our world of energy freedom
CREATING VALUE IN FY20. Here we define our value creation in FY20, across our five pillars, that has been achieved through the adoption and continued development of our integrated approach.
PARTNERSHIPS
KAITIAKITANGA
Deep and enduring partnerships are a vital foundation for our business and broader economic outcomes. Kaitiakitanga (guardianship and protection) is embedded in our operations and the relationships we have with our commercial, community and iwi partners. Our long-standing partnerships with Māori and other landowners have been essential to new wind developments and existing geothermal operations that rely on the ongoing access to natural resources. Our commercial partnerships have focussed on green growth opportunities such as electric vehicle uptake in New Zealand. We are proud to have long-standing commitments to support local communities. These help to allow us to bring our purpose to life and ensure value creation extends past the direct economic performance of the company.
We harness energy from natural resources. We have a longterm focus that recognises the interests of other stakeholders, including future generations of New Zealanders. Our renewable generation contributes towards New Zealand’s renewable energy advantage that delivers value to customers and contributes to meeting New Zealand’s climate change goals. In order to protect the natural environment on which we rely to deliver energy to our customers, resource consent compliance is a key focus. We place a high priority on collaboration with government and local communities in which we operate to ensure ongoing natural resource availability, protection and enhancement of environmental outcomes, including the health and wellbeing of the Waikato River and its catchment.
COMMERCIAL
PEOPLE
Our financial results reflected in this Annual Report, and the trends they reflect, are a product of our focussed ultra-long-term business strategy, centred on delivering value to our owners. We apply strong financial disciplines and robust risk management in operating our business and pursuing future growth. We take pride in our leading economic performance. We aim to deliver stable and sustainable cash flows that support dividends to our owners and grow in value over time. Through our partnerships and working with communities we also provide broader economic development, societal and environmental benefits.
We believe that the best way to create value in our business, and deliver the best experience possible to our customers, is by ensuring we have High Performance Teams on our side. We aim to make Mercury a great and safe place to work, where employees feel engaged and motivated to live out their full potential. We value diversity, particularly in contributing to innovative thinking, and have a culture of inclusion where people feel they can contribute and succeed in our business. The safety and wellbeing of our people and everyone we work with is a component measure of executive remuneration. We have a complementary focus on employee development, great people management and a high-performance culture, which ensures staff are recognised and rewarded for excellence.
CUSTOMERS Our purpose is to inspire New Zealanders to enjoy energy in more wonderful ways. We are doing this through an approach that rewards loyalty, leverages customer-led technology, and makes our service seamless and easy for people. We are grateful to our customers for choosing us and in response we focus on what they tell us matters most to them – giving them a great experience, keeping them connected and helping to maintain security of their supply and rewarding their loyalty. Customer satisfaction is a core benchmark for our business and to ensure that everyone at Mercury is accountable for delivering customer focus, it is a component measure of executive remuneration.
22