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Singapore Institute of Power and Gas Essential Test Instruments for Low Voltage Course Code: EFD02 COURSE OBJECTIVES Upon completion of this course, participants will be able to: • List the test instruments that are commonly used for low voltage (LV) works (e.g., multi-meter, insulation resistance tester, etc.) • Know the applications of the different LV test instruments • Apply the techniques in using the Test Lamp • Explain the purpose of conducting the insulation resistance test • Discern on the status of the equipment or cables under test • Understand the principle of electromagnetic induction used for cable identification • Apply the safety precautions to be taken while using LV test instruments on ‘live’ equipment and cables MAIN CONTENTS • Safety precautions while using test instruments • Multi-meter • Test lamp • Megger or Insulation Resistance Tester • Phase Rotation Meter • Earth Megger • Earth Loop Impedance Tester • Signal Generator • Thermal Gun/Scanner • Voltage Detector METHODOLOGY Lecture and practical session TARGET AUDIENCE Engineering and technical staff working in the electrical power industry COURSE DETAILS Duration : 7 hours Mode of Delivery : Face-to-face or Blended (Face-to-face and Synchronous E-learning) Certification : SIPG Certificate of Completion PDU by PE Board : 4 Additional Requirement/s : Personal Protection Equipment (PPE) must be worn during practical session. PPE includes: • Safety Shoes • Rubber Gloves • Fire Retardant Clothing (FRC) • Face Shield COURSE FEES Full Course Fee : S$700 (before GST) For Singapore Citizens/PR/LTVP+* : Not applicable For Singapore Citizens (40 years old and above) : Not applicable Singapore Institute of Power and Gas Pte Ltd UEN: 201427065Z 2 Kallang Sector, Singapore 349277 Ver 4.0_0323 Singapore Institute of Power and Gas ADDITIONAL REMARKS • Trainee must attain at least 75% attendance rate and pass the assessment to receive Certificate of Completion and funding grant (if applicable). • Subsidy of up to 70% is applicable for Singapore Citizens, Permanent Residents or Long-Term Visitor Pass Plus (LTVP+) Holders, subject to funding agency’s approval. • Enhanced subsidy of up to 90% is applicable for Singapore Citizens aged 40 years and above, subject to funding agency’s approval. Note that GST payable will be computed from fee after 70% funding. • Professional Development Unit (PDU) is applicable for Professional Engineers registered under the Professional Engineers (PE) Board only. • All published fees are subject to prevailing GST. CONTACT US For more information, please contact SIPG at +65 6916 7930 or email training-institute@spgroup.com.sg. OTHER SIPG COURSES For more courses, visit our website at: https://www.spgroup.com.sg/about-us/training or Scan the QR code below: Singapore Institute of Power and Gas Pte Ltd UEN: 201427065Z 2 Kallang Sector, Singapore 349277 Ver 4.0_0323 Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search Search [20210709]+The+Business+Times+Online+-+SP+Group+starts+vehicle-to-grid+technology+trial.pdfhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/6be47bc7-cd00-4490-8334-697cf18bf6c9/%5B20210709%5D+The+Business+Times+Online+-+SP+Group+starts+vehicle-to-grid+technology+trial.pdf?MOD=AJPERES&CVID= SP Group starts vehicle-to-grid technology trial � THU, JUL 08, 2021 - 9:24 PM | UPDATED THU, JUL 08, 2021 - 9:35 PM TAY PECK GEK � peckgek@sph.com.sg � @PeckGekBT Jimmy Khoo, chief executive of SP PowerGrid, with the V2G-capable Nissan LEAF and a V2G bi-directional charger that will be used in the Singapore trial. NATIONAL grid operator SP Group (SP) has started its trial of vehicle-to-grid (V2G) technology and has raised its investment in a V2G technology rm as Singapore progresses towards wider adoption of electric vehicles (EVs). The company aims to test the viability of tapping the energy stored in EVs in the trial to enhance the reliability of the grid, which will need to support more than 600,000 vehicles when Singapore phases out internal combustion engine vehicles by 2040, said SP in its media statement on Thursday. When charged, EVs store energy in their lithium-ion batteries, which serve as small energy storage systems that can transfer energy back to balance the power grid, such as when renewable energy sources such as solar power fluctuate due to weather conditions. If V2G technology is viable, owners of EVs can be paid for the use of their batteries when they are tapped to mitigate the intermittency problem in other energy sources. SP has stepped up its investment in the V2G technology rm The Mobility House (TMH), but did not provide the speci cs. SP only stated that TMH has a presence in Munich, Zurich and Belmont (in California) , and provides a non-proprietary software for integrating vehicle batteries into power grids using intelligent charging and storage solutions. SP is providing four V2G charging points at SP's premises for the trial, which will be completed in June 2022. V2G technology allows energy transfer between the batteries within an EV and the power grid, and so is more sophisticated than uni-directional charging of EVs. 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Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Tan Sri Hassan Marican to retire as Chairman of SP Group, succeeded by current Deputy Chairman Ms Leong Wai Lenghttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Tan-Sri-Hassan-Marican-to-retire-as-Chairman-of-SP-Group--succeeded-by-current-Deputy-Chairman-Ms-Leong-Wai-Leng Media Release Tan Sri Hassan Marican to retire as Chairman of SP Group, succeeded by current Deputy Chairman Ms Leong Wai Leng Singapore, 28 December 2022 – SP Group (SP) announced that its Chairman Tan Sri Hassan Marican will be retiring from the SP Board on 1 January 2023. He will be succeeded by Ms Leong Wai Leng, currently Deputy Chairman of the SP Board. Tan Sri Hassan has been a director of SP’s Board since February 2011, and Chairman since June 2012. Under his stewardship, the company has been steadfast in maintaining the world-class performance of Singapore’s electricity and gas networks to ensure reliable and secure utilities supply to more than 1.6 million residential, commercial and industrial customers in Singapore. Beyond essential utilities, SP has expanded its services to a full suite of sustainable energy solutions for customers in Singapore, China, Vietnam and Thailand. Tan Sri Hassan has also paved the way for the expansion of SP’s philanthropy and community outreach efforts, from programmes for seniors to initiatives that benefit children and youth from vulnerable backgrounds. Ms Leong Wai Leng joined SP’s Board in April 2021. She is the Chief Financial Officer (CFO) of Temasek Holdings (TH) and Temasek International (TI), and Head of Singapore Projects at Temasek International. With effect from 1 January 2023, she will be appointed President, Singapore Market TI and relinquish her position as CFO of TH and TI. Ms Leong has extensive experience in both the public and private sectors. Prior to joining Temasek, she has held senior leadership positions in public listed companies in the engineering, industrial, hospitality and real estate sectors. In concluding his tenure at SP, Tan Sri Hassan said, “It has been a privilege to serve on the Board of SP Group for close to 12 years, working with my esteemed fellow Board members, and the committed management team. I salute the employees of the company who provide essential and sustainable services to households and businesses, and have been unwavering in their duties especially in the last three years of challenges and uncertainty. I am confident that under Wai Leng’s stewardship as Chairman, SP will thrive and scale new heights in business and service excellence.” Ms Leong, who assumes her role as SP’s Chairman on 1 January 2023, said, “It is my honour to take up the mantle of Chairman and I am grateful to the Directors of the SP Board for their support. I have witnessed the steady progress of SP Group in its transformational journey, making many notable advancements in the engineering, energy and sustainability sectors. I look forward to working with the Board and management in bringing more of these endeavours to fruition.” SP Group paid tribute to Tan Sri Hassan for his leadership and care for people and the community. An established corporate leader in the international business community, SP said that the management and staff have gained tremendously from his vast experience and counsel in achieving several firsts in engineering excellence and building SP’s position as a leading sustainable energy solutions player in Singapore and the region. SP welcomes Ms Leong to her new role and looks forward to her leadership in guiding the company to achieve even more for all stakeholders. - Ends - About SP Group SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore, China, Vietnam and Thailand. As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast charging and digital energy solutions for customers in Singapore and the region. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and LinkedIn at spgrp.sg/linkedin. Tan+Sri+Hassan+Marican+to+retire+as+Chairman+of+SP+Group,+succeeded+by+current+Deputy+Chairman+Ms+Leong+Wai+Leng.pdfhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/4196332c-e17d-4284-afa3-dcc9a34484af/Tan+Sri+Hassan+Marican+to+retire+as+Chairman+of+SP+Group,+succeeded+by+current+Deputy+Chairman+Ms+Leong+Wai+Leng.pdf?MOD=AJPERES&CVID= Media Release Tan Sri Hassan Marican to retire as Chairman of SP Group, succeeded by current Deputy Chairman Ms Leong Wai Leng Singapore, 28 December 2022 – SP Group (SP) announced that its Chairman Tan Sri Hassan Marican will be retiring from the SP Board on 1 January 2023. He will be succeeded by Ms Leong Wai Leng, currently Deputy Chairman of the SP Board. Tan Sri Hassan has been a director of SP’s Board since February 2011, and Chairman since June 2012. Under his stewardship, the company has been steadfast in maintaining the world-class performance of Singapore’s electricity and gas networks to ensure reliable and secure utilities supply to more than 1.6 million residential, commercial and industrial customers in Singapore. Beyond essential utilities, SP has expanded its services to a full suite of sustainable energy solutions for customers in Singapore, China, Vietnam and Thailand. Tan Sri Hassan has also paved the way for the expansion of SP’s philanthropy and community outreach efforts, from programmes for seniors to initiatives that benefit children and youth from vulnerable backgrounds. Ms Leong Wai Leng joined SP’s Board in April 2021. She is the Chief Financial Officer (CFO) of Temasek Holdings (TH) and Temasek International (TI), and Head of Singapore Projects at Temasek International. With effect from 1 January 2023, she will be appointed President, Singapore Market TI and relinquish her position as CFO of TH and TI. Ms Leong has extensive experience in both the public and private sectors. Prior to joining Temasek, she has held senior leadership positions in public listed companies in the engineering, industrial, hospitality and real estate sectors. In concluding his tenure at SP, Tan Sri Hassan said, “It has been a privilege to serve on the Board of SP Group for close to 12 years, working with my esteemed fellow Board members, and the committed management team. I salute the employees of the company who provide essential and sustainable services to households and businesses, and have been unwavering 1 in their duties especially in the last three years of challenges and uncertainty. I am confident that under Wai Leng’s stewardship as Chairman, SP will thrive and scale new heights in business and service excellence.” Ms Leong, who assumes her role as SP’s Chairman on 1 January 2023, said, “It is my honour to take up the mantle of Chairman and I am grateful to the Directors of the SP Board for their support. I have witnessed the steady progress of SP Group in its transformational journey, making many notable advancements in the engineering, energy and sustainability sectors. I look forward to working with the Board and management in bringing more of these endeavours to fruition.” SP Group paid tribute to Tan Sri Hassan for his leadership and care for people and the community. An established corporate leader in the international business community, SP said that the management and staff have gained tremendously from his vast experience and counsel in achieving several firsts in engineering excellence and building SP’s position as a leading sustainable energy solutions player in Singapore and the region. SP welcomes Ms Leong to her new role and looks forward to her leadership in guiding the company to achieve even more for all stakeholders. - Ends - About SP Group SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore, China, Vietnam and Thailand. As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. 2 Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast charging and digital energy solutions for customers in Singapore and the region. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and LinkedIn at spgrp.sg/linkedin. 3 [20191205] Media Release -Smart building solution by SP Group and 75Fhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/6ebe350f-4d2e-414a-91f3-a649a1931589/%5B20191205%5D+Media+Release+-Smart+building+solution+by+SP+Group+and+75F.pdf?MOD=AJPERES News Release SMART BUILDING SOLUTION BY SP GROUP AND 75F HELPS BUILDINGS ACHIEVE MORE THAN 30% ENERGY SAVINGS Singapore, 5 December 2019 – SP Group (SP), a leading energy utilities group and 75F, a building intelligence solutions provider, are offering a micro-climate control solution that can save more than 30 per cent in energy consumption while improving occupant comfort. The solution uses applied Artificial Intelligence (A.I.) and Internet of Things (IoT) to reduce energy consumption in a building. It takes into consideration factors like occupancy and weather and optimises air-flow to evenly cool areas. SP partnered with 75F to customise and test the performance and viability of the solution for Singapore’s tropical environment. The solution was trialled for a year at Singapore Institute of Technology’s (SIT) campus at Dover, and the Mercatus Co-operative Limited’s corporate office at One Marina Boulevard in Raffles Place. Both locations achieved more than 30 per cent in energy savings, while improving comfort for occupants by ensuring that the indoor temperature, and air quality were optimal. With the validated outcomes, SP and 75F will offer the solution to customers in Singapore, China, Vietnam, Indonesia and Australia. Air-conditioning contributes 60 per cent of a building’s electricity consumption. With buildings consuming a third of Singapore’s total electricity consumption 1 , this new solution will help Singapore reduce electricity consumption and support the goal of cutting national emissions intensity by 36 per cent below 2005 levels by 2030. Mr Brandon Chia, Head, Centre of Excellence, SP Group said: “SP Group has partnered with 75F on this micro-climate control solution that leverages A.I. and IoT. It enables customers to enjoy cooler comfort in buildings while lowering their carbon footprint. We look forward to developing more next-generation technologies to help customers in Singapore and the region save energy and cost.” The micro-climate control solution is a self-learning, intuitive building intelligence system that optimises and regulates air-conditioning in buildings to improve operational efficiency and occupant experience. The system’s central control unit divides large open spaces into smaller 1 Source: The Building and Construction Authority (BCA) Super Low Energy Technology Roadmap Report 1 zones that balances the temperature, air flow, carbon dioxide (CO 2) within each zone. It also optimises the air-conditioning operation by using the least amount of energy to achieve the required comfort. Gaurav Burman, APAC President, 75F said: “Both 75F and SP are committed to saving energy and reducing the carbon footprint of commercial buildings. The Asia Pacific market, especially Singapore, China, Vietnam, Indonesia and Australia, represent a huge opportunity given their economic growth, rising energy costs and the growing focus to improve occupant experience and operational efficiency. This partnership combines 75F’s award-winning technology with SP’s capabilities and track record in the region, allowing both companies to accelerate our growth.” SP’s partnership with 75F first started as part of SP’s Energy Advanced Research and Development (SPEAR) programme, under the SP Centre of Excellence (SP CoE). SP CoE is an initiative supported by the Singapore Economic Development Board (EDB), and drives the research, development, and integration of cutting-edge solutions and next-generation technologies for Singapore’s energy infrastructure network. -Ends- Notes to Editor: About SP Group SP Group is a leading energy utilities group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and district cooling businesses in Singapore and China. SP Group is committed to providing customers with reliable and efficient energy utilities services. About 1.6 million industrial, commercial and residential customers in Singapore benefit from SP Group’s world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. SP Group also drives digital solutions to empower customers to manage their utilities, reduce consumption and save cost. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and on Twitter @SPGroupSG. 2 About SP Centre of Excellence The SP Centre of Excellence (CoE) is an initiative by SP Group (SP) to drive the innovation and commercialisation of next-generation energy network technologies for the greater reliability and efficiency of Singapore’s infrastructure. Supported by the Singapore Economic Development Board, the CoE aims to establish SP as a thought leader in the utility industry forefront and build future-ready energy networks and resource capabilities. This allows SP to stay ahead of global trends such as the drive for smarter and greener performance, and to sustainably meet evolving customer needs. About 75F 75F is an award-winning, IoT and Machine Learning company taking a fresh approach to HVAC, lighting and controls in commercial buildings. Founded in 2012, 75F offers data-driven, proactive, predictive building intelligence and controls. 75F is backed by investment groups including billionaire-led Breakthrough Energy Ventures and Oil & Gas Climate Initiative. 75F has delivered hundreds of energy-efficient, comfortable and healthy spaces to enthusiastic customers who rave about the results. 75F launched its operations in India in August 2016 and has been growing steadily since with companies such as Firstsource Solutions, Flipkart, Bennett-Coleman Group, Mercedes Benz, Mapletree, HP, Shell, Smartworks and other leading brands in India, joining US customers such as HOM Furniture, Border Foods, Magnet 360, Rockler and Yoga Fit. 3 Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Tan+Sri+Hassan+Marican+to+retire+as+Chairman+of+SP+Group,+succeeded+by+current+Deputy+Chairman+Ms+Leong+Wai+Leng.pdfhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/4196332c-e17d-4284-afa3-dcc9a34484af/Tan+Sri+Hassan+Marican+to+retire+as+Chairman+of+SP+Group,+succeeded+by+current+Deputy+Chairman+Ms+Leong+Wai+Leng.pdf?MOD=AJPERES&CVID= Media Release Tan Sri Hassan Marican to retire as Chairman of SP Group, succeeded by current Deputy Chairman Ms Leong Wai Leng Singapore, 28 December 2022 – SP Group (SP) announced that its Chairman Tan Sri Hassan Marican will be retiring from the SP Board on 1 January 2023. He will be succeeded by Ms Leong Wai Leng, currently Deputy Chairman of the SP Board. Tan Sri Hassan has been a director of SP’s Board since February 2011, and Chairman since June 2012. Under his stewardship, the company has been steadfast in maintaining the world-class performance of Singapore’s electricity and gas networks to ensure reliable and secure utilities supply to more than 1.6 million residential, commercial and industrial customers in Singapore. Beyond essential utilities, SP has expanded its services to a full suite of sustainable energy solutions for customers in Singapore, China, Vietnam and Thailand. Tan Sri Hassan has also paved the way for the expansion of SP’s philanthropy and community outreach efforts, from programmes for seniors to initiatives that benefit children and youth from vulnerable backgrounds. Ms Leong Wai Leng joined SP’s Board in April 2021. She is the Chief Financial Officer (CFO) of Temasek Holdings (TH) and Temasek International (TI), and Head of Singapore Projects at Temasek International. With effect from 1 January 2023, she will be appointed President, Singapore Market TI and relinquish her position as CFO of TH and TI. Ms Leong has extensive experience in both the public and private sectors. Prior to joining Temasek, she has held senior leadership positions in public listed companies in the engineering, industrial, hospitality and real estate sectors. In concluding his tenure at SP, Tan Sri Hassan said, “It has been a privilege to serve on the Board of SP Group for close to 12 years, working with my esteemed fellow Board members, and the committed management team. I salute the employees of the company who provide essential and sustainable services to households and businesses, and have been unwavering 1 in their duties especially in the last three years of challenges and uncertainty. I am confident that under Wai Leng’s stewardship as Chairman, SP will thrive and scale new heights in business and service excellence.” Ms Leong, who assumes her role as SP’s Chairman on 1 January 2023, said, “It is my honour to take up the mantle of Chairman and I am grateful to the Directors of the SP Board for their support. I have witnessed the steady progress of SP Group in its transformational journey, making many notable advancements in the engineering, energy and sustainability sectors. I look forward to working with the Board and management in bringing more of these endeavours to fruition.” SP Group paid tribute to Tan Sri Hassan for his leadership and care for people and the community. An established corporate leader in the international business community, SP said that the management and staff have gained tremendously from his vast experience and counsel in achieving several firsts in engineering excellence and building SP’s position as a leading sustainable energy solutions player in Singapore and the region. SP welcomes Ms Leong to her new role and looks forward to her leadership in guiding the company to achieve even more for all stakeholders. - Ends - About SP Group SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore, China, Vietnam and Thailand. As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. 2 Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast charging and digital energy solutions for customers in Singapore and the region. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and LinkedIn at spgrp.sg/linkedin. 3 Tan Sri Hassan Marican to retire as Chairman of SP Group, succeeded by current Deputy Chairman Ms Leong Wai Lenghttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Tan-Sri-Hassan-Marican-to-retire-as-Chairman-of-SP-Group--succeeded-by-current-Deputy-Chairman-Ms-Leong-Wai-Leng Media Release Tan Sri Hassan Marican to retire as Chairman of SP Group, succeeded by current Deputy Chairman Ms Leong Wai Leng Singapore, 28 December 2022 – SP Group (SP) announced that its Chairman Tan Sri Hassan Marican will be retiring from the SP Board on 1 January 2023. He will be succeeded by Ms Leong Wai Leng, currently Deputy Chairman of the SP Board. Tan Sri Hassan has been a director of SP’s Board since February 2011, and Chairman since June 2012. Under his stewardship, the company has been steadfast in maintaining the world-class performance of Singapore’s electricity and gas networks to ensure reliable and secure utilities supply to more than 1.6 million residential, commercial and industrial customers in Singapore. Beyond essential utilities, SP has expanded its services to a full suite of sustainable energy solutions for customers in Singapore, China, Vietnam and Thailand. Tan Sri Hassan has also paved the way for the expansion of SP’s philanthropy and community outreach efforts, from programmes for seniors to initiatives that benefit children and youth from vulnerable backgrounds. Ms Leong Wai Leng joined SP’s Board in April 2021. She is the Chief Financial Officer (CFO) of Temasek Holdings (TH) and Temasek International (TI), and Head of Singapore Projects at Temasek International. With effect from 1 January 2023, she will be appointed President, Singapore Market TI and relinquish her position as CFO of TH and TI. Ms Leong has extensive experience in both the public and private sectors. Prior to joining Temasek, she has held senior leadership positions in public listed companies in the engineering, industrial, hospitality and real estate sectors. In concluding his tenure at SP, Tan Sri Hassan said, “It has been a privilege to serve on the Board of SP Group for close to 12 years, working with my esteemed fellow Board members, and the committed management team. I salute the employees of the company who provide essential and sustainable services to households and businesses, and have been unwavering in their duties especially in the last three years of challenges and uncertainty. I am confident that under Wai Leng’s stewardship as Chairman, SP will thrive and scale new heights in business and service excellence.” Ms Leong, who assumes her role as SP’s Chairman on 1 January 2023, said, “It is my honour to take up the mantle of Chairman and I am grateful to the Directors of the SP Board for their support. I have witnessed the steady progress of SP Group in its transformational journey, making many notable advancements in the engineering, energy and sustainability sectors. I look forward to working with the Board and management in bringing more of these endeavours to fruition.” SP Group paid tribute to Tan Sri Hassan for his leadership and care for people and the community. An established corporate leader in the international business community, SP said that the management and staff have gained tremendously from his vast experience and counsel in achieving several firsts in engineering excellence and building SP’s position as a leading sustainable energy solutions player in Singapore and the region. SP welcomes Ms Leong to her new role and looks forward to her leadership in guiding the company to achieve even more for all stakeholders. - Ends - About SP Group SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore, China, Vietnam and Thailand. As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast charging and digital energy solutions for customers in Singapore and the region. