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Full-year highlights:
- Accelerated the clean energy transition by announcing the early closure of Yallourn power station in mid-2028 and committing to pumped hydro and large-scale battery projects, and a gas and hydrogen-capable power station.
- Committed to scope 1, 2 and 3 net zero emissions by 2050 with a 60% reduction in direct emissions by 2028/29
- Grew the Go Neutral community by 22 per cent, with more than 440,000 customer accounts now opted-in to the program. In all, the company is now offsetting over 2.8 million tonnes of carbon dioxide.
- Launched two new solar products, Solar Home Bundle and Solar Plus Plan - Empowering Homes Program, which delivers rooftop solar and a battery to customers with no upfront cost.
- Improved the experience for our customers, with a 28.6 points improvement since 2015 in Net Promoter Score.
- Set up over 537,000 payment plans or extensions for customers during 2020-21 – an 84 per cent increase on the previous year, plus waived $1.5 million in debt for vulnerable customers, giving them a fresh start to 2022.
EnergyAustralia, one of the country’s leading energy retailers, today announced it contributed operating earnings before interest, tax depreciation, amortisation, and fair value adjustments of A$486 million to owner CLP Group in the 12 months ended 31 December 2021, down from A$745 million a year ago.
The results reflected the combined effects of strong competition in the retail sector, the increased cost of gas under new supply contracts, reductions in forward wholesale electricity prices, and continued remedial works on the Morwell River Diversion following heavy rainfall last year.
Managing Director Mark Collette said:
“Our 2.4 million customers and the communities in which we operate are counting on us to deliver a clean, reliable and affordable energy future. Nothing will detract us from this pursuit.
“In the past 12 months we’ve updated our company Climate Change Statement, which includes a commitment to net zero emissions (scope one, two and three) by 2050, to be out of coal by 2040, and to reduce our direct emissions by 60 per cent by 2028/29 relative to 2019-20.
“EnergyAustralia is investing in the clean energy transition in Australia through commitments to projects like Kidston, Wooreen and Tallawarra B which complement growing renewable generation volumes. We have more to come with a suite of flexible and dispatchable projects in progress including Lake Lyell, a proposed pumped hydro storage project to be located on EnergyAustralia’s Mt Piper site.
“We have made significant investments as part of our commitment, such as our carbon neutral gas and hydrogen power plant in New South Wales, Tallawarra B, and the Wooreen battery at Jeeralang in Victoria. These energy projects pave the way for even more renewable projects to enter the system.
“EnergyAustralia is delighted that our customers are choosing to be part of the energy transition through products ranging from Solar Home Bundle to Go Neutral. Go Neutral is the largest Climate Active certified offset offering in the Australian energy sector.
“Our actions give our customers and communities optimism for the future. We will keep partnering with them to make the energy transition a reality.”
Outlook
EnergyAustralia predicts competition in the retail space to remain intense, and with acute pressure on margins stemming from low electricity forward prices and higher gas supply costs.
The business continues to focus on being the retailer of choice and an energy partner to customers by improving the customer experience, while expanding on its suite of products and services.
EnergyAustralia will also continue bringing to life its pipeline of modern energy projects that run along the east coast of Australia in tandem with exploring newer opportunities, such as the Lake Lyell pumped hydro energy storage project in New South Wales.
As a responsible operator, the business continues to consult with governments and communities on the design and delivery of a cleaner energy system.