manager, Network Planning & OperationsBEng (Hons) RPEQGerardoverseesTransGrid’sstrategic asset management decisions and investment strategies inadditiontoassetperformance,environmentalapprovals,non-networksolutionsandsystemoperations.HehasadeepknowledgeofenergytransmissionbusinessesandhaspreviouslyheldexecutiveroleswithinPowerlinkinQueensland.HeworkedinSwitzerlandwithABBfortwoyears,andheldconsultingrolesinMalaysiaforTNB(Electric).GerardwasChairmanoftheAustralianPowerInstitute(API)from2012to 2016.
Graeme Wedderburn Head of Corporate AffairsBA CommGraemehasmorethan30yearsexperienceworkinginbusinessand government at the highest levels.BeforejoiningTransGridinNovember2018,Graeme’scareer included Director of SpecialisedCapitalGroup,Westpac’sinvestmentbankingarm, GeneralManager,GovernmentandCorporateAffairswithOriginEnergyandconsultingforbusinessand governments in Australia andAsiawitharangeoffirmsincludingKPMG.Ingovernment,Graemeservedinanumberofroles including senior adviser to Australia’s Minister for Foreign AffairsandasChiefofStaffforthe longestcontinuouslyservingNSWPremier.
Eva HanlyExecutive Manager Strategy, Innovation & TechnologyBEng (Hons), BA, MBA, AICDEva has over 20 years experience in theinfrastructureindustry.Shehasastrongbackgroundinprocuringand delivering infrastructure and in establishingnewbusinesses,drivinggrowthandleadingtransformationalchange.BeforejoiningTransGrid,EvawasGeneralManagerNSWDevelopmentatTransUrban,responsibleforthegrowthpipeline,andwaspartoftheleadershipteamresponsibleforacquiringWestConnex.Priortothat,EvawasGeneralManagerCommercial at Origin Energy� Eva sits on the Deans Advisory Council for the FacultyofEngineeringatUNSW.
Peter HortonExecutive Manager, Legal, Governance and RiskBA LLBBeforejoiningTransGrid,PeterHortonwasGroupGeneralCounselandCompanySecretaryforQBEInsuranceGroup(2014–2016)andWoolworths(2005-2014);General ManagerLegalandCompanySecretaryof WMCResources(1993-2005);andalawyerthenprincipalsolicitoratBHPPetroleum.PeterreceivedtheLifetimeAchievementAwardforservicetocorporatelawandin-houselegalbyGlobalLeadersinLawinSeptember2018.HewastheACLAAustralianCorporateLawyeroftheYearin2002andhisteamswereawardedtheACLAAustralianLawAwardforIn-HouseLegalDepartmentoftheYearin2004,2005and2013.PeterisalsoamemberofACCASXGC100ExecutiveCommittee and a non-Executive DirectorwithnotforprofitcompanyBusinessforDevelopment(B4D).
Richard LoweExecutive Manager, Business GrowthLLBRichard has more than 25 years experience in mergers and acquisitions,financing,andoperationsacross the infrastructure sector� In a career spanning commercial law,projectfinanceandinvestmentbanking,Richardhasledsuccessfulbidsandfinancedmajorprojectsand acquisitions valued at more than $100billion.HeisresponsibleforgrowingTransGrid’snewconnectionsandnetworkexpansion,property,telecommunications,strategicacquisitionsandcommercialisingnewtechnology initiatives� Before joining TransGrid,RichardwasManagingDirector of Macquarie Infrastructure’s $2bninfrastructureportfolioinIndia.
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CEO
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Who
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Efficiency
Aff
ordability Reliability
SustainabilitySafety
ConnectionCollaboration
Collaboration
Key indicator reviewTransGrid is committed to creating and sustaining long-term value. We delivered a strong financial performance this year, driven by revenue from our non-prescribed business totalling $142.19 million.
*Source:AEMCelectricitypricingreport
AEMCelectricitypricingreport.TransGridTUOSandAEMOMarketdata.
Key financial indicatorsFY19 FY18
Prescribedrevenue 749.41 713.1
Non-prescribedrevenue 142.19 119�2
Total revenue 891.60 832.3
OperationalExpenditure(opex) (203.30) (216.1)
Earnings before interest, taxes, depreciation, and amortization (EBITDA) 688.30 616.2
Net profit after tax (NPAT) 28.83 (47.5)
Prescribedcapitalexpenditure(capex) 209.43 230�8
Non-prescribedcapitalexpenditure(capex) 139�33 108�0
Total Capex 348.76 338.8
Totalpropertyplantandequipment(PP&E) 7570.89 7577.9
Intangibleassets,investmentpropertyandother assets 2921.45 2997.7
Total assets 10492.34 10575.6
Externaldebt* (5695.06) (5634.2)
Otherliabilities* (574.71) (349.6)
Net assets 4222.58 4591.8
*Excludesdebtraisingcostsandfairvalueadjustments* Excludes shareholder loans
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FY19FY19 highlights
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CEO
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Who
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Efficiency
Aff
ordability Reliability
SustainabilitySafety
ConnectionCollaboration
Keeping you and your way of life
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