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and LinkedIn at spgrp.sg/linkedin. [20191205] Media Release -Smart building solution by SP Group and 75Fhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/6ebe350f-4d2e-414a-91f3-a649a1931589/%5B20191205%5D+Media+Release+-Smart+building+solution+by+SP+Group+and+75F.pdf?MOD=AJPERES News Release SMART BUILDING SOLUTION BY SP GROUP AND 75F HELPS BUILDINGS ACHIEVE MORE THAN 30% ENERGY SAVINGS Singapore, 5 December 2019 – SP Group (SP), a leading energy utilities group and 75F, a building intelligence solutions provider, are offering a micro-climate control solution that can save more than 30 per cent in energy consumption while improving occupant comfort. The solution uses applied Artificial Intelligence (A.I.) and Internet of Things (IoT) to reduce energy consumption in a building. It takes into consideration factors like occupancy and weather and optimises air-flow to evenly cool areas. SP partnered with 75F to customise and test the performance and viability of the solution for Singapore’s tropical environment. The solution was trialled for a year at Singapore Institute of Technology’s (SIT) campus at Dover, and the Mercatus Co-operative Limited’s corporate office at One Marina Boulevard in Raffles Place. Both locations achieved more than 30 per cent in energy savings, while improving comfort for occupants by ensuring that the indoor temperature, and air quality were optimal. With the validated outcomes, SP and 75F will offer the solution to customers in Singapore, China, Vietnam, Indonesia and Australia. Air-conditioning contributes 60 per cent of a building’s electricity consumption. With buildings consuming a third of Singapore’s total electricity consumption 1 , this new solution will help Singapore reduce electricity consumption and support the goal of cutting national emissions intensity by 36 per cent below 2005 levels by 2030. Mr Brandon Chia, Head, Centre of Excellence, SP Group said: “SP Group has partnered with 75F on this micro-climate control solution that leverages A.I. and IoT. It enables customers to enjoy cooler comfort in buildings while lowering their carbon footprint. We look forward to developing more next-generation technologies to help customers in Singapore and the region save energy and cost.” The micro-climate control solution is a self-learning, intuitive building intelligence system that optimises and regulates air-conditioning in buildings to improve operational efficiency and occupant experience. The system’s central control unit divides large open spaces into smaller 1 Source: The Building and Construction Authority (BCA) Super Low Energy Technology Roadmap Report 1 zones that balances the temperature, air flow, carbon dioxide (CO 2) within each zone. It also optimises the air-conditioning operation by using the least amount of energy to achieve the required comfort. Gaurav Burman, APAC President, 75F said: “Both 75F and SP are committed to saving energy and reducing the carbon footprint of commercial buildings. The Asia Pacific market, especially Singapore, China, Vietnam, Indonesia and Australia, represent a huge opportunity given their economic growth, rising energy costs and the growing focus to improve occupant experience and operational efficiency. This partnership combines 75F’s award-winning technology with SP’s capabilities and track record in the region, allowing both companies to accelerate our growth.” SP’s partnership with 75F first started as part of SP’s Energy Advanced Research and Development (SPEAR) programme, under the SP Centre of Excellence (SP CoE). SP CoE is an initiative supported by the Singapore Economic Development Board (EDB), and drives the research, development, and integration of cutting-edge solutions and next-generation technologies for Singapore’s energy infrastructure network. -Ends- Notes to Editor: About SP Group SP Group is a leading energy utilities group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and district cooling businesses in Singapore and China. SP Group is committed to providing customers with reliable and efficient energy utilities services. About 1.6 million industrial, commercial and residential customers in Singapore benefit from SP Group’s world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. SP Group also drives digital solutions to empower customers to manage their utilities, reduce consumption and save cost. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and on Twitter @SPGroupSG. 2 About SP Centre of Excellence The SP Centre of Excellence (CoE) is an initiative by SP Group (SP) to drive the innovation and commercialisation of next-generation energy network technologies for the greater reliability and efficiency of Singapore’s infrastructure. Supported by the Singapore Economic Development Board, the CoE aims to establish SP as a thought leader in the utility industry forefront and build future-ready energy networks and resource capabilities. This allows SP to stay ahead of global trends such as the drive for smarter and greener performance, and to sustainably meet evolving customer needs. About 75F 75F is an award-winning, IoT and Machine Learning company taking a fresh approach to HVAC, lighting and controls in commercial buildings. Founded in 2012, 75F offers data-driven, proactive, predictive building intelligence and controls. 75F is backed by investment groups including billionaire-led Breakthrough Energy Ventures and Oil & Gas Climate Initiative. 75F has delivered hundreds of energy-efficient, comfortable and healthy spaces to enthusiastic customers who rave about the results. 75F launched its operations in India in August 2016 and has been growing steadily since with companies such as Firstsource Solutions, Flipkart, Bennett-Coleman Group, Mercedes Benz, Mapletree, HP, Shell, Smartworks and other leading brands in India, joining US customers such as HOM Furniture, Border Foods, Magnet 360, Rockler and Yoga Fit. 3 SP Group Annual Report FY0708https://www.spgroup.com.sg/dam/spgroup/pdf/annual-reports/SP-Group-Annual-Report-FY0708.pdf POWERING ECONOMIES delivering excellence Annual Report 2007 OUR MISSION We provide reliable and efficient energy utility services to enhance the economy and the quality of life. OUR VALUES Commitment We commit to creating value for our customers, our people, and our shareholders. We uphold the highest standards of service and performance. Integrity We act with honesty. We practise the highest ethical standards. Passion We take pride and ownership in what we do. Teamwork We support, respect and trust each other. We continually learn, and share ideas and knowledge. CONTENTS 01 ABOUT SP GROUP 04 FROM THE CHAIRMAN 07 FINANCIAL HIGHLIGHTS A full Financial Statement is available online 08 GROUP STRUCTURE 09 CORPORATE REVIEW 12 CORPORATE GOVERNANCE 12 Board of Directors 16 Organisational Structure 17 Ethics & Accountability 20 Senior Management 24 OPERATIONS REVIEW - SINGAPORE OPERATIONS 26 SP PowerAssets 28 SP PowerGrid 34 PowerGas 38 SP Services 42 SP Global Solutions 43 Singapore District Cooling 44 OPERATIONS REVIEW - AUSTRALIA OPERATIONS 46 Stronger Business Model 47 SP AusNet 51 SPI (Australia) Assets 54 AWARDS & ACCOLADES 55 CORPORATE FINANCE & STRATEGIC INVESTMENTS 56 OPERATIONAL EXCELLENCE 56 Human Resource 59 Information Systems 60 Risk Management 61 COMMUNITY & ENVIRONMENT 66 FINANCIAL SUMMARY about SP group Singapore Power Group (SP) is a leading energy utility company in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia. International industry indices rate SP’s electricity grid in Singapore as one of the world’s best performing networks. Singapore has among the fewest and shortest power outages of cities worldwide. One of Singapore’s largest corporations, SP recorded revenue of S$5.4 billion and assets of S$29.0 billion in FY 07/08. In Singapore, SP provides electricity and gas transmission and distribution, and market support services to over a million industrial and domestic customers. In Australia, SP owns and operates electricity and gas transmission and distribution businesses in Victoria, New South Wales and Queensland. It owns SPI (Australia) Assets, a diversified energy utility company, and 51 per cent of SP AusNet, which is publicly-listed on the Australian and Singapore stock exchanges. POWERING ECONOMIES delivering excellence FROM THE CHAIRMAN SP ANNUAL REPORT 2007 “Today we have the scale and competencies, integration and execution skills, strong management and sound business strategy to achieve our vision to be a leading energy infrastructure company in the region.” NG KEE CHOE CHAIRMAN 04 FY 07/08 was a year of significant transformation for the Singapore Power Group. With the acquisition of the Alinta assets and businesses in Aug 07, we took an important step forward to realising our vision of becoming a leading energy utility company in the Asia Pacific region. Our asset base has now increased to S$29.0 billion, with two-thirds of our assets outside Singapore. We have also enlarged our business scale and increased our geographical and business diversification to further enhance the quality of our revenue stream. Our Group portfolio today spans regulated, contracted and non-regulated businesses across several Australian states and Singapore. We provide the complete range of transmission and distribution competencies covering underground, overhead and undersea cables and pipes. We also provide technical management consultancy services to other utility companies in China, the Gulf region and ASEAN. Financial Performance For the financial year ended 31 Mar 08, SP recorded S$1.09 billion net profit, including an exceptional gain from the sale of the Singapore Power Building. Group revenue rose four per cent to S$5.4 billion, while total assets grew 59 per cent to S$29.0 billion, mainly due to the inclusion of the Alinta assets and businesses acquired. The Group’s return on equity was a satisfactory 26 per cent. Delivering Excellence Our businesses were sharply focused on executing our strategy and delivering results. In Singapore, SP PowerAssets continued its intensive network infrastructure development to increase capacity to meet the future needs of the growing Singapore economy. SP PowerGrid again delivered exceptional network results in FY 07/08. It achieved one of the best network performance worldwide, surpassing its peers operating comparable underground networks. Singapore had one of the fewest outages among cities globally. This excellent performance was due to the adoption of cutting-edge condition monitoring technology, rigorous quality processes, and continuous investment in network infrastructure and staff development. SP PowerGrid rolled out a wireless remote equipment monitoring system in Singapore for the 6.6kV distribution network to facilitate faster supply restoration to residential customers. The project, which involves installing wireless monitoring systems at over 1,000 substations in high density areas, will complete by end 2009. Supporting The Gas Market In Sep 07, PowerGas was designated as the developer, owner and operator of Singapore’s first LNG terminal, extending its vital role as the country’s gas transporter. PowerGas is preparing to roll out a web-based IT system to manage the transportation of natural gas under the new market structure which will come into effect when the Energy Market Authority implements the new Gas Network Code in the third quarter of 2008. Striving For Customer Service Excellence SP Services tapped on technology to re-engineer its processes and improve customer service. Customers can now use SMS to request for utility connections. SP Services’ concerted efforts to enhance customer service has been duly recognised. Customers again ranked the company as providing the best customer service among major service providers in the country, in an independent annual customer satisfaction survey. SP ANNUAL REPORT 2007 05 FROM THE CHAIRMAN Growing Internationally In Australia, following the acquisition of the Alinta assets and businesses, we have expanded our operations beyond Victoria, to Queensland and New South Wales and have become one of the largest energy infrastructure groups in the Asia Pacific. In addition to our core energy transmission and distribution businesses, we now provide competencies in asset development, construction and management services. Through SP Global Solutions, SP expanded its reach to more utility companies in China, the Gulf region and ASEAN. Empowering Our People The Group continued to invest in staff development to deepen our bench strength and improve further our industry leading performance levels. People Who Made It Possible We take pride in our high standards of corporate governance. We are fortunate to have highly experienced Board members who provide sound advice and guidance. I would like to thank them for their invaluable counsel. I also wish to extend my appreciation to Mr Keith Tay who retired from the Board at the SP Annual General Meeting in Jul 07, having served two terms. SP has benefited much from Mr Tay’s past contributions, particularly from his chairing of the Audit Committee. Our achievements would not have been possible without the support and cooperation of our stakeholders including our business partners. We deeply appreciate their contributions. And to all our employees, we thank them for their hard work and commitment to deliver another year of excellent performance and customer service. SP ANNUAL REPORT 2007 In Singapore, our strong rapport with UPAGE (Union of Power and Gas Employees) facilitated the signing of a new Collective Agreement in Jun 07, featuring a better link between individual performance and rewards. We cherish our excellent management-union partnership, as this is key to sustaining our business competitiveness. Caring For The Community As part of our corporate social responsibility programme, the SP Heartware Fund raised S$3.4 million for the needy elderly from Oct 05 to end Mar 08 with the support of our business partners and staff. This surpassed our commitment to the Community Chest to raise S$3 million in three years. In Australia, our businesses invested considerable time and resources to promote environmental sustainability and preserve indigenous vegetation. The Future Today we have the scale and competencies, integration and execution skills, strong management and sound business strategy to achieve our vision to be a leading energy infrastructure company in the region. We are well positioned to assist the many growing economies expand their energy infrastructure and we stand ready to play a larger role in the international utility industry. Thank you for your wonderful support as we strive to power economies, and deliver excellence. 06 Ng Kee Choe Chairman 17 Jun 08 financial highlights Operating Revenue Total Assets S$ Million 6,000 5,000 4,832 5,243 5,447 S$ Million 30,000 25,000 29,043 4,000 20,000 18,765 18,271 3,000 15,000 2,000 10,000 1,000 5,000 0 FY 05/06 FY 06/07 FY 07/08 0 FY 05/06 FY 06/07 FY 07/08 Net Profit After Tax Shareholder’s Equity S$ Million 1,400 1,200 1,000 800 600 1,317 592 905 235 1,086 458 S$ Million 4,800 4,600 4,400 4,200 4,000 3,899 3,912 4,615 400 725 670 628 3,800 200 3,600 0 3,400 FY 05/06 FY 06/07 FY 07/08 FY 05/06 FY 06/07 FY 07/08 Recurring Profit Exceptional & Non-recurring items S$ Million 450 400 350 300 250 200 150 100 50 Economic Value Added (EVA) - Proforma 278 370 220 Percentage 35 30 25 20 15 10 5 Return On Shareholder’s Equity 34.1% 15.3% 23.2% 25.5% 5.8% 9.9% 18.8% 17.4% 15.6% SP ANNUAL REPORT 2007 07 0 FY 05/06 FY 06/07 FY 07/08 0 FY 05/06 FY 06/07 FY 07/08 Recurring Profit Exceptional & Non-recurring items GROUP STRUCTURE SINGAPORE POWER LIMITED SINGAPORE OPERATIONS AUSTRALIA OPERATIONS Main Businesses Other Businesses Main Businesses SP PowerAssets* SP PowerGrid** PowerGas SP Services SP Global Solutions SP Telecommunications Singapore District Cooling (60%) SP AusNet* (51%) SPI Management Services** SPI (Australia) Assets* SPIAA Management Company** SP ANNUAL REPORT 2007 08 Singapore Operations Singapore Operations has four main business units – SP PowerAssets, SP PowerGrid, PowerGas and SP Services. It also has a technical management consultancy arm and related businesses. SP PowerAssets owns the electricity transmission and distribution assets in Singapore. SP PowerGrid manages and operates the electricity transmission and distribution networks owned by SP PowerAssets. PowerGas is the gas transporter and system operator in Singapore. It owns and operates gas transmission and distribution assets. SP Services provides market support services to electricity, gas and water customers, and facilitates electricity retail market competition. SP Global Solutions provides consultancy, training and management services. It leverages on SP’s expertise in developing and operating energy utility infrastructure and businesses. SP Telecommunications provides telecom infrastructure services. It leverages on SP’s expertise in managing and developing infrastructure assets. Australia Operations Australia Operations has four main business units – SP AusNet, SPI Management Services, SPI (Australia) Assets and SPIAA Management Company. SP AusNet owns and operates Victoria’s primary electricity transmission network, an electricity distribution network in eastern Victoria, and a gas distribution network in western Victoria. SPI Management Services is the management unit operating the business of SP AusNet under a management service agreement. SPI (Australia) Assets is the holding company for assets acquired from Alinta Ltd. It owns gas transmission pipelines, gas and electricity distribution networks, and an asset services provider business. SPIAA Management Company manages the assets owned by SPI (Australia) Assets. It also provides third party asset development, construction and management services. Singapore District Cooling is a joint venture company providing chilled water for the air-conditioning of commercial buildings. * asset owning companies ** management services companies Corporate review Oct 03 S$3.8B global bond issue to optimise capital structure Jul 04 Acquired TXU Australia May 05 Divested Merchant Energy Business in Victoria Apr 06 Launched SP Global Solutions Aug 07 Acquisition of Alinta Assets Jan 08 Divested EverPower IPP in Taiwan 2003 2004 2005 2006 2007 2008 Oct 03 Restructured Singapore electricity transmission and distribution business (SP PowerAssets & SP PowerGrid) Dec 05 SP AusNet listed on Australian & Singapore stock exchanges Dec 06 Divested SPI Seosan in South Korea Sep 07 Designated as LNG terminal owner & operator in Singapore In 2002, SP began its journey to transform itself from a principally Singapore company focused on the transportation of electricity and gas, to a premier energy utility group in the Asia Pacific. With the acquisition of Alinta assets and businesses through SPI (Australia) Assets Pty Ltd in Aug 07, SP has reached a watershed in its corporate history. Our S$29 billion asset base today is more than double our S$13.6 billion assets in 2002. Today, 70 per cent of our assets are overseas, compared to only 18 per cent five years ago. The Group has made great progress in just five years due to our four pillars of strength • Operational excellence • Financial strategies • Corporate finance capabilities • Human talent. Operational Excellence As the owner and operator of Singapore’s entire electricity and gas transmission and distribution networks, and some of Australia’s major electricity and gas networks, we take our responsibilities to the national and regional economies, and consumers seriously. The Group maintains very high standards of network performance. The Singapore electricity grid is one of the world’s best. On average, a consumer in the country experiences less than one supply interruption every 30 years, one of the lowest in the world. This has been made possible by the deployment of new network technologies especially in the areas of condition monitoring. We have also invested heavily in the renewal and expansion of our networks in Singapore and Australia to maintain high operational performance and meet the increasing energy needs of these economies. In the last five years, SP has spent S$4.3 billion in capital expenditure. SP ANNUAL REPORT 2007 09 Corporate review SP CORE BUSINESS ELECTRICITY Generation Transmission SP PowerAssets SP AusNet Distribution SP PowerAssets SP AusNet SPI (Australia) Assets Retail GAS Production Transmission PowerGas SPI (Australia) Assets Distribution PowerGas SP AusNet SPI (Australia) Assets Retail SP ANNUAL REPORT 2007 Financial Strategies We maintain high financial discipline and are committed to a strong credit rating. This is evident in the rigorous financial, corporate governance and risk management processes embedded in the Group. In line with our strategic focus, we have divested all our non-core assets and redeployed the proceeds to our core electricity and gas transmission and distribution businesses. With our continual focus on operational excellence, financial discipline and optimal capital structure, SP’s return on equity was 26 per cent for FY 07/08, including the sale of assets. SP’s financial strength has made it an established name in the global capital markets, enabling the Group to tap the equity and debt markets efficiently. Corporate Finance Due to the inherent market limitations in Singapore, we have looked overseas to realise our growth ambitions as well as to diversify our businesses. The substantial growth in our asset base has been driven by our international acquisition strategy that focuses on • The Group’s core competencies in electricity and gas transmission and distribution • Developed economies with established regulatory regimes and frameworks • Regulated and contracted businesses that provide predictable and regular cashflows. The acquired Alinta assets and businesses include the gas transmission pipelines in New South Wales and Queensland, a gas distribution network in New South Wales, an electricity distribution network in Victoria as well as significant asset management capabilities. These have increased our geographical and sectoral diversification in Australia. 10 Human Talent SP’s continued success depends on our people and their capabilities. Today, the Group has about 6,400 staff located in Singapore and Australia. To support our rapid growth, we have accelerated efforts to recruit talent, nurture and develop our people. Some of the initiatives include • Apprenticeship programmes • Scholarship schemes • Post-graduate programmes • International posting assignments. In fact, a key driver for the Alinta transaction was the addition of its pool of 2,400 management and staff to our workforce. The integration of these people into SP has substantially broadened our operational capabilities which now cover water utilities as well and the management of third party contracts. Delivering Excellence With our larger asset base and expanded capabilities spanning two countries, we are now in an ideal position to seize growth opportunities. We will continue to explore quality accretive opportunities in US, Europe and ASEAN that will create long term value for our shareholders. We will also continue to deepen and grow our core competencies. For instance, with our proven track record, SP has been mandated to build, own and operate Singapore’s first Liquefied Natural Gas terminal as part of the country’s efforts to diversify its energy sources. We are committed to working with the relevant stakeholders for the successful roll-out of the terminal. Expanded Capabilities M&A Experience • Market knowledge • Strategic Investments Market Entry / Networking Underground cable operations • SCADA remote network • monitoring system SP PowerGrid Consultancy / Training / Advisory Services Marketing of Proprietary IP Overhead cable operations • Stakeholder management • Water • Third-party contracts • SPI Management Services SPIAA Management Company Network Planning Professional Services SP ANNUAL REPORT 2007 With expanded capabilities, SP can now provide a wide spectrum of professional management and consultancy services 11 BOARD OF DIRECTORS MR NG KEE CHOE Chairman MR ALAN CHAN HENG LOON MR ERIC GWEE TECK HAI SP ANNUAL REPORT 2007 MR HO TIAN YEE MR TAN CHEE MENG, SC 12 MR NG KEE CHOE Mr Ng Kee Choe, 63, is the non-executive Chairman of Singapore Power Limited. He was appointed Director on 1 Sep 2000 and became its Chairman on 15 Sep 2000. He is also the non-executive Chairman of SP AusNet*. Mr Ng’s other current board directorships include his position as Chairman of NTUC Income Insurance Co-operative Limited, President Commissioner of PT Bank Danamon Indonesia Tbk, Director of Singapore Airport Terminal Services Limited and Director of Singapore Exchange Limited. He is also a member of the Temasek Advisory Panel, a member of the International Advisory Council of China Development Bank and Chairman of Tanah Merah Country Club. Mr Ng was the Vice-Chairman of DBS Group Holdings. He retired from his executive position in Jul 03 after 33 years of service with DBS. For his contributions to public service, Mr Ng was conferred the Public Service Star in 2001. MR ALAN CHAN HENG LOON Mr Alan Chan Heng Loon, 55, is a nonexecutive independent Director of Singapore Power Limited. He was appointed Director on 1 Jun 01 and is also the Chairman of SP PowerAssets Limited. Mr Chan is currently the Chief Executive Officer and a Director of Singapore Press Holdings Limited. He is the Chairman of the Urban Redevelopment Authority and SPH Magazines Pte Ltd. He is a member of the Board of Trustees of the Courage Fund, the Board of Governors of The Singapore- China Foundation, INSEAD Singapore Council and INSEAD France. He is also a member of the Casino Regulatory Authority of Singapore. Previously, Mr Chan was the Permanent Secretary for the Ministry of Transport and held directorships in DBS Group Holdings Ltd, The Development Bank of Singapore Ltd and PSA Corporation Ltd. He also sits on the boards of MediaCorp TV Holdings Pte Ltd, MediaCorp Press Ltd, Singapore Press Holdings Foundation Limited, TOM Outdoor Media Group Limited, TP Ventures Pte Ltd, GMM Times Company Limited, Business China, Magazines World Sdn Bhd, Blu Inc Holdings Malaysia Sdn Bhd and Blu Inc Media Sdn Bhd. Mr Chan was awarded the Public Service Medal (Gold) in 2002. MR ERIC GWEE TECK HAI Mr Eric Gwee Teck Hai, 69, is a nonexecutive independent Director of Singapore Power Limited. He was appointed Director on 1 Jan 01. He is the Chairman of SP Services Limited and a Director of SP AusNet*. Mr Gwee is also a Director of WorleyParsons Ltd and the Melbourne Business School Ltd. He was the Chairman of the Board of Governors for the Institute of Technical Education (ITE) and the Public Transport Council. He was also the Chairman of CPG Corporation Pte Ltd and a Director of ExxonMobil Singapore Private Limited till 2001. For his many years of dedicated service to the community, Mr Gwee was awarded the Public Service Star in 1994 and the Public Service Star (Bar)[BBM(L)] in 2004. He was also honoured with the Meritorious Service Medal in 2007. MR HO TIAN YEE Mr Ho Tian Yee, 55, is a non-executive independent Director of Singapore Power Limited. He joined the Board on 1 May 03. Currently, Mr Ho is the Managing Director of Pacific Asset Management (S) Pte Ltd and holds directorships in publicly-listed companies including Fraser and Neave Limited and Singapore Exchange Limited. He is a member of the Risk Committee of The Government of Singapore Investment Corporation Pte Ltd and also the newly appointed Chairman of Times Publishing Limited. Mr Ho was a former director of Great Eastern Holdings Limited, The Overseas Assurance Corporation Limited and The Great Eastern Life Assurance Corporation Limited. He was awarded the Public Service Medal in 1997. MR TAN CHEE MENG, SC Mr Tan Chee Meng, 51, is a non-executive independent Director of Singapore Power Limited. He was appointed Director on 1 Aug 05. He is also a Director of SP PowerAssets Limited. Mr Tan is Head (International Projects) and a Partner of WongPartnership LLP. He was appointed Senior Counsel in Jan 06, and a Specialist Judge in Jul 06. Mr Tan is a Fellow of the Singapore Institute of Arbitrators and an Accredited Adjudicator of the Singapore Mediation Centre. He is a Regional Panel Arbitrator of the Singapore International Arbitration Centre and is on the Panel of Accredited Arbitrators of Badan Arbitrase Nasional Indonesia. Mr Tan also sits on the Board of the National Council of Social Service and is a member of the Board of Governors of St Gabriel’s Foundation. SP ANNUAL REPORT 2007 13 BOARD OF DIRECTORS MR BOBBY CHIN YOKE CHOONG PROF JEREMY GUY ASHCROFT DAVIS AM MR PAUL CHAN KWAI WAH SP ANNUAL REPORT 2007 BG(NS) CHOI SHING KWOK MR QUEK POH HUAT 14 MR BOBBY CHIN YOKE CHOONG MR PAUL CHAN KWAI WAH Mr Paul Chan Kwai Wah, 54, is a nonexecutive independent Director of Singapore Power Limited. He was appointed Director on 1 Aug 06. MR QUEK POH HUAT Mr Quek Poh Huat, 61, was appointed a Director of Singapore Power Limited in Nov 01 and Group Chief Executive Officer in May 04. Mr Bobby Chin Yoke Choong, 56, is a nonexecutive independent Director of Singapore Power Limited. He was appointed Director on 23 Jan 06. Mr Chin is the Chairman of Singapore Totalisator Board. Mr Chin serves on the boards of the Competition Commission of Singapore and several publicly-listed companies including Oversea-Chinese Banking Corporation Limited, AV Jennings Limited, Yeo Hiap Seng Ltd, Ho Bee Investment Limited and Neptune Orient Lines Limited. He also sits on the Board of Trustees of the Singapore Indian Development Association (SINDA). Mr Chin was the Managing Partner of KPMG Singapore from 1992 to 2005. He served as Chairman of the Urban Redevelopment Authority from Apr 01 to Mar 06. In 2003, Mr Chin was awarded the Public Service Medal. PROF JEREMY GUY ASHCROFT DAVIS AM Prof Jeremy Guy Ashcroft Davis, 65, is a non-executive independent Director of Singapore Power Limited. He was appointed Director on 1 Aug 06 and is also a Director of SP AusNet*. Prof Davis is the Chairman of UNSW Professorial Superannuation Pty Ltd and the Deputy Chairman of AMWIN Management Pty Ltd. He currently serves as a Director of the Transurban Group, CHAMP Ventures Pty Ltd, Australian Institute of Management NSW & ACT Ltd and the Australian Institute of Management Canberra. He was the former AMP Society Professor at the Australian Graduate School of Management. Prof Davis earlier spent 10 years as a management consultant with the Boston Consulting Group. He also served as a Director of the Australian Stock Exchange from 1990 to 1996, and as a Director and Chairman of AIDC Limited and Amdel Holdings Pty Ltd. He is a Director of Verigy Ltd, SIA Engineering Company Limited and National Healthcare Group Pte Ltd. He was a former Director of the Singapore Economic Development Board, Noel Gifts International Ltd and Singapore Telecommunications Limited. Mr Chan was formerly the Senior Vice President & Managing Director (Asia Pacific & Japan) of Hewlett-Packard Asia Pacific Pte Ltd and the Vice President & Managing Director (Asia Pacific) of Compaq Computer Asia Pacific Pte Ltd. He was also a member of the Tax Review Committee, Ministry of Finance and the Listings Committee of the Stock Exchange of Singapore. Mr Chan was also on the Advisory Board of the Lee Kong Chian School of Business at the Singapore Management University. Mr Chan was awarded the Public Service Star (PBM) in 2005. BG(NS) CHOI SHING KWOK BG(NS) Choi Shing Kwok, 48, is a nonexecutive independent Director of Singapore Power Limited. He was appointed Director on 1 Aug 06. He is currently the Permanent Secretary of the Ministry of Transport. He was formerly a Director of Singapore Technologies Electronics Limited, Sembawang Resources Development Corporation Ltd, Singapore Automotive Engineering Ltd and Chartered Ammunition Industries Pte Ltd. He also served as a member of the National University of Singapore Council, the Singapore Broadcasting Authority and the Jurong Town Corporation. BG(NS) Choi was awarded the Meritorious Service Medal in 2000 and the Long Service Award (25 years) in 2004 by the Government of Singapore, and has also received state awards from foreign governments. Within the Singapore Power Group, Mr Quek serves as Director on the boards of SP PowerAssets Limited, SP Services Limited and SP AusNet*. He is currently also Chairman of SP PowerGrid Limited, PowerGas Limited, SPI Management Services Pty Ltd and SPI (Australia) Assets Pty Ltd. He is a board director of publiclylisted Singapore Technologies Engineering Ltd. Mr Quek is Singapore’s non-resident Ambassador to Sweden. He was conferred the Public Service Star in 1994. * A stapled group comprising SP Australia Networks (Transmission) Ltd, SP Australia Networks (Distribution) Ltd and SP Australia Networks (Finance) Trust, acting through its responsible entity, SP Australia Networks (RE) Ltd. It is dual listed on the Australian Stock Exchange and the Singapore Exchange Securities Trading Limited. As at 9 May 08 SP ANNUAL REPORT 2007 15 organisational structure Board of Directors Chairman Mr Ng Kee Choe Nominating Committee Chairman Mr Alan Chan Heng Loon Staff Development & Compensation Committee Chairman Mr Ng Kee Choe Finance Committee Chairman Mr Ng Kee Choe Audit Committee Chairman Mr Bobby Chin Yoke Choong Risk Management Committee Chairman Mr Ho Tian Yee Head (Internal Audit) Ms Madalene Hee Subsidiaries’ Internal Audit Group Chief Executive Officer Mr Quek Poh Huat General Counsel & Company Secretary Ms Chi Ping Huey Chief Operating Officer Mr Ong Boon Hwee Chief Financial Officer Mr Yap Chee Keong Managing Director SPI Management Services & SP AusNet Mr Nino Ficca Chief Executive Officer SPI (Australia) Assets Mr Peter Magarry SP ANNUAL REPORT 2007 16 Managing Director SP PowerGrid Mr Sim Kwong Mian Human Resource & Administration Information Systems Corporate Communications SP Global Solutions Managing Director PowerGas Mr John Baptist Tay Managing Director SP Services Mr Wong Chit Sieng Managing Director Strategic Investments & Deputy CEO SPI (Australia) Assets Mr Lim Howe Run Managing Director Australia Investments Mr Jimmy Khoo Finance • Financial Management & Planning • Group Accounts • Group Tax • Risk Management • Settlements • Treasury Subsidiaries’ Finance Group Risk Management Reports to Risk Management Committee Subsidiaries’ Risk Management corporate governance ETHICS & ACCOUNTABILITY The SP Board is solidly committed to good corporate governance. The principles set out in the revised Code of Corporate Governance 2005 (the Code) for listed companies are followed closely by the Company. The Company has used the Code as its guide and best practice standard and has put in place an internal framework to ensure good corporate governance in its business practices and activities. independent professional advice to carry out their duties, the Company will arrange to appoint, at the Company’s expense, a professional advisor to render due advice. Accountability In presenting the annual financial statements to the

Search WhatsApp and Facebook Service Disruptionhttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/WhatsApp-and-Facebook-Service-Disruption Media Advisory WhatsApp and Facebook Service Disruption Singapore, 4 July 2019 – There are reports that WhatsApp and Instagram users around the world were not able to access these apps from Wednesday, 3 July (See news report: Channel News Asia. For customers who submitted their meter readings via Facebook and WhatsApp Service Disruptionhttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Facebook-and-WhatsApp-Service-Disruption Media Advisory Facebook and WhatsApp Service Disruption Singapore, 14 March 2019 – There are reports that Facebook, WhatsApp and Instagram users around the world were not able to access these apps from Wednesday, 13 March. (See news report: Channel News Asia) For customers who submitted their meter [Form] Application for Appointment for Energisation of Service Connectionhttps://www.spgroup.com.sg/dam/jcr:b79a3530-a175-4022-8e8c-bfcf3d298839/Application%20for%20Appointment%20for%20Energisation%20of%20Service%20Connection.pdf APPLICATION FOR APPOINTMENT FOR ENERGISATION OF SERVICE CONNECTION To: HOS, Elect Installation From [Name of Design LEW]: Company: SP Services Ltd Company: Email Address: largeinstall@spgroup.com.sg Contact No.: Date: Application No.: MSS A/C No.: Email Address (Design LEW): Email Address [Info] Supply Conditions for District Cooling Servicehttps://www.spgroup.com.sg/dam/jcr:e11e2c07-2c40-44b8-8306-7f59798fb50e/Supply%20Conditions%20for%20District%20Cooling%20Service.pdf SUPPLY CONDITIONS FOR DISTRICT COOLING SERVICE TABLE OF CONTENTS 1. General and Administrative Provisions 1.1 Purpose of the Conditions 1.2 Definitions 1.3 Hierarchy of Documents 2. General Obligations 2.1 General Obligations of the Service Provider 2.2 General Obligations of the Consumer 3 20190704 - Media Advisory - Facebook and WhatsApp Service Disruptionhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/733dc35f-c0fb-4766-ab95-b3b6a32868ca/20190704+-+Media+Advisory+-+Facebook+and+WhatsApp+Service+Disruption.pdf?MOD=AJPERES&CVID= Media Advisory WhatsApp n F ce k Service Disruption Singapore, 4 l 2019 – There are reports that WhatsApp and Instagram users around the world were not able to access these apps from , . (See news report: Channel News Asia. For customers who submitted their meter readings via WhatsApp since 5pm 20190314 - Media Advisory - Facebook and WhatsApp Service Disruptionhttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/6ae887a0-e021-4cb3-b1c8-3439a0e4442e/20190314+-+Media+Advisory+-+Facebook+and+WhatsApp+Service+Disruption.pdf?MOD=AJPERES&CVID= Media Advisory Facebook and WhatsApp Service Disruption Singapore, 14 March 2019 – There are reports that Facebook, WhatsApp and Instagram users around the world were not able to access these apps from Wednesday, 13 March. (See news report: Channel News Asia) For customers who submitted their meter Searchhttps://www.spgroup.com.sg/search?tag=sp-services Search SP Serviceshttps://www.spgroup.com.sg/our-services/utilities OverviewUtilities Quick Guide ResidentialUtilities Quick Guide CommercialTariff informationOpen Electricity MarketFAQsForm & ResourcesChat with Us Utilities Quick Guide to Your Utilities Moving into a new home can be exciting Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps://www.spgroup.com.sg/search?tag=service-excellence Search Searchhttps Searchhttps://www.spgroup.com.sg/search?tag=service Search Facebook and WhatsApp Service Disruptionhttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Facebook-and-WhatsApp-Service-Disruption Media Advisory Facebook and WhatsApp Service Disruption Singapore, 14 March 2019 – There are reports that Facebook, WhatsApp Media Release - SP Services' Customer Service Centre Relocates To PWC Buildinghttps://www.spgroup.com.sg/dam/spgroup/wcm/connect/spgrp/0d6c1c4d-c024-4e26-b49a-9d3a0eca3b78/%5B20150318%5D+Media+Release+-+SP+Services'+Customer+Service+Centre+Relocates+To+PWC+Building.pdf?MOD=AJPERES&CVID= 18 Mar 2015 For Immediate Release MEDIA RELEASE SP Services’ Customer Service Centre Relocates To PWC Building 1. SP Services’ Customer Service Centre at TripleOne Somerset will be relocated to PWC Building at 8 Cross Street from Monday 23 March 2015. 2. The new Customer Service Centre Singapore Power Golf Event Raised $367,000 For Needy Elderlyhttps://www.spgroup.com.sg/about-us/media-resources/news-and-media-releases/Singapore-Power-Golf-Event-Raised--367-000-For-Needy-Elderly Media Release Singapore Power Golf Event Raised $367,000 For Needy Elderly $6.5 million channelled to Home Help Service through SP Heartware Fund Singapore Power, together with its business associates raised more than $367,000 in support of the Singapore Power (SP) Charity Golf 2012 which Microsoft Word - SP Contractor Portal T&C.docxhttps://www.spgroup.com.sg/dam/jcr:071bcebf-7797-434d-9550-004d2d8dc112/%20SP%20Contractor%20Portal%20T&C.pdf Terms & Conditions of Use IMPORTANT - PLEASE READ THESE TERMS & CONDITIONS OF USE CAREFULLY. BY ACCESSING THIS PORTAL (“PORTAL”) AND/OR USING ANY OF THE SERVICES (INCLUDING DOWNLOADING, INSTALLING OR USING ANY ASSOCIATED SOFTWARE) BEING OFFERED THROUGH THE PORTAL, THE USER AGREES TO BE BOUND 1 2 3 4 5 ..... 56

Media Release Tan Sri Hassan Marican to retire as Chairman of SP Group, succeeded by current Deputy Chairman Ms Leong Wai Leng Singapore, 28 December 2022 – SP Group (SP) announced that its Chairman Tan Sri Hassan Marican will be retiring from the SP Board on 1 January 2023. He will be succeeded by Ms Leong Wai Leng, currently Deputy Chairman of the SP Board. Tan Sri Hassan has been a director of SP’s Board since February 2011, and Chairman since June 2012. Under his stewardship, the company has been steadfast in maintaining the world-class performance of Singapore’s electricity and gas networks to ensure reliable and secure utilities supply to more than 1.6 million residential, commercial and industrial customers in Singapore. Beyond essential utilities, SP has expanded its services to a full suite of sustainable energy solutions for customers in Singapore, China, Vietnam and Thailand. Tan Sri Hassan has also paved the way for the expansion of SP’s philanthropy and community outreach efforts, from programmes for seniors to initiatives that benefit children and youth from vulnerable backgrounds. Ms Leong Wai Leng joined SP’s Board in April 2021. She is the Chief Financial Officer (CFO) of Temasek Holdings (TH) and Temasek International (TI), and Head of Singapore Projects at Temasek International. With effect from 1 January 2023, she will be appointed President, Singapore Market TI and relinquish her position as CFO of TH and TI. Ms Leong has extensive experience in both the public and private sectors. Prior to joining Temasek, she has held senior leadership positions in public listed companies in the engineering, industrial, hospitality and real estate sectors. In concluding his tenure at SP, Tan Sri Hassan said, “It has been a privilege to serve on the Board of SP Group for close to 12 years, working with my esteemed fellow Board members, and the committed management team. I salute the employees of the company who provide essential and sustainable services to households and businesses, and have been unwavering 1 in their duties especially in the last three years of challenges and uncertainty. I am confident that under Wai Leng’s stewardship as Chairman, SP will thrive and scale new heights in business and service excellence.” Ms Leong, who assumes her role as SP’s Chairman on 1 January 2023, said, “It is my honour to take up the mantle of Chairman and I am grateful to the Directors of the SP Board for their support. I have witnessed the steady progress of SP Group in its transformational journey, making many notable advancements in the engineering, energy and sustainability sectors. I look forward to working with the Board and management in bringing more of these endeavours to fruition.” SP Group paid tribute to Tan Sri Hassan for his leadership and care for people and the community. An established corporate leader in the international business community, SP said that the management and staff have gained tremendously from his vast experience and counsel in achieving several firsts in engineering excellence and building SP’s position as a leading sustainable energy solutions player in Singapore and the region. SP welcomes Ms Leong to her new role and looks forward to her leadership in guiding the company to achieve even more for all stakeholders. - Ends - About SP Group SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore, China, Vietnam and Thailand. As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. 2 Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast charging and digital energy solutions for customers in Singapore and the region. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and LinkedIn at spgrp.sg/linkedin. 3

Media Release Tan Sri Hassan Marican to retire as Chairman of SP Group, succeeded by current Deputy Chairman Ms Leong Wai Leng Singapore, 28 December 2022 – SP Group (SP) announced that its Chairman Tan Sri Hassan Marican will be retiring from the SP Board on 1 January 2023. He will be succeeded by Ms Leong Wai Leng, currently Deputy Chairman of the SP Board. Tan Sri Hassan has been a director of SP’s Board since February 2011, and Chairman since June 2012. Under his stewardship, the company has been steadfast in maintaining the world-class performance of Singapore’s electricity and gas networks to ensure reliable and secure utilities supply to more than 1.6 million residential, commercial and industrial customers in Singapore. Beyond essential utilities, SP has expanded its services to a full suite of sustainable energy solutions for customers in Singapore, China, Vietnam and Thailand. Tan Sri Hassan has also paved the way for the expansion of SP’s philanthropy and community outreach efforts, from programmes for seniors to initiatives that benefit children and youth from vulnerable backgrounds. Ms Leong Wai Leng joined SP’s Board in April 2021. She is the Chief Financial Officer (CFO) of Temasek Holdings (TH) and Temasek International (TI), and Head of Singapore Projects at Temasek International. With effect from 1 January 2023, she will be appointed President, Singapore Market TI and relinquish her position as CFO of TH and TI. Ms Leong has extensive experience in both the public and private sectors. Prior to joining Temasek, she has held senior leadership positions in public listed companies in the engineering, industrial, hospitality and real estate sectors. In concluding his tenure at SP, Tan Sri Hassan said, “It has been a privilege to serve on the Board of SP Group for close to 12 years, working with my esteemed fellow Board members, and the committed management team. I salute the employees of the company who provide essential and sustainable services to households and businesses, and have been unwavering in their duties especially in the last three years of challenges and uncertainty. I am confident that under Wai Leng’s stewardship as Chairman, SP will thrive and scale new heights in business and service excellence.” Ms Leong, who assumes her role as SP’s Chairman on 1 January 2023, said, “It is my honour to take up the mantle of Chairman and I am grateful to the Directors of the SP Board for their support. I have witnessed the steady progress of SP Group in its transformational journey, making many notable advancements in the engineering, energy and sustainability sectors. I look forward to working with the Board and management in bringing more of these endeavours to fruition.” SP Group paid tribute to Tan Sri Hassan for his leadership and care for people and the community. An established corporate leader in the international business community, SP said that the management and staff have gained tremendously from his vast experience and counsel in achieving several firsts in engineering excellence and building SP’s position as a leading sustainable energy solutions player in Singapore and the region. SP welcomes Ms Leong to her new role and looks forward to her leadership in guiding the company to achieve even more for all stakeholders. - Ends - About SP Group SP Group is a leading utilities group in the Asia Pacific, empowering the future of energy with low-carbon, smart energy solutions for its customers. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and sustainable energy solutions in Singapore, China, Vietnam and Thailand. As Singapore’s national grid operator, about 1.6 million industrial, commercial and residential customers benefit from its world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. Beyond traditional utilities services, SP Group provides a suite of sustainable and renewable energy solutions such as microgrids, cooling and heating systems for business districts and residential townships, solar energy solutions, electric vehicle fast charging and digital energy solutions for customers in Singapore and the region. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and LinkedIn at spgrp.sg/linkedin.

POWERING ECONOMIES delivering excellence Annual Report 2007 OUR MISSION We provide reliable and efficient energy utility services to enhance the economy and the quality of life. OUR VALUES Commitment We commit to creating value for our customers, our people, and our shareholders. We uphold the highest standards of service and performance. Integrity We act with honesty. We practise the highest ethical standards. Passion We take pride and ownership in what we do. Teamwork We support, respect and trust each other. We continually learn, and share ideas and knowledge. CONTENTS 01 ABOUT SP GROUP 04 FROM THE CHAIRMAN 07 FINANCIAL HIGHLIGHTS A full Financial Statement is available online 08 GROUP STRUCTURE 09 CORPORATE REVIEW 12 CORPORATE GOVERNANCE 12 Board of Directors 16 Organisational Structure 17 Ethics & Accountability 20 Senior Management 24 OPERATIONS REVIEW - SINGAPORE OPERATIONS 26 SP PowerAssets 28 SP PowerGrid 34 PowerGas 38 SP Services 42 SP Global Solutions 43 Singapore District Cooling 44 OPERATIONS REVIEW - AUSTRALIA OPERATIONS 46 Stronger Business Model 47 SP AusNet 51 SPI (Australia) Assets 54 AWARDS & ACCOLADES 55 CORPORATE FINANCE & STRATEGIC INVESTMENTS 56 OPERATIONAL EXCELLENCE 56 Human Resource 59 Information Systems 60 Risk Management 61 COMMUNITY & ENVIRONMENT 66 FINANCIAL SUMMARY about SP group Singapore Power Group (SP) is a leading energy utility company in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia. International industry indices rate SP’s electricity grid in Singapore as one of the world’s best performing networks. Singapore has among the fewest and shortest power outages of cities worldwide. One of Singapore’s largest corporations, SP recorded revenue of S$5.4 billion and assets of S$29.0 billion in FY 07/08. In Singapore, SP provides electricity and gas transmission and distribution, and market support services to over a million industrial and domestic customers. In Australia, SP owns and operates electricity and gas transmission and distribution businesses in Victoria, New South Wales and Queensland. It owns SPI (Australia) Assets, a diversified energy utility company, and 51 per cent of SP AusNet, which is publicly-listed on the Australian and Singapore stock exchanges. POWERING ECONOMIES delivering excellence FROM THE CHAIRMAN SP ANNUAL REPORT 2007 “Today we have the scale and competencies, integration and execution skills, strong management and sound business strategy to achieve our vision to be a leading energy infrastructure company in the region.” NG KEE CHOE CHAIRMAN 04 FY 07/08 was a year of significant transformation for the Singapore Power Group. With the acquisition of the Alinta assets and businesses in Aug 07, we took an important step forward to realising our vision of becoming a leading energy utility company in the Asia Pacific region. Our asset base has now increased to S$29.0 billion, with two-thirds of our assets outside Singapore. We have also enlarged our business scale and increased our geographical and business diversification to further enhance the quality of our revenue stream. Our Group portfolio today spans regulated, contracted and non-regulated businesses across several Australian states and Singapore. We provide the complete range of transmission and distribution competencies covering underground, overhead and undersea cables and pipes. We also provide technical management consultancy services to other utility companies in China, the Gulf region and ASEAN. Financial Performance For the financial year ended 31 Mar 08, SP recorded S$1.09 billion net profit, including an exceptional gain from the sale of the Singapore Power Building. Group revenue rose four per cent to S$5.4 billion, while total assets grew 59 per cent to S$29.0 billion, mainly due to the inclusion of the Alinta assets and businesses acquired. The Group’s return on equity was a satisfactory 26 per cent. Delivering Excellence Our businesses were sharply focused on executing our strategy and delivering results. In Singapore, SP PowerAssets continued its intensive network infrastructure development to increase capacity to meet the future needs of the growing Singapore economy. SP PowerGrid again delivered exceptional network results in FY 07/08. It achieved one of the best network performance worldwide, surpassing its peers operating comparable underground networks. Singapore had one of the fewest outages among cities globally. This excellent performance was due to the adoption of cutting-edge condition monitoring technology, rigorous quality processes, and continuous investment in network infrastructure and staff development. SP PowerGrid rolled out a wireless remote equipment monitoring system in Singapore for the 6.6kV distribution network to facilitate faster supply restoration to residential customers. The project, which involves installing wireless monitoring systems at over 1,000 substations in high density areas, will complete by end 2009. Supporting The Gas Market In Sep 07, PowerGas was designated as the developer, owner and operator of Singapore’s first LNG terminal, extending its vital role as the country’s gas transporter. PowerGas is preparing to roll out a web-based IT system to manage the transportation of natural gas under the new market structure which will come into effect when the Energy Market Authority implements the new Gas Network Code in the third quarter of 2008. Striving For Customer Service Excellence SP Services tapped on technology to re-engineer its processes and improve customer service. Customers can now use SMS to request for utility connections. SP Services’ concerted efforts to enhance customer service has been duly recognised. Customers again ranked the company as providing the best customer service among major service providers in the country, in an independent annual customer satisfaction survey. SP ANNUAL REPORT 2007 05 FROM THE CHAIRMAN Growing Internationally In Australia, following the acquisition of the Alinta assets and businesses, we have expanded our operations beyond Victoria, to Queensland and New South Wales and have become one of the largest energy infrastructure groups in the Asia Pacific. In addition to our core energy transmission and distribution businesses, we now provide competencies in asset development, construction and management services. Through SP Global Solutions, SP expanded its reach to more utility companies in China, the Gulf region and ASEAN. Empowering Our People The Group continued to invest in staff development to deepen our bench strength and improve further our industry leading performance levels. People Who Made It Possible We take pride in our high standards of corporate governance. We are fortunate to have highly experienced Board members who provide sound advice and guidance. I would like to thank them for their invaluable counsel. I also wish to extend my appreciation to Mr Keith Tay who retired from the Board at the SP Annual General Meeting in Jul 07, having served two terms. SP has benefited much from Mr Tay’s past contributions, particularly from his chairing of the Audit Committee. Our achievements would not have been possible without the support and cooperation of our stakeholders including our business partners. We deeply appreciate their contributions. And to all our employees, we thank them for their hard work and commitment to deliver another year of excellent performance and customer service. SP ANNUAL REPORT 2007 In Singapore, our strong rapport with UPAGE (Union of Power and Gas Employees) facilitated the signing of a new Collective Agreement in Jun 07, featuring a better link between individual performance and rewards. We cherish our excellent management-union partnership, as this is key to sustaining our business competitiveness. Caring For The Community As part of our corporate social responsibility programme, the SP Heartware Fund raised S$3.4 million for the needy elderly from Oct 05 to end Mar 08 with the support of our business partners and staff. This surpassed our commitment to the Community Chest to raise S$3 million in three years. In Australia, our businesses invested considerable time and resources to promote environmental sustainability and preserve indigenous vegetation. The Future Today we have the scale and competencies, integration and execution skills, strong management and sound business strategy to achieve our vision to be a leading energy infrastructure company in the region. We are well positioned to assist the many growing economies expand their energy infrastructure and we stand ready to play a larger role in the international utility industry. Thank you for your wonderful support as we strive to power economies, and deliver excellence. 06 Ng Kee Choe Chairman 17 Jun 08 financial highlights Operating Revenue Total Assets S$ Million 6,000 5,000 4,832 5,243 5,447 S$ Million 30,000 25,000 29,043 4,000 20,000 18,765 18,271 3,000 15,000 2,000 10,000 1,000 5,000 0 FY 05/06 FY 06/07 FY 07/08 0 FY 05/06 FY 06/07 FY 07/08 Net Profit After Tax Shareholder’s Equity S$ Million 1,400 1,200 1,000 800 600 1,317 592 905 235 1,086 458 S$ Million 4,800 4,600 4,400 4,200 4,000 3,899 3,912 4,615 400 725 670 628 3,800 200 3,600 0 3,400 FY 05/06 FY 06/07 FY 07/08 FY 05/06 FY 06/07 FY 07/08 Recurring Profit Exceptional & Non-recurring items S$ Million 450 400 350 300 250 200 150 100 50 Economic Value Added (EVA) - Proforma 278 370 220 Percentage 35 30 25 20 15 10 5 Return On Shareholder’s Equity 34.1% 15.3% 23.2% 25.5% 5.8% 9.9% 18.8% 17.4% 15.6% SP ANNUAL REPORT 2007 07 0 FY 05/06 FY 06/07 FY 07/08 0 FY 05/06 FY 06/07 FY 07/08 Recurring Profit Exceptional & Non-recurring items GROUP STRUCTURE SINGAPORE POWER LIMITED SINGAPORE OPERATIONS AUSTRALIA OPERATIONS Main Businesses Other Businesses Main Businesses SP PowerAssets* SP PowerGrid** PowerGas SP Services SP Global Solutions SP Telecommunications Singapore District Cooling (60%) SP AusNet* (51%) SPI Management Services** SPI (Australia) Assets* SPIAA Management Company** SP ANNUAL REPORT 2007 08 Singapore Operations Singapore Operations has four main business units – SP PowerAssets, SP PowerGrid, PowerGas and SP Services. It also has a technical management consultancy arm and related businesses. SP PowerAssets owns the electricity transmission and distribution assets in Singapore. SP PowerGrid manages and operates the electricity transmission and distribution networks owned by SP PowerAssets. PowerGas is the gas transporter and system operator in Singapore. It owns and operates gas transmission and distribution assets. SP Services provides market support services to electricity, gas and water customers, and facilitates electricity retail market competition. SP Global Solutions provides consultancy, training and management services. It leverages on SP’s expertise in developing and operating energy utility infrastructure and businesses. SP Telecommunications provides telecom infrastructure services. It leverages on SP’s expertise in managing and developing infrastructure assets. Australia Operations Australia Operations has four main business units – SP AusNet, SPI Management Services, SPI (Australia) Assets and SPIAA Management Company. SP AusNet owns and operates Victoria’s primary electricity transmission network, an electricity distribution network in eastern Victoria, and a gas distribution network in western Victoria. SPI Management Services is the management unit operating the business of SP AusNet under a management service agreement. SPI (Australia) Assets is the holding company for assets acquired from Alinta Ltd. It owns gas transmission pipelines, gas and electricity distribution networks, and an asset services provider business. SPIAA Management Company manages the assets owned by SPI (Australia) Assets. It also provides third party asset development, construction and management services. Singapore District Cooling is a joint venture company providing chilled water for the air-conditioning of commercial buildings. * asset owning companies ** management services companies Corporate review Oct 03 S$3.8B global bond issue to optimise capital structure Jul 04 Acquired TXU Australia May 05 Divested Merchant Energy Business in Victoria Apr 06 Launched SP Global Solutions Aug 07 Acquisition of Alinta Assets Jan 08 Divested EverPower IPP in Taiwan 2003 2004 2005 2006 2007 2008 Oct 03 Restructured Singapore electricity transmission and distribution business (SP PowerAssets & SP PowerGrid) Dec 05 SP AusNet listed on Australian & Singapore stock exchanges Dec 06 Divested SPI Seosan in South Korea Sep 07 Designated as LNG terminal owner & operator in Singapore In 2002, SP began its journey to transform itself from a principally Singapore company focused on the transportation of electricity and gas, to a premier energy utility group in the Asia Pacific. With the acquisition of Alinta assets and businesses through SPI (Australia) Assets Pty Ltd in Aug 07, SP has reached a watershed in its corporate history. Our S$29 billion asset base today is more than double our S$13.6 billion assets in 2002. Today, 70 per cent of our assets are overseas, compared to only 18 per cent five years ago. The Group has made great progress in just five years due to our four pillars of strength • Operational excellence • Financial strategies • Corporate finance capabilities • Human talent. Operational Excellence As the owner and operator of Singapore’s entire electricity and gas transmission and distribution networks, and some of Australia’s major electricity and gas networks, we take our responsibilities to the national and regional economies, and consumers seriously. The Group maintains very high standards of network performance. The Singapore electricity grid is one of the world’s best. On average, a consumer in the country experiences less than one supply interruption every 30 years, one of the lowest in the world. This has been made possible by the deployment of new network technologies especially in the areas of condition monitoring. We have also invested heavily in the renewal and expansion of our networks in Singapore and Australia to maintain high operational performance and meet the increasing energy needs of these economies. In the last five years, SP has spent S$4.3 billion in capital expenditure. SP ANNUAL REPORT 2007 09 Corporate review SP CORE BUSINESS ELECTRICITY Generation Transmission SP PowerAssets SP AusNet Distribution SP PowerAssets SP AusNet SPI (Australia) Assets Retail GAS Production Transmission PowerGas SPI (Australia) Assets Distribution PowerGas SP AusNet SPI (Australia) Assets Retail SP ANNUAL REPORT 2007 Financial Strategies We maintain high financial discipline and are committed to a strong credit rating. This is evident in the rigorous financial, corporate governance and risk management processes embedded in the Group. In line with our strategic focus, we have divested all our non-core assets and redeployed the proceeds to our core electricity and gas transmission and distribution businesses. With our continual focus on operational excellence, financial discipline and optimal capital structure, SP’s return on equity was 26 per cent for FY 07/08, including the sale of assets. SP’s financial strength has made it an established name in the global capital markets, enabling the Group to tap the equity and debt markets efficiently. Corporate Finance Due to the inherent market limitations in Singapore, we have looked overseas to realise our growth ambitions as well as to diversify our businesses. The substantial growth in our asset base has been driven by our international acquisition strategy that focuses on • The Group’s core competencies in electricity and gas transmission and distribution • Developed economies with established regulatory regimes and frameworks • Regulated and contracted businesses that provide predictable and regular cashflows. The acquired Alinta assets and businesses include the gas transmission pipelines in New South Wales and Queensland, a gas distribution network in New South Wales, an electricity distribution network in Victoria as well as significant asset management capabilities. These have increased our geographical and sectoral diversification in Australia. 10 Human Talent SP’s continued success depends on our people and their capabilities. Today, the Group has about 6,400 staff located in Singapore and Australia. To support our rapid growth, we have accelerated efforts to recruit talent, nurture and develop our people. Some of the initiatives include • Apprenticeship programmes • Scholarship schemes • Post-graduate programmes • International posting assignments. In fact, a key driver for the Alinta transaction was the addition of its pool of 2,400 management and staff to our workforce. The integration of these people into SP has substantially broadened our operational capabilities which now cover water utilities as well and the management of third party contracts. Delivering Excellence With our larger asset base and expanded capabilities spanning two countries, we are now in an ideal position to seize growth opportunities. We will continue to explore quality accretive opportunities in US, Europe and ASEAN that will create long term value for our shareholders. We will also continue to deepen and grow our core competencies. For instance, with our proven track record, SP has been mandated to build, own and operate Singapore’s first Liquefied Natural Gas terminal as part of the country’s efforts to diversify its energy sources. We are committed to working with the relevant stakeholders for the successful roll-out of the terminal. Expanded Capabilities M&A Experience • Market knowledge • Strategic Investments Market Entry / Networking Underground cable operations • SCADA remote network • monitoring system SP PowerGrid Consultancy / Training / Advisory Services Marketing of Proprietary IP Overhead cable operations • Stakeholder management • Water • Third-party contracts • SPI Management Services SPIAA Management Company Network Planning Professional Services SP ANNUAL REPORT 2007 With expanded capabilities, SP can now provide a wide spectrum of professional management and consultancy services 11 BOARD OF DIRECTORS MR NG KEE CHOE Chairman MR ALAN CHAN HENG LOON MR ERIC GWEE TECK HAI SP ANNUAL REPORT 2007 MR HO TIAN YEE MR TAN CHEE MENG, SC 12 MR NG KEE CHOE Mr Ng Kee Choe, 63, is the non-executive Chairman of Singapore Power Limited. He was appointed Director on 1 Sep 2000 and became its Chairman on 15 Sep 2000. He is also the non-executive Chairman of SP AusNet*. Mr Ng’s other current board directorships include his position as Chairman of NTUC Income Insurance Co-operative Limited, President Commissioner of PT Bank Danamon Indonesia Tbk, Director of Singapore Airport Terminal Services Limited and Director of Singapore Exchange Limited. He is also a member of the Temasek Advisory Panel, a member of the International Advisory Council of China Development Bank and Chairman of Tanah Merah Country Club. Mr Ng was the Vice-Chairman of DBS Group Holdings. He retired from his executive position in Jul 03 after 33 years of service with DBS. For his contributions to public service, Mr Ng was conferred the Public Service Star in 2001. MR ALAN CHAN HENG LOON Mr Alan Chan Heng Loon, 55, is a nonexecutive independent Director of Singapore Power Limited. He was appointed Director on 1 Jun 01 and is also the Chairman of SP PowerAssets Limited. Mr Chan is currently the Chief Executive Officer and a Director of Singapore Press Holdings Limited. He is the Chairman of the Urban Redevelopment Authority and SPH Magazines Pte Ltd. He is a member of the Board of Trustees of the Courage Fund, the Board of Governors of The Singapore- China Foundation, INSEAD Singapore Council and INSEAD France. He is also a member of the Casino Regulatory Authority of Singapore. Previously, Mr Chan was the Permanent Secretary for the Ministry of Transport and held directorships in DBS Group Holdings Ltd, The Development Bank of Singapore Ltd and PSA Corporation Ltd. He also sits on the boards of MediaCorp TV Holdings Pte Ltd, MediaCorp Press Ltd, Singapore Press Holdings Foundation Limited, TOM Outdoor Media Group Limited, TP Ventures Pte Ltd, GMM Times Company Limited, Business China, Magazines World Sdn Bhd, Blu Inc Holdings Malaysia Sdn Bhd and Blu Inc Media Sdn Bhd. Mr Chan was awarded the Public Service Medal (Gold) in 2002. MR ERIC GWEE TECK HAI Mr Eric Gwee Teck Hai, 69, is a nonexecutive independent Director of Singapore Power Limited. He was appointed Director on 1 Jan 01. He is the Chairman of SP Services Limited and a Director of SP AusNet*. Mr Gwee is also a Director of WorleyParsons Ltd and the Melbourne Business School Ltd. He was the Chairman of the Board of Governors for the Institute of Technical Education (ITE) and the Public Transport Council. He was also the Chairman of CPG Corporation Pte Ltd and a Director of ExxonMobil Singapore Private Limited till 2001. For his many years of dedicated service to the community, Mr Gwee was awarded the Public Service Star in 1994 and the Public Service Star (Bar)[BBM(L)] in 2004. He was also honoured with the Meritorious Service Medal in 2007. MR HO TIAN YEE Mr Ho Tian Yee, 55, is a non-executive independent Director of Singapore Power Limited. He joined the Board on 1 May 03. Currently, Mr Ho is the Managing Director of Pacific Asset Management (S) Pte Ltd and holds directorships in publicly-listed companies including Fraser and Neave Limited and Singapore Exchange Limited. He is a member of the Risk Committee of The Government of Singapore Investment Corporation Pte Ltd and also the newly appointed Chairman of Times Publishing Limited. Mr Ho was a former director of Great Eastern Holdings Limited, The Overseas Assurance Corporation Limited and The Great Eastern Life Assurance Corporation Limited. He was awarded the Public Service Medal in 1997. MR TAN CHEE MENG, SC Mr Tan Chee Meng, 51, is a non-executive independent Director of Singapore Power Limited. He was appointed Director on 1 Aug 05. He is also a Director of SP PowerAssets Limited. Mr Tan is Head (International Projects) and a Partner of WongPartnership LLP. He was appointed Senior Counsel in Jan 06, and a Specialist Judge in Jul 06. Mr Tan is a Fellow of the Singapore Institute of Arbitrators and an Accredited Adjudicator of the Singapore Mediation Centre. He is a Regional Panel Arbitrator of the Singapore International Arbitration Centre and is on the Panel of Accredited Arbitrators of Badan Arbitrase Nasional Indonesia. Mr Tan also sits on the Board of the National Council of Social Service and is a member of the Board of Governors of St Gabriel’s Foundation. SP ANNUAL REPORT 2007 13 BOARD OF DIRECTORS MR BOBBY CHIN YOKE CHOONG PROF JEREMY GUY ASHCROFT DAVIS AM MR PAUL CHAN KWAI WAH SP ANNUAL REPORT 2007 BG(NS) CHOI SHING KWOK MR QUEK POH HUAT 14 MR BOBBY CHIN YOKE CHOONG MR PAUL CHAN KWAI WAH Mr Paul Chan Kwai Wah, 54, is a nonexecutive independent Director of Singapore Power Limited. He was appointed Director on 1 Aug 06. MR QUEK POH HUAT Mr Quek Poh Huat, 61, was appointed a Director of Singapore Power Limited in Nov 01 and Group Chief Executive Officer in May 04. Mr Bobby Chin Yoke Choong, 56, is a nonexecutive independent Director of Singapore Power Limited. He was appointed Director on 23 Jan 06. Mr Chin is the Chairman of Singapore Totalisator Board. Mr Chin serves on the boards of the Competition Commission of Singapore and several publicly-listed companies including Oversea-Chinese Banking Corporation Limited, AV Jennings Limited, Yeo Hiap Seng Ltd, Ho Bee Investment Limited and Neptune Orient Lines Limited. He also sits on the Board of Trustees of the Singapore Indian Development Association (SINDA). Mr Chin was the Managing Partner of KPMG Singapore from 1992 to 2005. He served as Chairman of the Urban Redevelopment Authority from Apr 01 to Mar 06. In 2003, Mr Chin was awarded the Public Service Medal. PROF JEREMY GUY ASHCROFT DAVIS AM Prof Jeremy Guy Ashcroft Davis, 65, is a non-executive independent Director of Singapore Power Limited. He was appointed Director on 1 Aug 06 and is also a Director of SP AusNet*. Prof Davis is the Chairman of UNSW Professorial Superannuation Pty Ltd and the Deputy Chairman of AMWIN Management Pty Ltd. He currently serves as a Director of the Transurban Group, CHAMP Ventures Pty Ltd, Australian Institute of Management NSW & ACT Ltd and the Australian Institute of Management Canberra. He was the former AMP Society Professor at the Australian Graduate School of Management. Prof Davis earlier spent 10 years as a management consultant with the Boston Consulting Group. He also served as a Director of the Australian Stock Exchange from 1990 to 1996, and as a Director and Chairman of AIDC Limited and Amdel Holdings Pty Ltd. He is a Director of Verigy Ltd, SIA Engineering Company Limited and National Healthcare Group Pte Ltd. He was a former Director of the Singapore Economic Development Board, Noel Gifts International Ltd and Singapore Telecommunications Limited. Mr Chan was formerly the Senior Vice President & Managing Director (Asia Pacific & Japan) of Hewlett-Packard Asia Pacific Pte Ltd and the Vice President & Managing Director (Asia Pacific) of Compaq Computer Asia Pacific Pte Ltd. He was also a member of the Tax Review Committee, Ministry of Finance and the Listings Committee of the Stock Exchange of Singapore. Mr Chan was also on the Advisory Board of the Lee Kong Chian School of Business at the Singapore Management University. Mr Chan was awarded the Public Service Star (PBM) in 2005. BG(NS) CHOI SHING KWOK BG(NS) Choi Shing Kwok, 48, is a nonexecutive independent Director of Singapore Power Limited. He was appointed Director on 1 Aug 06. He is currently the Permanent Secretary of the Ministry of Transport. He was formerly a Director of Singapore Technologies Electronics Limited, Sembawang Resources Development Corporation Ltd, Singapore Automotive Engineering Ltd and Chartered Ammunition Industries Pte Ltd. He also served as a member of the National University of Singapore Council, the Singapore Broadcasting Authority and the Jurong Town Corporation. BG(NS) Choi was awarded the Meritorious Service Medal in 2000 and the Long Service Award (25 years) in 2004 by the Government of Singapore, and has also received state awards from foreign governments. Within the Singapore Power Group, Mr Quek serves as Director on the boards of SP PowerAssets Limited, SP Services Limited and SP AusNet*. He is currently also Chairman of SP PowerGrid Limited, PowerGas Limited, SPI Management Services Pty Ltd and SPI (Australia) Assets Pty Ltd. He is a board director of publiclylisted Singapore Technologies Engineering Ltd. Mr Quek is Singapore’s non-resident Ambassador to Sweden. He was conferred the Public Service Star in 1994. * A stapled group comprising SP Australia Networks (Transmission) Ltd, SP Australia Networks (Distribution) Ltd and SP Australia Networks (Finance) Trust, acting through its responsible entity, SP Australia Networks (RE) Ltd. It is dual listed on the Australian Stock Exchange and the Singapore Exchange Securities Trading Limited. As at 9 May 08 SP ANNUAL REPORT 2007 15 organisational structure Board of Directors Chairman Mr Ng Kee Choe Nominating Committee Chairman Mr Alan Chan Heng Loon Staff Development & Compensation Committee Chairman Mr Ng Kee Choe Finance Committee Chairman Mr Ng Kee Choe Audit Committee Chairman Mr Bobby Chin Yoke Choong Risk Management Committee Chairman Mr Ho Tian Yee Head (Internal Audit) Ms Madalene Hee Subsidiaries’ Internal Audit Group Chief Executive Officer Mr Quek Poh Huat General Counsel & Company Secretary Ms Chi Ping Huey Chief Operating Officer Mr Ong Boon Hwee Chief Financial Officer Mr Yap Chee Keong Managing Director SPI Management Services & SP AusNet Mr Nino Ficca Chief Executive Officer SPI (Australia) Assets Mr Peter Magarry SP ANNUAL REPORT 2007 16 Managing Director SP PowerGrid Mr Sim Kwong Mian Human Resource & Administration Information Systems Corporate Communications SP Global Solutions Managing Director PowerGas Mr John Baptist Tay Managing Director SP Services Mr Wong Chit Sieng Managing Director Strategic Investments & Deputy CEO SPI (Australia) Assets Mr Lim Howe Run Managing Director Australia Investments Mr Jimmy Khoo Finance • Financial Management & Planning • Group Accounts • Group Tax • Risk Management • Settlements • Treasury Subsidiaries’ Finance Group Risk Management Reports to Risk Management Committee Subsidiaries’ Risk Management corporate governance ETHICS & ACCOUNTABILITY The SP Board is solidly committed to good corporate governance. The principles set out in the revised Code of Corporate Governance 2005 (the Code) for listed companies are followed closely by the Company. The Company has used the Code as its guide and best practice standard and has put in place an internal framework to ensure good corporate governance in its business practices and activities. independent professional advice to carry out their duties, the Company will arrange to appoint, at the Company’s expense, a professional advisor to render due advice. Accountability In presenting the annual financial statements to the shareholder, the Board aims to provide the shareholder with a balanced and comprehensive assessment of the Group’s position and prospects. The Whistleblower Policy, which was launched in 2005, strengthens ethical business conduct in the Group. The Group endeavours to enhance shareholder value by ensuring the highest standards of corporate governance, transparency and accountability. Setting Directions The Board provides broad strategic directions for the Group and undertakes key investment and funding decisions. In addition, the Board ensures that Management maintains a robust system of internal controls to protect the Group’s assets and reviews the Group’s financial performance. The Board meets at least four times a year to review the Group’s business performance. In the last financial year, the Board met five times and held a Board Strategic Retreat. In addition, the Board Steering Committee and Due Diligence Committee were set up for special projects such as the acquisition of Alinta Assets. Access To Information The Board is provided with relevant information prior to Board meetings and on an on-going basis. Board papers include management financial reports, annual budgets and performance against budget, announcement of results, matters requiring Board’s decision, updates on key outstanding issues and disclosure documents as well as updates on new legislative developments. Newly-appointed Board Directors attend an orientation programme to familiarise themselves with the Group’s business and governance practices. The Group also provides on-going education on legislative updates and best practices. The Board also has separate and independent access to Senior Management and the Company Secretary. Should the Directors, whether as a group or individually, require Management provides the Board with appropriately detailed management accounts of the Group’s performance, prospects and a risk dashboard on a monthly basis. There is a strong element of independence in the Board composition – independent non-executive Directors constitute more than three-quarters of the entire Board. The independence of each Director is reviewed annually by the Nominating Committee in accordance with the Code. The current size of 10 Board members is appropriate for effective decision-making, taking into account the scope and nature of the Group’s operations. Collectively, the Directors have a wealth of expertise and experience in the management of business at senior and international levels. SP AusNet as a publicly-listed stapled entity on the Australian Stock Exchange and the Singapore Exchange Securities Trading Limited, has established its own Audit and Risk Management Committee, Nomination and Remuneration Committee as well as Compliance Committee to ensure a high standard of corporate governance. Board Committees The SP Board is supported by specialised board committees to facilitate effective supervision of Management. These are the Audit Committee, the Risk Management Committee, the Finance Committee, the Nominating Committee and the Staff Development and Compensation Committee. As and when required for specific projects such as the acquisition of Alinta Assets, special board steering committees and due diligence committees have been constituted to provide support and guidance to Management. SP ANNUAL REPORT 2007 17 corporate governance Audit Committee The Audit Committee (AC) comprises four non-executive Directors, all of whom are independent Directors as defined in the Code. The Board is of the view that the members of the AC have the financial management expertise and experience to discharge the AC’s responsibilities. The main function of the AC is to assist the Board in discharging its statutory and oversight responsibilities relating to the financial reporting and audit processes, the systems of internal controls and the process of monitoring compliance with the applicable laws, regulations and codes of conduct. The AC holds at least three meetings each year and is responsible for the following: • review and approval of the audit plans of external and internal auditors; • review of the adequacy of the internal audit function; • review of the financial accounts of the Group and the Company; • review of the independence and objectivity of the external auditors; and • nomination of external auditors for re-appointment. The members are: Mr Bobby Chin Yoke Choong (Chairman wef 27 Jul 07) Mr Tan Chee Meng BG(NS) Choi Shing Kwok Mr Timothy Chia Chee Ming (co-opted external member) The RMC meets at least three times a year. The members are: Mr Ho Tian Yee (Chairman) Mr Paul Chan Kwai Wah Mrs Oon Kum Loon (co-opted external member) Mr Quek Poh Huat (ex-officio)* The RMC is supported by the Group Risk Management Office in its governance of SP Group risks. Although the risk management responsibilities of the Board are executed through the organisational set-up mentioned above, the ultimate risk ownership rests with the business groups. Finance Committee The Finance Committee (FC) assists the Board to review proposed mergers, acquisitions, disposals and corporate restructuring and financing for the SP Group. The responsibilities of the FC are to: • consider and recommend, for the Board’s approval, SP’s annual operating and capital expenditure budgets and business plans; • approve or endorse mergers, acquisitions, divestments or corporate restructuring; • approve or endorse SP’s borrowings and financings; and • approve or endorse such other matters as provided from time to time in the Authority Manual of SP Board. SP ANNUAL REPORT 2007 18 Risk Management Committee The Risk Management Committee (RMC) assists the Board in fulfilling its oversight responsibilities. The RMC reviews and approves: • the type and level of business risks (risk appetite) that the Company, its subsidiaries and associated companies undertake on an integrated basis to achieve their business strategy; and • the Group-wide risk policies, procedures and methodologies for identifying, measuring, monitoring and managing risks that are consistent with its risk appetite. * Non-independent The FC holds at least two meetings a year. The members are: Mr Ng Kee Choe (Chairman)* Mr Ho Tian Yee Mr Eric Gwee Teck Hai Mr Quek Poh Huat* Nominating Committee The Nominating Committee (NC) is responsible for formulating policies and guidelines on matters relating to Board appointments, re-appointments, retirement and rotation of Directors. The Directors’ performance, contribution and independence are taken into consideration in the NC’s review and assessment. The NC, in consultation with the Chairman of the Board, considers and makes recommendations to the Board concerning the appropriate size and needs of the Board. New Directors are currently appointed by way of a Board resolution after the NC has endorsed their appointment. The new Directors must submit themselves for re-election at the next Annual General Meeting (AGM) of the Company pursuant to the Articles of Association of the Company. The Articles of Association of the Company also requires not less than one-third of Directors to retire by rotation at every AGM. The NC meets at least twice a year. The NC comprises three Directors. The Chairman of the NC is an independent non-executive Director. The members are: Mr Alan Chan Heng Loon (Chairman) Mr Ng Kee Choe* Mr Quek Poh Huat * Staff Development & Compensation Committee The Staff Development and Compensation Committee (SDCC) oversees the remuneration of the Group Chief Executive Officer and senior executives. The SDCC establishes and maintains an appropriate and competitive level of remuneration to attract, retain and motivate senior executives to manage the Group successfully. No Director is involved or has participated in any proceedings in respect of his own remuneration. The SDCC meets at least twice a year. The SDCC comprises three Directors, two of whom are independent Directors. The members are: Mr Ng Kee Choe (Chairman)* Mr Alan Chan Heng Loon Mr Bobby Chin Yoke Choong Communication With Shareholder The Company values communication and ensures that timely and adequate disclosures of material information on the Company are made available to the shareholder, and has regular dialogue and liaison with the shareholder. Board Composition Board Members Audit Risk Finance Nominating Staff Committee Management Committee Committee Development & Committee Compensation Committee Mr Ng Kee Choe, Chairman - - Chairman Member Chairman Mr Alan Chan Heng Loon - - - Chairman Member Mr Eric Gwee Teck Hai - - Member - - Mr Ho Tian Yee - Chairman Member - - Mr Tan Chee Meng Member - - - - Mr Bobby Chin Yoke Choong Chairman - - - Member Prof Jeremy Guy Ashcroft Davis - - - - - Mr Paul Chan Kwai Wah - Member - - - BG(NS) Choi Shing Kwok Member - - - - Mr Quek Poh Huat - Ex-officio Member Member - Board Committee Members Mr Timothy Chia Chee Ming Co-opted - - - - Member Mrs Oon Kum Loon - Co-opted - - - Member SP ANNUAL REPORT 2007 19 *Non-independent senior management MR QUEK POH HUAT Group Chief Executive Officer MR YAP CHEE KEONG Chief Financial Officer MR ONG BOON HWEE Chief Operating Officer SP ANNUAL REPORT 2007 20 MR SIM KWONG MIAN Managing Director SP PowerGrid MR NINO FICCA Managing Director SPI Management Services & SP AusNet MR PETER MAGARRY Chief Executive Officer SPI (Australia) Assets Mr Quek Poh Huat Mr Ong Boon Hwee Mr Ong Boon Hwee, Chief Operating Officer, oversees SP’s main business units in Singapore, corporate services and business development initiatives in the region. Mr Nino Ficca Mr Nino Ficca, Managing Director, SPI Management Services, is also Managing Director, SP AusNet. He is also a Director of SP Australia Networks (Transmission), SP Australia Networks (Distribution), SP Australia Networks (RE) and SP PowerGrid, as well as Managing Director of SPI PowerNet. Mr Quek Poh Huat, Group Chief Executive Officer, is Chairman of SP PowerGrid Limited and PowerGas Limited, and a Director on the boards of Singapore Power Limited, SP PowerAssets Limited and SP Services Limited. At the Group’s Australian operations, he is Chairman of SPI Management Services Pty Ltd and SPI (Australia) Assets Pty Ltd and a Director of SP AusNet.* Mr Quek has a Bachelor of Science (Chemical Engineering) degree with First Class Honours from University of Leeds, UK and a Master of Science (Management) with Distinction from the Naval Postgraduate School, Monterey, US. He has also completed the Advanced Management Program from the Harvard Business School, US. Mr Yap Chee Keong Mr Yap Chee Keong, Chief Financial Officer, is responsible for providing financial strategy and leadership throughout the Group. This includes overseeing the corporate finance, treasury, financial management, tax planning and risk management functions. He is also responsible for corporate planning and strategic investments. Prior to joining SP, he was part of Temasek’s senior management as Managing Director for Temasek’s Strategic Projects and Strategic Relations and CEO of Temasek Management Services. Mr Ong is Director of ST Kinetics, Aetos Security Management and Singapore Institute of Management. He also serves on the committees of non-profit organisations such as National Volunteer & Philanthropy Centre, A*STAR Audit Committee, Temasek Foundation, Singapore Millennium Foundation and ST Endowment Programme. Mr Ong graduated from the National University of Singapore with a First Class Honours in Economics, and holds a Masters in Military Art & Science from the US Leavenworth General Staff College. Mr Sim Kwong Mian Mr Sim Kwong Mian, Managing Director, SP PowerGrid, has been with SP for 13 years. Prior to this, he was with the Public Utilities Board for 18 years. Mr Ficca has worked in the energy industry for over 25 years, including in a number of senior management roles. He has been a Director and Deputy Chairman of the Energy Supply Association of Australia until Dec 07, and a member of the National Electricity Market Operations Committee. Mr Ficca holds a Bachelor of Engineering (Electrical) Honours degree and a Graduate Diploma in Management from Deakin University, Australia. Mr Peter Magarry Mr Peter Magarry, Chief Executive Officer, SPI (Australia) Assets, was previously Chief Operating Officer, Alinta Asset Management and General Manager, Alinta Network Services. Prior to joining the company, he was General Manager, TXU Networks. Prior to joining SP, Mr Yap worked with multinational, listed and private companies as Chief Financial Officer and in other senior management positions. Mr Yap has a Bachelor of Accountancy degree from the National University of Singapore and is a Fellow of the Institute of Certified Public Accountants of Singapore. Mr Sim represents Singapore in the Heads of ASEAN Power Utilities/Authorities, which leads the power interconnection project to link the member countries’ electricity networks. He also represents Singapore in the Association of Electricity Supply Industry of East Asia and Western Pacific (AESIEAP). Mr Sim is a registered Professional Engineer with the Professional Engineers Board, Singapore, and a Senior Member of the Institution of Engineers, Singapore. He holds a Bachelor of Engineering (Electrical) degree from the University of Singapore, a Master of Science (Electrical) from the University of Manchester Institute of Science & Technology, UK and a Diploma in Management Studies from the Singapore Institute of Management. He has also completed the Advanced Management Program at the Harvard Business School, US. Mr Magarry has over 35 years’ experience in the energy industry in Australia. He holds an Australian Institute of Company Directors’ Diploma, as well as an Associate Diploma in Electrical Engineering (Power) from Queensland Institute of Technology, Australia. * A stapled group comprising SP Australia Networks (Transmission) Ltd, SP Australia Networks (Distribution) Ltd and SP Australia Networks (Finance) Trust, acting through its responsible entity, SP Australia Networks (RE) Ltd. It is dual listed on the Australian Stock Exchange and the Singapore Exchange Securities Trading Limited. SP ANNUAL REPORT 2007 21 senior management MR JOHN BAPTIST TAY Managing Director PowerGas MR WONG CHIT SIENG Managing Director SP Services & Head (Information Systems) MS CHI PING HUEY General Counsel & Company Secretary MR LIM HOWE RUN Managing Director Strategic Investments & Deputy CEO SPI (Australia) Assets SP ANNUAL REPORT 2007 22 MRS LYNN LOH Head (Human Resource & Administration) MR JIMMY KHOO Managing Director Australia Investments Mr John Baptist Tay Mr John Baptist Tay, Managing Director, PowerGas, is responsible for the entire gas transportation business of the company. For the last 31 years, he has been involved in various aspects of the gas business, including commercial and industrial gas utilisation, metering, network planning and development. A Professional Engineer in Mechanical Engineering, Mr Tay graduated with a First Class Honours degree in Mechanical Engineering from Sheffield University, UK. Mr Wong Chit Sieng Mr Wong Chit Sieng, Managing Director, SP Services, and Head (Information Systems), has over 29 years’ experience in strategic business IT planning and the development and management of banking application systems. Before joining SP, Mr Wong was Director of Operations and Principal Consultant, Asia Pacific & Japan, at a US banking software company. He was also with Overseas Union Bank for nine years as its Senior Vice President & Deputy CIO, and as Vice President at Chase Manhattan Bank for 10 years. Mr Wong has a Bachelor of Business Administration degree with Distinction and a Master of Business Administration from the Royal Melbourne Institute of Technology, Australia. Ms Chi Ping Huey Ms Chi Ping Huey, General Counsel & Company Secretary, provides legal advice on all the Group’s major M&A deals including the acquisition of SPI (Australia) Assets in 2007. She is responsible for implementing policies involving board governance and reviews complaints under the Whistleblower policy for submission to the Audit Committees. Prior to joining SP, Ms Chi held various senior positions in Singapore Technologies Group including Head (Legal) at Singapore Aerospace Limited. She has more than 20 years of legal experience which spans negotiations with military and commercial customers, M&As, banking projects and a working stint with leading aviation insurance brokers and underwriters in The Lloyds/London. She began her career with a major local bank and has also been in private practice. Ms Chi is a member of the Singapore Law Academy. An OCBC scholar, she has a Bachelor of Law degree with Honours from the National University of Singapore and was admitted as an Advocate and Solicitor to the Supreme Court in 1985. Mr Lim Howe Run Mr Lim Howe Run, Managing Director, Strategic Investments and Deputy CEO, SPI (Australia) Assets, is responsible for the management of SP’s overseas investments. Prior to his appointment as Managing Director and Deputy CEO, he has held various positions in risk management, asset management and business development within the Group. Mrs Lynn Loh Mrs Lynn Loh, Head (Human Resource and Administration), has over 20 years’ experience in human resource. Before joining the Group, she was with the Central Provident Fund Board, Changi International Airport Services, PepsiCo Group International and Singapore General Hospital. She is Vice President on the Council of Singapore Human Resource Institute and a National Assessor for the People Developer Standard. She is also a member of the Manpower Skills and Training Council of Singapore Workforce Development Agency, a statutory board under the Ministry of Manpower. Mrs Loh was also a member of the Government Parliamentary Committee for Manpower. Mrs Loh holds a Bachelor of Arts degree majoring in Economics from the National University of Singapore and a Master of Business Administration (Accountancy) from Nanyang Technological University. Mr Jimmy Khoo Mr Jimmy Khoo, Managing Director, Australian Investments, works closely with SP’s Australian subsidiaries to achieve corporate objectives. Prior to joining SP, Mr Khoo held senior management positions in various government organisations. He has extensive experience in strategy and planning, IT and technology development. Mr Khoo holds a Master of Business degree from Stanford University, US and a Master of Arts from Oxford University, UK. Mr Lim holds a Bachelor of Engineering (Mechanical) degree from the National University of Singapore. He is also an alumni of the Harvard Business School, US. As at 17 Jun 08 SP ANNUAL REPORT 2007 23 operations review SP ANNUAL REPORT 2007 24 SINGAPORE OPERATIONS SP ANNUAL REPORT 2007 25 operations review SP POWERASSETS DEVELOPING INFRASTRUCTURE FOR FUTURE GROWTH SP ANNUAL REPORT 2007 Cable tunnels being constructed for the installation of transmission cables 26 SP PowerAssets is the sole provider of electricity transmission and distribution services in Singapore. Its S$6.8 billion fixed asset base comprises modern and robust networks at 400kV, 230kV and 66kV for transmission, and 22kV, 6.6kV and 400V for distribution. During the year in review, SP PowerAssets continued its intensive network infrastructure development, planning for additional capacity to meet the growing power needs of the Singapore economy. Investments were made to expand the transmission and distribution infrastructure. At the same time, progressive upgrading and renewal of existing equipment were carried out to ensure the continuity of the electricity grid’s excellent track record of high reliability. • The tunnel breakthrough for Harbour Drive-Labrador cable tunnel was achieved in Feb 08. This will enable the installation of 400kV and 230kV circuits to bring more power from the western to the central part of Singapore by 2009. • A 400kV circuit is being installed to further reinforce the 400kV transmission connection to the East. It will be commissioned by end 2008. • Three 230kV substation buildings are being constructed at Labrador, Marina South and Choa Chu Kang as part of the 230kV network development to cater for increasing load demand and renewal works. • Three 230/66kV 200MVA transformers were commissioned to meet load growth while six 230kV circuits are being installed to further enhance network security. • Several existing 66kV substations are being progressively upgraded as part of a network renewal programme to enhance reliability and maintain leading network performance. New substations being constructed to meet increasing load growth SP PowerAssets is also working on the development of two major cable tunnels for the future installation of transmission cables on the island. The project comprises a 17 km East-West tunnel and an 18 km North-South tunnel. These tunnels will accommodate multiple 400kV and 230kV circuits and are scheduled for completion in 2015. The tunnels will provide secure corridors for faster and more efficient installation of transmission cables as they avoid the problem of underground congestion from the various infrastructure services. Inconvenience to the public and road users will also be minimised as no excavation will be needed to lay new cables. Generally, cables installed in tunnels are more reliable as they are not exposed to the environment and are not vulnerable to excavation damage. Integrated Asset Management SP PowerAssets depends on an integrated approach in the lifecycle management of its network assets, balancing the need to maintain excellent network reliability with cost effectiveness. Its framework for optimising the lifecycle management of its asset base is guided by its Asset Management Policy manual. SP ANNUAL REPORT 2007 27 operations review SP POWERGRID MANAGEMENT MR SIM KWONG MIAN Managing Director MR CHANG SWEE TONG Deputy Managing Director MR CHENG SEE TAU General Manager (Network Management) MR CHAN ENG KIAT General Manager (Network Planning) MR LOY SAI CHIN Acting General Manager (Network Development) MR CHUNG CHOON HEONG General Manager (Projects) MR HAN TEK FONG Director (Asset Management) DR YOON KOK THEAN Director (Procurement) MR LAW CHIN HO Director (Finance) & Head (Regulatory) MR ALBERT TEOW Director (Corporate Services) SP ANNUAL REPORT 2007 28 SP POWERGRID DELIVERING EXCELLENT PERFORMANCE An engineer checks a 66kV switchboard SP PowerGrid manages and operates the transmission and distribution assets of SP PowerAssets. In FY 07/08, according to international indices that measure electricity grid reliability, Singapore continued to be one of the global leaders in delivering excellent network performance. SP PowerGrid’s SAIDI (System Average Interruption Duration Index) score of 1.14 minutes and SAIFI (System Average Interruption Frequency Index) score of 0.02 showed that it continued to outperform its peers operating comparable underground networks. SAIDI measures the average duration of unplanned interruptions a consumer experiences in a year and SAIFI, the average number of such interruptions. SP PowerGrid’s network performance for FY 07/08 was well within the regulatory targets and better than the previous year’s. The exceptional performance was due to its strategic use of state-of-the-art equipment and cable condition monitoring technology, rigorous quality processes, and investment in network infrastructure and staff expertise. Condition Monitoring Technology SP PowerGrid’s comprehensive efforts in condition monitoring continued to contribute to better performance with 69 potential failures averted in FY 07/08. The Oscillating Wave Test System has prevented 74 potential 22kV and 6.6kV cable failures since it was introduced in Jan 06. SP PowerGrid collaborated with an international research centre to become the first to apply the technology in underground distribution cable inspection. Today, the oscillating wave test equipment is installed in specially designed vans to make it easy for its engineers to carry out site tests on underground cables in various parts of the island. SP ANNUAL REPORT 2007 29 operations review SP POWERGRID Singapore Has One Of World’s Best Performing Electricity Networks With The Fewest And Shortest Outages Of Cities Worldwide Interruption minutes per customer per year 10 SYSTEM AVERAGE INTERRUPTION DURATION INDEX (SAIDI - Singapore) Interruptions per customer per year 0.120 0.12 SYSTEM AVERAGE INTERRUPTION FREQUENCY INDEX (SAIFI - Singapore) 8 6 4 2 0 5.36 FY 97/98 3.98 4.00 3.85 FY 98/99 FY 99/00 FY 00/01 2.20 FY 01/02 1.99 2.25 FY 02/03 FY 03/04 5.37 FY 04/05 0.47 FY 05/06 1.21 1.14 FY 06/07 SAIDI measures the average duration of unplanned interruptions a consumer experiences in a year FY 07/08 0.10 0.08 0.06 0.04 0.02 0 FY 97/98 FY 98/99 0.090 0.073 FY 99/00 0.071 FY 00/01 0.053 FY 01/02 0.097 FY 02/03 0.041 FY 03/04 0.097 FY 04/05 FY 05/06 0.011 SAIFI measures the average number of unplanned interruptions a consumer experiences in a year 0.031 FY 06/07 0.023 FY 07/08 Key Network Indicators - Singapore POWERING ECONOMIC GROWTH Real GDP vs Electricity Demand Growth (% Change) POWERING DELIVERY Electricity Transmitted And Distributed (GWh) SP ANNUAL REPORT 2007 30 % Change Year-On-Year 10 8 6 4 2 0 -2 -4 1.6 -2.4 5.0 4.2 3.5 2.4 9.0 7.3 4.6 4.4 01 02 03 04 05 06 07 8.2 3.3 7.7 4.2 Real GDP Growth (%) Sales Growth (%) GWh 38,000 36,500 35,000 33,500 32,000 30,500 29,000 FY 01/02 31,446 29,960 FY 02/03 32,199 FY 03/04 33,635 FY 04/05 34,995 FY 05/06 36,287 FY 06/07 37,838 FY 07/08 The cutting-edge Oscillating Wave Test equipment helps engineers monitor the condition of cables Condition monitoring technology will continue to be a key strategic tool in maintaining the superior performance of Singapore’s fully underground cable network, and SP’s competitive edge in international projects. Remote Monitoring Of Distribution Network A wireless SCADA (Supervisory Control and Data Acquisition) system was commissioned in Mar 07 to extend remote monitoring to the 6.6kV distribution network. From a control centre, the system can remotely monitor the status of substation equipment and provide real-time information on faulty equipment or cables to field engineers. This will enable faster response for supply restoration. As part of the project, substations supplying power to high density residential areas have been identified for installation of the wireless monitoring system. Fitting out works have commenced and will be completed by end 2009. Faster Mobile Generator Teams In Apr 07, SP PowerGrid reorganised its mobile generator standby teams to work on three shifts and decentralised the mobile generators to four sites on the island. This initiative has shortened supply restoration time by up to 30 minutes. Building Customer Relationships During the year in review, SP PowerGrid extended its Power Quality Interest Group programme from the hightech manufacturing sector to the service industry. These interest groups meet regularly to share experiences in power quality management, the latest equipment and technologies. They form part of SP PowerGrid’s strategy of powering the economy by working closely with key industry groups to manage power quality together. SP ANNUAL REPORT 2007 31 operations review SP POWERGRID With support from the Monetary Authority of Singapore and The Association of Banks, the interest group for the banking industry held its first meeting in Oct 07. The response from the banks was encouraging. In FY 07/08, SP PowerGrid held five meetings for the Semiconductor and Electronics, Pharmaceutical, and Chemical and Petrochemical groups. Power Quality Workshop SP PowerGrid conducted its fourth annual Power Systems Reliability & Quality Workshop in Feb 08. Fifty-two participants from manufacturing companies and government agencies learnt more about the latest technology and practices in maintenance, power quality and condition monitoring. Power quality is crucial in Singapore due to the large number of high tech industries with voltage sensitive equipment. At cutting-edge semiconductor wafer fabrication companies, pharmaceutical and petrochemical plants, a dip in the supply voltage for a fraction of a second can cause production stoppages. SP PowerGrid supports the growth of key industries in the country by working closely with the companies to help them achieve optimal power quality. At the workshop, participants also had the opportunity to try out condition monitoring equipment, harmonics and voltage dip mitigation devices. Checking the switchgear at a substation SP ANNUAL REPORT 2007 32 The Geographical Mapping System provides real-time information on all electrical facilities on the island for SP PowerGrid staff ISO Certification SP PowerGrid obtained its ISO 9001:2000 certification in 2002. During the year in review, SP PowerGrid continued to comply with the ISO 9001:2000 standards for the development and management of its transmission network and achieved ISO 9001:2000 for the development and management of its distribution network. The Distribution Control & Customer Service section also achieved ISO 9001:2000 certification in Apr 07 for the operation, control and monitoring of the distribution network as well as the management of network incidents and customer calls. These certifications affirm SP PowerGrid’s institutionalised quality processes that drive consistently high performance standards. Preventing Cable Damage To enhance cable damage prevention efforts, cable protection management teams were formed for major worksites in the vicinity of underground 230kV and 400kV cables. The teams of managers from SP PowerGrid, principals and contractors meet regularly to discuss earthworks’ status and preventive measures to be taken at the worksites. The increased communication among the various parties has improved the coordination of joint efforts to avoid inadvertent cable damage. SP ANNUAL REPORT 2007 33 operations review POWERGAS MANAGEMENT MR JOHN BAPTIST TAY Managing Director MR CHIN TERK CHUNG Director (Network Management) MR BANNY KOH SIEW LIM Director (Network Development) MR TAI SENG CHONG Director (System Operation) MR LIM SONG HAU Director (Technical Projects) MR ONG MIN SING Director (LNG Project) SP ANNUAL REPORT 2007 34 POWERGAS EMPOWERING THE FUTURE Ensuring highly reliable gas supply PowerGas owns and operates the gas transmission and distribution network in Singapore. This includes two onshore receiving facilities for the receipt of gas from Sumatra and Malaysia, and over 2,800 km of pipelines. PowerGas focuses on ensuring the efficient and reliable delivery of natural gas to power generation companies and industrial plants, and town gas to commercial and residential customers. The year in review saw PowerGas develop an IT system for the commencement of the new gas framework. Major pipeline extensions were also completed to deliver gas to new areas of industrial and population growth. Major Transmission Projects PowerGas continued to expand its gas transmission infrastructure to serve major industrial customers in Jurong and Tuas. Its transmission pipeline to deliver natural gas to the Pfizer tri-generation plant in Tuas South was completed in Oct 07. In Jan 08, PowerGas began operating the Attap Valley Onshore Receiving Facility, which receives natural gas from Malaysia through an undersea pipeline from the international border to Singapore. This follows the restructuring and liberalisation of Singapore’s gas market where PowerGas as the Transporter is slated to own and manage the entire gas pipeline network. SP ANNUAL REPORT 2007 35 operations review POWERGAS Pipeline extension involving hot-tapping works to connect a branch line to the North-South transmission pipeline was completed in Jan 08. The new pipeline delivers natural gas to the Mandai Compressed Natural Gas (CNG) refuelling station, which is owned and operated by a taxi company. Vehicles that use CNG as fuel emit less pollution. Pressure Uprating And Volume Controls The installation of the First Stage Filter and Pressure Regulation in the Sakra Onshore Receiving Facility (ORF) was completed in Apr 08. This involves upgrading the pressure rating of the Sakra ORF to the same pressure rating as upstream facilities. Volumetric control is also being installed at Sakra ORF to prepare for the implementation of the Gas Network Code. The volumetric control will enable the injection of precise volumes of gas into the gas network according to the shippers’ quantity specifications. Expanding The Distribution Network At the distribution level, expansion of the natural gas network continued with the installation of a further 4.1 km of pipelines to serve several industrial customers. These included a semiconductor wafer fabrication plant in Woodlands Tech Park which was commissioned in Mar 08. The ultrasonic meter measures natural gas volumes FY 07/08 also saw the renewal and reinforcement of 15 km of pipelines and the diversion of 4.3 km of pipelines affected by the Mass Rapid Transit extension works. SP ANNUAL REPORT 2007 36 Two new offtake stations were also built to inject more gas into the distribution network to meet increasing demand. Enhancing The Town Gas Network During the year in review, the town gas network was extended to reach more customers in new public housing estates as well as private condominiums and commercial buildings. In Nov 07, a new supply pipeline was built in Changi to deliver town gas to several commercial customers. Increased Metering Capabilities PowerGas’ meter calibration facility was accredited under the Singapore Accreditation Council-Singapore Laboratory Accreditation Scheme for volumetric gas meters in Oct 07. The meter laboratory is the only certified third party gas meter calibration facility in Southeast Asia. With the accreditation, PowerGas can now test and calibrate gas meters for its industrial customers with flow ranges up to 2,500 cubic metres per hour. Calibrating gas meters at the Meter Laboratory New Gas Industry Framework PowerGas has developed a web-based IT system called the Gas Transportation System Solution (GTSS) to manage the transportation of natural gas according to the rules of the Gas Network Code. Training on the system for market participants has been completed. The IT system is undergoing operational trial which is expected to end in the third quarter of 2008. terminal, including basic design and front-end engineering to prepare the tender specifications. The proposed terminal will initially be designed with a capacity of three million tonnes a year, with provision to expand to double this capacity. The complex will include a jetty, unloading facilities, storage tanks, regasification equipment and associated civil and utilities infrastructure. LNG Terminal In Sep 07, the Ministry of Trade and Industry designated PowerGas as developer, owner and operator of Singapore’s first Liquefied Natural Gas (LNG) terminal. It cited synergistic benefits for PowerGas to operate the proposed terminal on Jurong Island, given its current role as the gas transporter and system operator in Singapore. PowerGas subsequently concluded a LNG Terminal Agreement with the Energy Market Authority in Apr 08. It has begun various work streams on the proposed LNG Ensuring High Reliability To maintain PowerGas’ track record of exceptional reliability in gas delivery, rigorous cathodic protection audits are carried out throughout the year to ensure that its underground transmission pipelines are adequately protected from corrosion. SP ANNUAL REPORT 2007 37 operations review SP SERVICES MANAGEMENT MR WONG CHIT SIENG Managing Director MRS JEANNE CHENG Deputy Managing Director MR LAWRENCE LEE Acting Director (Operations) MS LILY TAN Acting Director (Information Systems) MR HEY BONG KOI Head (Finance & Accounts) SP ANNUAL REPORT 2007 38 SP SERVICES PROVIDING CUSTOMER CHOICE Customer Service Officers at the Integrated Call Centre attend to the service needs of over one million customers As a Market Support Services Licensee, SP Services plays a key role in facilitating competition in the liberalising electricity retail market. Close to 70 per cent of the total electricity demand is today open for competition. Of the 8,500 contestable customers, about one-third are buying electricity from the wholesale market through SP Services while the rest are purchasing from the electricity retailers. To promote customer choice, SP Services registers consumer accounts and enables them to switch seamlessly among retailers, and between buying from the wholesale electricity market and retailers. It also provides billing, meter reading and data management services for the entire electricity market. SP Services continues to supply electricity to smaller consumers, such as commercial businesses and households, at tariff rates approved by the Energy Market Authority (EMA). Consumers enjoy a convenient ‘one-stop’ service for all their utility needs. As a billing agent, SP Services provides efficient customer services, consolidated billing and payment collection on behalf of the various utility service providers such as the Public Utilities Board, City Gas, and refuse collection companies. Using Technology To Improve Services During the year, SP Services continued to tap on technology to re-engineer some of its processes, and improve customer service and convenience. Recognising the widespread use of SMS messaging, the company introduced a new channel for customer communications. Consumers can now use SMS to request for their utility supplies to be connected. SP Services extended its customer hotline operating time by four hours daily with new telephone technologies. Its service officers now answer customers’ calls from their homes after office hours. SP ANNUAL REPORT 2007 39 operations review SP SERVICES Achieving customer service satisfaction is a priority Its interactive voice response telephone system was upgraded to provide more helpful information, and was put through a series of tests for user-friendliness before it was launched. The tablet PC enables real-time communication with back-end staff for better customer servicing the company as the best among major service providers in Singapore. The survey saw SP Services’ customer satisfaction rating rise 11 percentage points to 88 per cent compared to the previous year. SP ANNUAL REPORT 2007 40 SP Services also increased the number of service counters at its Customer Service Centre in Toa Payoh. The new centre provides a friendly environment with improved layout and queue management system. The company’s Pay-As-You-Use scheme has expanded to more than 13,500 active accounts. First introduced in 2005, the programme helps customers with arrears better manage their consumption while paying their bills over time. Higher Customer Satisfaction SP Services’ passionate efforts to provide exceptional customer service were well appreciated. In its annual customer satisfaction survey, consumers continued to rank SP Services staff scored highly on providing helpful, courteous and timely service. They also achieved top marks for being punctual, responsive and giving clear information. The survey by an independent research agency in Dec 07 interviewed 1,200 people across various customer touchpoints, from the walk-in service counters to telephone services and on-site visits by technicians. The company’s service excellence was also recognised at the 2007 Contact Centre Association of Singapore Awards. SP Services won the Silver award for Best Customer Service Professional, and Bronze award for Best Contact Centre Team Leader. Sharing energy saving tips with young visitors at SP Services’ Electricity Efficiency Centre The Wireless Workforce Management System is used in field operations for optimal resource allocation Major Projects SP Services is upgrading its billing system to enable more efficient management of its database and IT system. The project is expected to be completed by Aug 08. The company also participated in the pilot testing of the Electricity Vending System (EVS). Initiated by EMA, the EVS explores the concept of an efficient retailing scheme incorporating smart meter technologies and e-payment system. In its audit for re-certification by the International Organisation for Standardisation (ISO) in Mar 08, SP Services continued to exceed the service standards set by the Regulator. The ISO auditors commended SP Services for its rigorous work processes to ensure operational excellence, and for continuing to set higher targets for service standards. New Initiatives Going forward, SP Services will continue to study ways to further improve its customer services and operational efficiency, while managing rising business costs. In FY 07/08, it provided consultancy and training services to utility companies in China and the Gulf region. In the year ahead, SP Services will continue to provide advisory services to companies looking to improve their customer service management. SP ANNUAL REPORT 2007 41 operations review SP GLOBAL SOLUTIONS POWERING PERFORMANCE Celebrating a great relationship - SP PowerGrid (right) provides consultancy and training services to Beijing Power Corporation (left) SP ANNUAL REPORT 2007 42 SP Global Solutions is providing many city utility companies with consultancy and training services that leverage on SP’s expertise in excellent network management. These span from regulatory and technical solutions in network planning, development, maintenance and asset management to condition monitoring and customer management systems. Upgrading Energy Infrastructure As the economies in the Asia Pacific grow, and demand for power increases, more cities in the region are seeking to upgrade their utility infrastructure and energy efficiency. Interest in SP Global Solutions’ services is strong as international benchmark indicators rate SP’s electricity network performance as one of the world’s best. Its outstanding infrastructure underpins the thriving Singapore economy and SP excels in meeting the exacting power quality needs of high tech industries. SP’s engineers in Singapore and Australia have excellent track records in designing robust electricity and gas networks to support the energy needs of rapidly growing cities. These range from underground cables and pipes in crowded cities, to overhead cables over large areas, and undersea cables and pipes. As both owner and operator of energy delivery networks, SP has the experience to provide cost-effective and pragmatic solutions. In FY 07/08, SP Global Solutions provided consultancy services to utility companies in China, the Gulf region and Southeast Asia, to upgrade their energy infrastructure and expand capacity to support their economic growth. Engineers from Qatar, Shanghai and Beijing went through intensive training stints at SP’s facilities in Singapore. Broader Scope Of Services Going forward, SP Global Solutions will explore consultancy opportunities in India, the Gulf region and ASEAN countries. It will also broaden its scope to provide a complete range of town master planning and utility network management services, working closely with supply partners. As SP Global Solutions engages utility companies in the region, it will also seek collaborative opportunities to participate in new markets, beyond training and consultancy services. SINGAPORE DISTRICT COOLING POISED FOR STRONG GROWTH Marina Bay today (left) and in 2010 (right). District cooling is becoming an enabling infrastructure at Marina Bay Singapore District Cooling, a SP joint venture company, produces chilled water for the air-conditioning of commercial buildings. As a new utility service, district cooling is more energy efficient and eliminates the need for in-house chillers. This frees up valuable commercial space and reduces building costs. Just in its second year of commercial operations, Singapore District Cooling has exceeded its performance targets and surpassed regulatory requirements in providing a constant supply of chilled water at consistent temperatures roundthe-clock. production capacity. This includes developing a second district cooling plant within the Integrated Resort site which will be operational by 2010. With its strong value proposition, Singapore District Cooling is poised to benefit from district cooling’s becoming the new essential service in the downtown. Besides meeting the most demanding air-conditioning needs of modern commercial buildings, district cooling’s higher energy efficiency also contributes to environmental protection. In addition to supplying One Raffles Quay with chilled water, the company will also be serving the Integrated Resort, Marina Bay Financial Centre and other commercial developments in the new downtown once they are completed. The service will also be extended to new developments in the Collyer Quay financial district in response to demand. New Investments To meet the projected robust demand, Singapore District Cooling is investing over S$110 million in the next three years to extend the chilled water piping network and expand The district cooling system eliminates the need for in-house chiller plants in buildings SP ANNUAL REPORT 2007 43 operations review SP ANNUAL REPORT 2007 44 AUSTRALIA OPERATIONS SP ANNUAL REPORT 2007 45 operations review STRONGER BUSINESS MODEL In FY 07/08, SP significantly transformed its business in Australia with the acquisition of Alinta Ltd in a consortium with Babcock and Brown International Pty Ltd. Through the acquisition, SP acquired most of Alinta’s assets in the eastern states of Australia. These assets are held under SP’s subsidiary, SPI (Australia) Assets. The new investment adds to SP’s already diversified portfolio of assets across the energy value chain, anchored mainly in the stable and regulated wires and pipes businesses. Prior to the acquisition, SP already had presence in Australia through SP AusNet, its 51 per cent owned subsidiary. SP AusNet’s electricity transmission and distribution network, and its gas distribution assets, deliver a full range of energy related products and services to industrial and domestic customers in Victoria. The Australian division of SP is today one of the largest energy infrastructure groups in the country, with operations spanning regulated, contracted and non-regulated businesses across Victoria, Queensland and New South Wales. SPI (Australia) Assets’ strong portfolio of asset management work for third parties and expanding market share in asset services will underpin the Group’s business growth going forward. With its substantially enlarged skills base, scale and extensive experience in operating quality assets, SP is well positioned to participate in new energy infrastructure developments, and to support and contribute to economic growth in Australia. SP’s Assets In Australia Gas Transmission Pipeline Natural Gas Distribution Network Electricity Distribution Network Electricity Transmission Network SP ANNUAL REPORT 2007 Melbourne Queensland Gas Pipeline Roma Rockhampton Gladstone Fairview Wallumbilla Brisbane Newcastle NSW Gas Distribution Sydney Canberra Eastern Gas Pipeline 46 Victorian Electricity and Gas Distribution Networks VicHub Interconnect SP AUSNET ORGANIC GROWTH Electricity transmission testing in Altona SP AusNet's business comprises essential electricity transmission and electricity and gas distribution infrastructure across Victoria and about 90 per cent of its revenue comes from operating these regulated assets. Electricity Transmission SP AusNet’s electricity transmission network comprises over 6,500 km of transmission lines that carry electricity from power stations to electricity distributors and large customers in Victoria. Electricity distribution line work underway in Lilydale The network is centrally located among the five eastern states of Australia that form the National Electricity Market and provides key links between the electricity transmission networks of South Australia, New South Wales and Tasmania. In FY 07/08, the electricity transmission network contributed A$434 million in regulated revenue to SP AusNet’s financial performance and transmitted 52,104 GWh of electricity. SP AusNet invested A$142 million to refurbish and increase capacity at several key terminal stations. SP ANNUAL REPORT 2007 47 operations review SP AUSNET MANAGEMENT MR NINO FICCA Managing Director MR GEOFF NICHOLSON Chief Financial Officer & Company Secretary MR PAUL ADAMS General Manager (Network Services) MR NORM DREW General Manager (Network Development) MR CHARLES POPPLE General Manager (Regulatory & Business Strategy) MR ADRIAN HILL General Manager (Corporate Development & Investor Relations) MR PETER MERRITT General Manager (Business Systems & Services) MR JOHN AZARIS General Manager (Human Resource & Communications) SP ANNUAL REPORT 2007 48 Working at the Altona Terminal Station Taking a call at the Network Operations Centre As part of its focus on delivering a safe and reliable energy supply, SP AusNet continually upgrades its electricity network. During the year, SP AusNet completed the refurbishment of nine electricity transmission stations. The programme, which began in 2004, included the terminal stations at Malvern, Terang, Horsham, Ballarat, Redcliffs, Mt Beauty, Shepparton, Brunswick and Bendigo. The installation of additional 500/220kV transformers at Rowville and Moorabool terminal stations is proceeding ahead of schedule. SP AusNet has also committed another A$40 million to upgrade the South Morang terminal station to meet growing demand in the Victorian northern corridor. The area is expected to become one of the fastest growing regions in Australia over the next three years. Electricity Distribution The distribution network carries electricity from the transmission network to connected electricity customers in eastern metropolitan Melbourne and eastern Victoria. The network is over 46,000 km long, spans 80,000 sq km and services about 600,000 customers. In FY 07/08, the electricity distribution network contributed A$464 million in regulated revenue to SP AusNet’s financial performance and distributed 7,543 GWh of electricity. SP AusNet invested A$185 million to improve network performance and connect 9,500 new customers. To further meet growing energy demand, SP AusNet commissioned a A$16 million upgrade to the Lang Lang Zone Sub-Station and a 66kV powerline from Pakenham South to Lang Lang. Gas Distribution SP AusNet’s 9,408 km distribution pipelines carry natural gas from the transmission network to over 537,000 customers across 60,000 sq km in central and western Victoria. It also owns 183 km of gas transmission pipelines. In FY 07/08, the gas distribution network contributed A$168 million revenue and distributed 70.3 PJ of gas. SP AusNet invested A$75 million to expand the network and connect about 14,000 new customers. SP ANNUAL REPORT 2007 49 operations review SP AUSNET Installing the gas distribution network in western Victoria Warragul workers on an electricity distribution job Upgrades And Extensions As the Victorian community expands, so does SP AusNet’s gas distribution network. SP AusNet has just completed the largest gas extension project in Victoria since the 1970s. The A$54 million Natural Gas Extension Programme took three years to complete and provides natural gas to 12 regional towns in Western Victoria. As part of the project, SP AusNet installed 350 km of gas mains which will form the backbone infrastructure to provide Victoria’s western corridor with reliable and efficient energy supply. In FY 07/08, Technical Services increased its external revenue by more than 25 per cent. The growth has been achieved through securing several new contracts for condition monitoring and diagnostic testing with both Australian and international energy companies. The Year Ahead SP AusNet will continue to invest in its networks, with an estimated A$2.7 billion of capital expenditure over the next five years. This expenditure will enable the business to upgrade capacity, meet growing customer demand and continue to provide a safer operating environment. SP ANNUAL REPORT 2007 50 Services Data and Measurement Solutions (DMS), one of SP AusNet’s service-based businesses, enjoyed more than 60 per cent increase in external revenues in FY 07/08. It also secured a large contract with City West Water. DMS, through SP AusNet, is a key participant in the Victorian Government’s initiative to roll out ‘Advanced Metering Infrastructure’. SP AusNet’s Technical Services business markets condition monitoring, chemical testing, energy metering and electrical calibration services to the energy industry throughout Australia and abroad. The expenditure will also be used to improve the underlying performance of the networks, with particular emphasis on improving reliability on the electricity distribution network. Expansion and commercialisation of niche services including metering, technical services and the provision of telecommunication assets will also contribute to future revenue growth for the business. SPI (AUSTRALIA) ASSETS PREPARING FOR GROWTH The Eastern Gas Pipeline transports natural gas over 700 km, from Victoria to major commercial clients in New South Wales In FY 07/08, SPI (Australia) Assets made significant investments to expand its electricity and gas infrastructure to prepare for anticipated demand growth, and ensure network reliability. It also achieved several firsts in innovative projects and won major new contracts. New South Wales Gas Network In New South Wales, it invested almost A$46 million in extensions to the gas distribution network, the completion of the Sydney Primary Loop and equipment upgrades. The Sydney Primary Loop was officially commissioned in Dec 07. SPI (Australia) Assets had constructed 30 km of new gas pipelines through suburban Sydney over the last three years. The project ensures the continuing supply of gas to over 400,000 homes and businesses and capacity to meet demand forecast over the next 25 years. Gas Transmission Pipelines Several major transmission construction projects worth A$152 million were initiated to increase gas supply capacity and meet projected demand forecasts. At the Eastern Gas Pipeline, construction is progressing on a mid-line compressor station which will initially boost pipeline capacity by 15 per cent. Construction has also begun on an extension to the Queensland Gas Pipeline to meet customers’ increased gas needs. SP ANNUAL REPORT 2007 51 operations review SPI (AUSTRALIA) ASSETS MANAGEMENT MR PETER MAGARRY Chief Executive Officer MR IAN WELLS Chief Financial Officer MR DON PLOWMAN Chief Operations Officer MS LINDA DAWSON Executive General Manager (Human Resource) MR DAVID CLERK Executive General Manager (Business Strategy) MR SHAUN REARDON Executive General Manager (Energy Investments) MS CATHY BIBBY Chief Information Officer MS YASMIN BROUGHTON General Counsel & Company Secretary SP ANNUAL REPORT 2007 52 SPI (Australia) Assets operates major electricity distribution assets in Melbourne and southeast of the city Fixing a powerline overlooking Port Phillip Bay, Mornington Peninsula Victorian Electricity Network In Victoria, two new zone substations were commissioned at Coolaroo and Sydenham, to accommodate new housing and business developments. A second transformer at Braybrook zone substation was also commissioned to reinforce supply in the western area of the electricity network. Innovative Firsts In the Rosehill Recycled Water Scheme, an Australian first, SPI (Australia) Assets has teamed up with various partners to convert isolated gas pipelines to supply recycled water for industrial use and irrigation. The project could save Sydney residents 4.3 billion litres of drinking water a year. SPI (Australia) Assets also won a contract for the supply and storage of natural gas from its Sydney-Newcastle Gas Pipeline to Delta Electricity’s Colongra gas fired power station in New South Wales. It will own and operate the nine km gas pipeline and compressor station connecting the power plant. The high pressure pipeline and infrastructure will provide storage capacity to ensure Delta has enough gas to meet peak power demand. The Year Ahead SPI (Australia) Assets will be pursuing over A$600 million of potential contracts for asset services in the year ahead. Backed by established capabilities and resources, and an excellent track record in Victoria, New South Wales and Queensland, it is well positioned to be the preferred asset services provider to the major utility companies. SP ANNUAL REPORT 2007 53 AWARDS & ACCOLADES SP ANNUAL REPORT 2007 54 Country Deals of the Year 2007 – Singapore • Singapore Power Group by Asiamoney Asian Awards 2007 for Best Deal Asian Awards 2007 for Most Innovative Deal / Best M&A deal • Singapore Power Group by The Asset Singapore Quality Class Certification • SP Services by SPRING Singapore, 2006 to present Business Continuity Management Certification • PowerGas by SPRING Singapore, FY 04/05 to FY 07/08 ISO 9001:2000 Certification for Quality Management System • SP PowerGrid (Distribution Control & Customer Services Section) by Certification International, FY 06/07 to present • SP PowerGrid (Network Development) by Certification International, FY 02/03 to present • SP PowerGrid (Network Management) by Certification International, FY 02/03 to present • SP Services by BSI Management System, FY 04/05 to present • PowerGas by SGS International Certification Services, FY 03/04 to present ISO/IEC 17025 for Calibration and Measurement of Meters • PowerGas by Singapore Accreditation Council-Singapore Laboratory Accreditation Scheme, 2005 to present People Developer Standard by SPRING Singapore • Singapore Power Group, 2000 to present • PowerGas, 2003 to 2007 • SP PowerGrid, 2005 to present • SP Services, 2005 to present Singapore H.E.A.L.T.H. (Helping Employees Achieve Life- Time Health) Award, Gold • Singapore Power Group by Health Promotion Board, 2004 to 2007 Work-Life Achiever Award • Singapore Power Group by Ministry of Manpower, 2006 to 2007 Minister for Defence Total Defence Award • Singapore Power Group by Ministry of Defence, 2005 to 2010 Home Team NS Awards for Employers (Special Award) • Singapore Power Group by Ministry of Home Affairs, 2007 Finalist, Business Achievement Award • SP AusNet, by Equal Employment for Women in the Workforce Agency (EOWA), 2007 Finalist, WorkSafe, Victoria Award • SP AusNet, 2007 Sustainability Victoria WasteWise Bronze Accreditation for Southbank and major regional offices • SP AusNet, 2007 Award for Excellence, Energy and Resource • SPI (Australia) Assets Mallaty Creek Project by Association of Australia Consulting Engineers, 2007 Engineering Excellence Award for Engineering Innovation • SPI (Australia) Assets Mallaty Creek Project by Institute of Engineers Australia, 2007 corporate FINANCE & STRATEGIC INVESTMENTS Value Creation During the year, we continued to create value through the divestment of our remaining non-core assets. The sale of SP Building at 111 Somerset Road was completed in Feb 08 and realised a gain of S$453 million. In FY 07/08, we completed our divestment of SPI Seosan in South Korea and received the final sale proceeds in Sep 07. SP also divested our 25 per cent stake in Everpower IPP in Taiwan, our last non-core generation asset. The disposals sharpen SP’s focus on our core businesses of electricity and gas transmission and distribution. SP clinched the Asiamoney Country Deals of the Year award and two The Asset Asian Awards for the Alinta deal Strategic Investment Following SP’s joint acquisition with Babcock and Brown of Alinta Assets, we now own two major investments in Australia – 51 per cent stake in SP AusNet and wholly owned SPI (Australia) Assets Pty Ltd. Expertise and knowledge sharing are in progress at the two businesses to maximise synergies and leverage on their competitive strengths and capabilities for mutual benefit. The A$13.8 billion Alinta transaction was the largest infrastructure acquisition in Australia, with SP’s share at A$8.3 billion (S$10.6 billion). SP has received several awards for the acquisition, including the • Asiamoney Country Deals of the Year 2007 – Singapore Award • The Asset Asian Awards 2007 for Best Deal • The Asset Asian Awards 2007 for Most Innovative Deal / Best M&A Deal. Financing SPI (Australia) Assets Pty Ltd secured a A$6.2 billion bridge facility from a consortium of banks in Aug 07 to fund the acquisition of Alinta Assets. The subsidiary is in the process of re-financing the bridge facility with longer tenure debt. The financial strength of the Group has put it in good stead to access the regional debt markets efficiently. In Feb 08, SP AusNet secured A$1.55 billion of syndicated bank debt facility to refinance existing bank debt. Capital Management The Group is committed to an optimal capital structure and to maintaining its strong credit ratings. SP has one of the best credit ratings among utility companies in Asia. It is currently rated AA- by Standard & Poor’s and Aa3 by Moody’s Investors Service. SP ANNUAL REPORT 2007 55 OPERATIONAL EXCELLENCE HUMAN RESOURCE POWERING OUR PEOPLE Strengthening the SP team spirit through a core teamwork programme of fun and challenging activities We continue to expand our talent pool through our scholarship programme SP’s industry leading performance is underpinned by its highly committed and energetic workforce. This is supported by an open and caring environment that encourages staff development and work-life harmony. With 6,400 staff in Singapore and Australia, enhancing our employees’ skills and knowledge are key to strengthening our core competencies and maintaining our exceptional performance. Strategic recruitment and succession planning continued to ensure we have the best talent in the right places to maintain our deep bench strength. To accelerate learning, SP uses blended learning, which combines classroom, on-the-job and e-learning, mentoring, simulations and collaboration. E-learning, such as eCourses for technicians on restoring power supply, is widely used to support business operations. SP’s pool of undergraduate scholars increased to 17 with the award of five scholarships in FY 07/08. Upon graduation, the scholars will begin a two-year programme to acquire operational and management experience through structured job rotations across the subsidiaries and functions. Their holistic training will also include attending technical, management and general development courses. SP ANNUAL REPORT 2007 Growing Our Human Talent Throughout the organisation, SP invests in continuous staff training to hone our workforce expertise at all levels. During the year in review, each staff completed 48.7 training hours. From FY 07/08, employees pursuing part-time courses received financial assistance under the new personal development subsidy scheme. This supplements the Total Learning Plan where courses are fully sponsored by the company. 56 SP AusNet MD Nino Ficca (third from left) with Apprentice of the Year award recipients In Australia, SP AusNet recruited 35 trainees and apprentices for the electrical and gas network installation, maintenance and protection divisions. The 2007 intake also saw SP AusNet’s first female apprentice. SP AusNet co-funded bursaries for 13 engineering students and also continued its Skilling For The Future programme for senior high school students. SP AusNet was the main sponsor for the Victorian Energy Education and Training Programme, which promotes careers in the energy sector by offering students training in the energy industry. During the financial year, SPI (Australia) Assets’ Graduate Development Programme drew 59 engineering, finance and information systems graduates. To give staff international exposure and professional development opportunities, 11 SP and three SP AusNet staff received overseas postings ranging from three months to two years. Such attachments also facilitate the transfer of technical expertise and knowledge across countries. Motivating Superior Performance Our performance management system nurtures a culture of performance with a fair and robust reward system. Our staff work towards key performance indicators, and achievement of these targets determine their incentive payments. The exceptional achievements of individuals or teams are recognised and celebrated by the entire organisation at forums such as the Management Annual Plan. The highest accolade for employees is the Appreciation for Commitment and Excellence Award, which honours staff with excellent performance. In addition, SP PowerGrid and SP Services staff who provide outstanding customer service were also recognised and rewarded. A Caring Employer An employee engagement survey, conducted in FY 07/08, reached out to staff to understand their views on how to ensure working with the company is meaningful and work life is satisfying. SP ANNUAL REPORT 2007 57 OPERATIONAL EXCELLENCE The successful partnership between SP management and UPAGE representatives grew deeper in Malacca SP ANNUAL REPORT 2007 58 SP’s Quality Life Programme today offers employees a host of sporting activities and advice on how to better manage work-life situations. In FY 07/08, new initiatives to engage staff included: • A HR Outreach Programme for staff to interact more easily with the HR team • An online Compliments Bank so staff can ‘publicly’ recognise colleagues who have gone the extra mile to help SP teams produce exceptional service • A one-day attachment scheme that allows staff to learn more about the work of colleagues in other subsidiaries or functions. To foster the SP team spirit, a core programme stressing teamwork through fun and challenging activities was organised for all staff. In Australia, SP AusNet formed the Diversity Initiatives Group to attract women into the engineering industry through strategic presence at schools and trade fairs, sponsorship of university programmes and creating a more conducive work environment for women. Two SP AusNet female staff were given engineering scholarships as part of the programme. SPI (Australia) Assets’ Learning and Organisation development team conducted over 100 workshops to help 1,500 employees adapt to change in the workplace. It also launched a ‘Leap into Life’ campaign to promote health and well-being at work and at home. Strong Management-Union Partnership SP continued to nurture its successful partnership with the Union of Power and Gas Employees (UPAGE) through open communication and mutual trust. In Oct 07, a Union-Management Seminar in Malacca enabled both parties to discuss employee and business issues extensively. The strong rapport facilitated the signing of a new Collective Agreement in Jun 07 featuring a better link between individual performance and rewards. SP believes a strong working relationship between management and UPAGE is key to sustaining its business competitiveness and positioning as an employer of choice. INFORMATION SYSTEMS EMPOWERING OPERATIONS The bulk processing project has helped IS staff ensure service quality and reliability to the various business units SP invests in Information Technology to automate key processes, empower the workforce and improve productivity. IT programs are closely aligned to business unit goals to ensure efficient execution of the business strategy. Common shared systems and infrastructure across the Group drive greater synergies. Our information systems infrastructure supports millions of transactions monthly, and is key to delivering superior customer service and operational efficiency. Automating Bulk Processes The Information Systems Data Centre, which operates on a 24-hour day, seven days a week, executes about 6,000 bulk processing jobs every night spanning different computing platforms. In Dec 07, work began on automating the scheduling and monitoring of such jobs. The first phase involving automating SP Services’ invoicing for contestable commercial customers and the entire Human Resource Management system was successfully implemented in Mar 08. Phase Two is progressing well and will automate various finance functions as well as SP Services’ customer management and billing functions for over a million non-contestable customers. The project has improved job processing efficiency and gives alerts of potential delays so that prompt action can be taken. It has also enabled the IS department to increase service reliability levels to the various business units. Work is in progress on upgrading the Group’s Financial and Logistics Information System. When completed in the last quarter of 2008, the project will provide more comprehensive management reporting to enable speedier decision making. In FY 07/08, SP’s corporate network achieved zero virus infection and internet intrusion. On-line systems availability and network up-time exceeded the targeted 99.8 per cent. Supporting The Gas Market IS has jointly developed a web-based IT system called the Gas Transportation System Solution (GTSS) to support the de-regulated market operations and facilitate trading of natural gas according to the business rules of the Gas Network Code. The system has been tested with PowerGas, and is now being piloted with the participants in the gas industry. The system implementation and opening of the gas market is scheduled for third quarter 2008. Post implementation, the application and technical support will be provided by the IS team. SP ANNUAL REPORT 2007 59 OPERATIONAL EXCELLENCE RISK MANAGEMENT OWNERSHIP AND ACCOUNTABILITY SP’s Board of Directors, Board Risk Management Committee and Management are committed to a proactive and structured approach to risk management as an integral part of the day-to-day activities of the Group at all levels within the organisation. This is to preserve and enhance business delivery, ensure compliance with regulatory obligations, protect the Group’s assets and safeguard the interest of various stakeholders such as employees, company and community. The Group’s guiding principle is that the responsibility for risk management rests with all employees in their respective areas of work and the roles and responsibilities on escalation and communication of risks are to be clearly defined. In addition, SP adopts openness and honesty in the reporti

Media Release Smart Building Solution by SP Group and 75F Helps Buildings Achieve More Than 30% Energy Savings Singapore, 5 December 2019 – SP Group (SP), a leading energy utilities group and 75F, a building intelligence solutions provider, are offering a micro-climate control solution that can save more than 30 per cent in energy consumption while improving occupant comfort. The solution uses applied Artificial Intelligence (A.I.) and Internet of Things (IoT) to reduce energy consumption in a building. It takes into consideration factors like occupancy and weather and optimises air-flow to evenly cool areas. SP partnered with 75F to customise and test the performance and viability of the solution for Singapore’s tropical environment. The solution was trialled for a year at Singapore Institute of Technology’s (SIT) campus at Dover, and the Mercatus Co-operative Limited’s corporate office at One Marina Boulevard in Raffles Place. Both locations achieved more than 30 per cent in energy savings, while improving comfort for occupants by ensuring that the indoor temperature, and air quality were optimal. With the validated outcomes, SP and 75F will offer the solution to customers in Singapore, China, Vietnam, Indonesia and Australia. Air-conditioning contributes 60 per cent of a building’s electricity consumption. With buildings consuming a third of Singapore’s total electricity consumption1 , this new solution will help Singapore reduce electricity consumption and support the goal of cutting national emissions intensity by 36 per cent below 2005 levels by 2030. Mr Brandon Chia, Head, Centre of Excellence, SP Group said: “SP Group has partnered with 75F on this micro-climate control solution that leverages A.I. and IoT. It enables customers to enjoy cooler comfort in buildings while lowering their carbon footprint. We look forward to developing more next-generation technologies to help customers in Singapore and the region save energy and cost.” The micro-climate control solution is a self-learning, intuitive building intelligence system that optimises and regulates air-conditioning in buildings to improve operational efficiency and occupant experience. The system’s central control unit divides large open spaces into smaller zones that balances the temperature, air flow, carbon dioxide (CO2) within each zone. It also optimises the air-conditioning operation by using the least amount of energy to achieve the required comfort. Gaurav Burman, APAC President, 75F said: “Both 75F and SP are committed to saving energy and reducing the carbon footprint of commercial buildings. The Asia Pacific market, especially Singapore, China, Vietnam, Indonesia and Australia, represent a huge opportunity given their economic growth, rising energy costs and the growing focus to improve occupant experience and operational efficiency. This partnership combines 75F’s award-winning technology with SP’s capabilities and track record in the region, allowing both companies to accelerate our growth.” SP’s partnership with 75F first started as part of SP’s Energy Advanced Research and Development (SPEAR) programme, under the SP Centre of Excellence (SP CoE). SP CoE is an initiative supported by the Singapore Economic Development Board (EDB), and drives the research, development, and integration of cutting-edge solutions and next-generation technologies for Singapore’s energy infrastructure network. -Ends- Notes to Editor: About SP Group SP Group is a leading energy utilities group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and district cooling businesses in Singapore and China. SP Group is committed to providing customers with reliable and efficient energy utilities services. About 1.6 million industrial, commercial and residential customers in Singapore benefit from SP Group’s world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. SP Group also drives digital solutions to empower customers to manage their utilities, reduce consumption and save cost. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and on Twitter @SPGroupSG. About SP Centre of Excellence The SP Centre of Excellence (CoE) is an initiative by SP Group (SP) to drive the innovation and commercialisation of next-generation energy network technologies for the greater reliability and efficiency of Singapore’s infrastructure. Supported by the Singapore Economic Development Board, the CoE aims to establish SP as a thought leader in the utility industry forefront and build future-ready energy networks and resource capabilities. This allows SP to stay ahead of global trends such as the drive for smarter and greener performance, and to sustainably meet evolving customer needs About 75F 75F is an award-winning, IoT and Machine Learning company taking a fresh approach to HVAC, lighting and controls in commercial buildings. Founded in 2012, 75F offers data-driven, proactive, predictive building intelligence and controls. 75F is backed by investment groups including billionaire-led Breakthrough Energy Ventures and Oil & Gas Climate Initiative. 75F has delivered hundreds of energy-efficient, comfortable and healthy spaces to enthusiastic customers who rave about the results. 75F launched its operations in India in August 2016 and has been growing steadily since with companies such as Firstsource Solutions, Flipkart, Bennett-Coleman Group, Mercedes Benz, Mapletree, HP, Shell, Smartworks and other leading brands in India, joining US customers such as HOM Furniture, Border Foods, Magnet 360, Rockler and Yoga Fit. 1 Source: The Building and Construction Authority (BCA) Super Low Energy Technology Roadmap Report

News Release SMART BUILDING SOLUTION BY SP GROUP AND 75F HELPS BUILDINGS ACHIEVE MORE THAN 30% ENERGY SAVINGS Singapore, 5 December 2019 – SP Group (SP), a leading energy utilities group and 75F, a building intelligence solutions provider, are offering a micro-climate control solution that can save more than 30 per cent in energy consumption while improving occupant comfort. The solution uses applied Artificial Intelligence (A.I.) and Internet of Things (IoT) to reduce energy consumption in a building. It takes into consideration factors like occupancy and weather and optimises air-flow to evenly cool areas. SP partnered with 75F to customise and test the performance and viability of the solution for Singapore’s tropical environment. The solution was trialled for a year at Singapore Institute of Technology’s (SIT) campus at Dover, and the Mercatus Co-operative Limited’s corporate office at One Marina Boulevard in Raffles Place. Both locations achieved more than 30 per cent in energy savings, while improving comfort for occupants by ensuring that the indoor temperature, and air quality were optimal. With the validated outcomes, SP and 75F will offer the solution to customers in Singapore, China, Vietnam, Indonesia and Australia. Air-conditioning contributes 60 per cent of a building’s electricity consumption. With buildings consuming a third of Singapore’s total electricity consumption 1 , this new solution will help Singapore reduce electricity consumption and support the goal of cutting national emissions intensity by 36 per cent below 2005 levels by 2030. Mr Brandon Chia, Head, Centre of Excellence, SP Group said: “SP Group has partnered with 75F on this micro-climate control solution that leverages A.I. and IoT. It enables customers to enjoy cooler comfort in buildings while lowering their carbon footprint. We look forward to developing more next-generation technologies to help customers in Singapore and the region save energy and cost.” The micro-climate control solution is a self-learning, intuitive building intelligence system that optimises and regulates air-conditioning in buildings to improve operational efficiency and occupant experience. The system’s central control unit divides large open spaces into smaller 1 Source: The Building and Construction Authority (BCA) Super Low Energy Technology Roadmap Report 1 zones that balances the temperature, air flow, carbon dioxide (CO 2) within each zone. It also optimises the air-conditioning operation by using the least amount of energy to achieve the required comfort. Gaurav Burman, APAC President, 75F said: “Both 75F and SP are committed to saving energy and reducing the carbon footprint of commercial buildings. The Asia Pacific market, especially Singapore, China, Vietnam, Indonesia and Australia, represent a huge opportunity given their economic growth, rising energy costs and the growing focus to improve occupant experience and operational efficiency. This partnership combines 75F’s award-winning technology with SP’s capabilities and track record in the region, allowing both companies to accelerate our growth.” SP’s partnership with 75F first started as part of SP’s Energy Advanced Research and Development (SPEAR) programme, under the SP Centre of Excellence (SP CoE). SP CoE is an initiative supported by the Singapore Economic Development Board (EDB), and drives the research, development, and integration of cutting-edge solutions and next-generation technologies for Singapore’s energy infrastructure network. -Ends- Notes to Editor: About SP Group SP Group is a leading energy utilities group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and district cooling businesses in Singapore and China. SP Group is committed to providing customers with reliable and efficient energy utilities services. About 1.6 million industrial, commercial and residential customers in Singapore benefit from SP Group’s world-class transmission, distribution and market support services. These networks are amongst the most reliable and cost-effective world-wide. SP Group also drives digital solutions to empower customers to manage their utilities, reduce consumption and save cost. For more information, please visit spgroup.com.sg or for follow us on Facebook at fb.com/SPGroupSG and on Twitter @SPGroupSG. 2 About SP Centre of Excellence The SP Centre of Excellence (CoE) is an initiative by SP Group (SP) to drive the innovation and commercialisation of next-generation energy network technologies for the greater reliability and efficiency of Singapore’s infrastructure. Supported by the Singapore Economic Development Board, the CoE aims to establish SP as a thought leader in the utility industry forefront and build future-ready energy networks and resource capabilities. This allows SP to stay ahead of global trends such as the drive for smarter and greener performance, and to sustainably meet evolving customer needs. About 75F 75F is an award-winning, IoT and Machine Learning company taking a fresh approach to HVAC, lighting and controls in commercial buildings. Founded in 2012, 75F offers data-driven, proactive, predictive building intelligence and controls. 75F is backed by investment groups including billionaire-led Breakthrough Energy Ventures and Oil & Gas Climate Initiative. 75F has delivered hundreds of energy-efficient, comfortable and healthy spaces to enthusiastic customers who rave about the results. 75F launched its operations in India in August 2016 and has been growing steadily since with companies such as Firstsource Solutions, Flipkart, Bennett-Coleman Group, Mercedes Benz, Mapletree, HP, Shell, Smartworks and other leading brands in India, joining US customers such as HOM Furniture, Border Foods, Magnet 360, Rockler and Yoga Fit. 3

About SP GroupBoard of DirectorsExecutive Leadership TeamAwards & AffiliationsAnnual ReportsSustainability Review Awards & Affiliations In our quest for excellence, we are proud that our efforts have been recognised with awards and accolades from leading organisations. Awards President’s Volunteerism & Philanthropy Award – Corporate (Large Enterprise) 2016 SP Group by National Volunteer & Philanthropy Centre 17th CCAS International Contact Centre Awards, 2017 - Gold Award - Best Retention programme SP Services by Contact Centre Association of Singapore 17th CCAS International Contact Centre Awards, 2017 - Gold Award - Customer Experience Mystery Shopper Awards SP Services by Contact Centre Association of Singapore 17th CCAS International Contact Centre Awards, 2017 - Gold Award - Best Quality Assurance Specialist SP Services by Contact Centre Association of Singapore 17th CCAS International Contact Centre Awards, 2017 - Bronze Award - Best In-House Section Contact Centre SP Services by Contact Centre Association of Singapore Charity Platinum Award SP Group by Community Chest Singapore, 2018 to 2022 Volunteer Partner Award SP Group by Community Chest Singapore, 2018, 2020, 2021, 2022 Enabler Award SP Group by Community Chest Singapore, 2022 bizSAFE Partner Award SP PowerGrid by Workplace Safety and Health Council, 2020 to 2022 Champions of Good SP Group by National Volunteer & Philanthrophy Centre, 2017 to 2020 and 2022 Gold Award - Health & Safety SP PowerGrid (Special Projects - Cable Tunnels Section) by Royal Society for Prevention of Accidents, 2017 MSF Community Cares Award   SP Group by Ministry of Social and Family Development, 2020, 2022 Minister's Honour Roll (Star) SP Group by Ministry of Home Affairs, 2013 to 2018 ASEAN Rural Development and Poverty Eradication Awards SP Group by Community Chest Singapore, 2021 NS Mark (Gold) SP Group by the Ministry of Defence, w.e.f. 31 Dec 2022 NS Mark (Gold) - In recognition of exemplary support to Total Defence and National Service SP Group by ACCORD, 2022 President’s Certificate of Commendation (COVID-19) SP Group by Prime Minister's Office Public Service Medal (COVID-19) SP Services by Prime Minister's Office Top 50 Engineering Feats - District Cooling System for Marina Bay Singapore District Cooling by Institute of Engineering Singapore (IES), 2016 Top 50 Engineering Feats - Cross-Island and Jurong Island - Pioneer Cable Tunnels SP PowerGrid (Special Projects - Cable Tunnels Section) by Institute of Engineering Singapore (IES), 2016 Top 50 Engineering Feats - World Class Electricity Grid Reliability SP Group by Institute of Engineering Singapore (IES), 2016 Best In-House PR Team of the Year SP Group by Institute of Public Relations Singapore's PRISM awards, 2017 Singapore Quality Award 2017 SP Services by Enterprise Singapore Excellent Service Awards (EXSA) 2020 SP Services by Singapore Retailer Association MND Minister's Award (Team) Singapore District Cooling by Ministry of National Development (MND), 2016 Global Healthy Workplace 2022 – 2024 SP Group by Global Centre for Health Workplaces Threat-Oriented Person Screening Integrated System (TOPSIS) Outstanding Award 2022   SP Group by Ministry of Home Affairs Safety and Security Watch Group (SSWG) Outstanding Individual Award 2022 SP Group by Ministry of Home Affairs Gold Award - Best Employee Engagement SP Services by Customer Experience Management Asia Excellence Awards, 2017 IDEA District Energy Space 2019 Beyond North America - Bronze Award - Total Building Area Committed Singapore District Cooling by 108th International District Energy Association (IDEA) Annual Conference International Safety Awards 2023 (Merit) SP PowerGrid by British Safety Council Power & Energy Awards 2022 - Building the Energy Metaverse with A Digital Twin SP PowerGrid By Enlit Asia Power & Energy Awards 2022 - Improving SAIDI with Condition Monitoring Systems and Engineering SP PowerGrid By Enlit Asia Certification & Accreditation Data Protection Trustmark SP Services (from Apr 2020) SP Digital (from Jan 2023) By Infocomm Media Development Authority (IMDA) bizSAFE Star SP PowerGrid SP Services Singapore District Cooling SP Digital Workplace Safety and Health Council, 2021 to 2024 ISO37001:2016 Certification for Anti-bribery Management Systems Singapore Power Limited and its wholly owned Singapore incorporated subsidiaries SOCOTEC Certification International, 2021 to 2024 BCA-IMDA Green Mark Platinum Certification for New Data Centre (SP Group Headquarters) SP Group by Building Construction Authority, 2017 to 2020 ISO55001:2014 Certification For Asset Management System SP PowerGrid SOCOTEC Certification International, 2018 to present BCA Green Mark Platinum Super Low Energy Certification (Labrador Tower) SP Group By the Building and Construction Authority of Singapore, 2022 to 2027 ISO/IEC 17025:2005 in Electrical Testing for Electricity Meters SP PowerGrid by Singapore Accreditation Council - Singapore Laboratory Accreditation Scheme, 2000 to present SS564:2013 (Energy & Environment Management System for Operations and Maintenance of Data Centre) SP Group by Building Construction Authority, 2017 to 2020 ISO/IEC 17025:2017 in Calibration and Measurement for Gas Flow Meters SP PowerGrid by Singapore Accreditation Council - Singapore Laboratory Accreditation Scheme, 2005 to present ISO50001 (Energy Management for Operations and Maintenance of Data Centre) SP Group by Building Construction Authority, 2017 to 2020 ISO/IEC 27001:2013 in Management and Operation of Control System for Onshore Receiving Facilities at Sakra and Attap Valley Natural Gas Stations, and Tuas South Offtake Station SP PowerGrid (Gas Operations) by TÜV SÜD PSB Pte Ltd, 2022 to 2025 ISO 50001: 2018 Certification for Provision of Green Data Centre Services SP Services by SOCOTEC Certification International, 2022 to 2025 ISO/IEC 27001:2013 for The Management and Maintenance of the Substation Control System for SPPA in 400kV, 230kV and 66kV substation (SCS) SP Power Assets Ltd by TÜV SÜD PSB Pte Ltd, 2021 to 2024 SS564 : Part 1 : 2020 Certification for Provision of Green Data Centre Services SP Services by SOCOTEC Certification International, 2022 to 2025 ISO/IEC 27001:2013 Certification For Information Security Management System (Gas SCADA)   Singapore Power Limited (SCADA Section) by TÜV SÜD PSB Pte Ltd, 2022 to 2025 People Developer Standard SP Services, 2017 to 2022 by Enterprise Singapore ISO/IEC 17025:2005 in Electrical Testing for Current Transformers SP PowerGrid by Singapore Accreditation Council - Singapore Laboratory Accreditation Scheme, 2000 to present ISO 45001:2018 Occupational Health & Safety Management Systems Singapore Power Limited SP Services Singapore District Cooling Singapore Institute of Power and Gas SP One SP Mobility SP Digital SP Home SP Capital SPL Property SP PowerGrid by SOCOTEC Certification International, 2021 to 2024 ISO 9001:2015 Certification For Quality Management System SP PowerGrid by SOCOTEC Certification International, FY16/17 to present ISO 22301:2012 Business Continuity Management System SP PowerGrid by SOCOTEC Certification International, FY17/18 to present SS651:2019 Certification for Occupational Safety & Health Management System SP PowerGrid (Gas Operations) by SOCOTEC Certification International, 2024 to 2027 Singapore Quality Class Certification (STAR), Singapore Innovation Class Certification, Singapore Service Class Certification SP services by Enterprise Singapore, 2017 to 2022 ISO 9001:2015 Certification For Quality Management System SP Services by Singapore Test Services, 2020 to 2023 ISO27001:2013 Certification For Information Security Management System SP Services by SOCOTEC Certification International, 2021 - 2025 ISO 50001: 2018 Certification for Provision of Centralized Production and Distribution of Chilled Water for District Cooling System Singapore District Cooling By SOCOTEC Certification International, 2021 to 2024 ISO 50001 Certification for Energy Management System for Sakra Natural Gas Station SP PowerGrid (Gas Operations) by TÜV SÜD PSB Pte Ltd, 2022 to 2025 ISO50001:2018 Energy Management System SP PowerGrid (Sakra Natural Gas Station) by TÜV SÜD PSB Singapore, 2022 Affiliations and Associations World Energy Council Singapore The Singapore chapter of the World Energy Council — a United Nations-accredited energy body — provides a platform for the local industry to chart the course of the nation's energy landscape amid disruptive changes, and to address the energy trilemma of creating a secure, accessible and sustainable energy future. It taps on the Council's network of more than 3,000 member organisations in 90 countries, for global insights and best practices on energy policy, innovation and sustainability strategies. The chapter's founding members are Singapore Power (SP), Senoko Energy, YTL PowerSeraya, Tuas Power, PacificLight Power and Singapore District Cooling.

Enhancing Capabilities Powering Growth annual report 2010 Our Mission We provide reliable and efficient energy utility services to enhance the economy and the quality of life. Our Values Commitment We commit to creating value for our customers, our people, and our shareholders. We uphold the highest standards of service and performance. Integrity We act with honesty. We practise the highest ethical standards. Passion We take pride and ownership in what we do. Teamwork We support, respect and trust each other. We continually learn, and share ideas and knowledge. Contents 03 The Singapore Power Group 06 Chairman’s Message 10 Financial Highlights 11 Group Structure 12 Awards & Accolades 14 Corporate Review 16 Corporate Governance 16 Board of Directors 22 Organisational Structure 23 Ethics & Accountability 26 Senior Management 2 Singapore Power Annual Report 2010 30 Operations Review – Singapore 32 SP PowerAssets 34 PowerGas 37 SP PowerGrid 45 SP Services 48 SP Training & Consultancy Company 50 Singapore District Cooling 52 Operations Review – Australia 55 SP AusNet 61 SPI (Australia) Assets 64 Operational Support 64 Human Resource 68 Infocomm Technology 70 Risk Management 71 Community & Environment 74 Financial Summary The Singapore Power Group Singapore Power Group (SP) is a leading energy utility company in the Asia Pacific. We own and operate electricity and gas transmission and distribution businesses in Singapore and in Australia, primarily in Victoria, New South Wales and Queensland. Over a million Singapore industrial and domestic customers benefit from SP’s world-class electricity and gas transmission and distribution, and market support services. Singapore has one of the fewest and shortest power outages among cities worldwide, as rated by international industry indices. In Australia, SP owns a diversified energy utility company, SPI (Australia) Assets (SPIAA), primarily consisting of the Jemena companies, and 51% of SP AusNet, which is publicly listed on the Australian and Singapore Stock Exchanges. As one of Singapore’s largest corporations, SP achieved a revenue of S$7.8 billion and managed S$31.1 billion of assets in FY 10/11. 3 Singapore Power Annual Report 2010 4 Singapore Power Annual Report 2010 Enhancing Capabilities Powering Growth At SP, our mission has always been to provide reliable and efficient utility services to enhance our customers’ quality of life. Today, holding steadfast to our mission, we operate robust energy networks that ensure power to millions of homes and businesses every day. Such a task takes nothing less than world-class capabilities, and that includes the bestof-class infrastructure, as well as the right people. This is why we consciously seek to invest in new, advanced technologies and continually improve our operating processes. Equally important – naturally – are our people. We are committed to developing the full potential of every staff member, just as we are committed to upgrading our systems and operations. Enhancing Capabilities, Powering Growth. This is what we believe in. 5 Singapore Power Annual Report 2010 Overall, FY 10/11 proved to be a positive year with its own share of challenges for Singapore Power. As the global economy continued its recovery, the SP Group turned in commendable results, surpassing that of the previous year. We continued to focus on growing our businesses, while maintaining operational excellence. 6 Singapore Power Annual Report 2010 From the Chairman Financial Performance For the financial year ended 31 March 2011, SP Group posted a 23% increase in net profit to S$893 million from S$728 million, excluding exceptional and nonrecurring items. Our operations in both Singapore and Australia have benefited from the strong domestic economy respectively following the global recovery, and continued to grow steadily and prudently with improved financial results. The Group’s return on equity (ROE) stood at 12.2%, excluding exceptional and non-recurring items. This represents a 1.2% decline compared to the previous year, largely attributable to the impact of exchange translation as a result of the relative strength of the Australia dollar versus Singapore dollar on our shareholders’ equity. Excluding exchange translation, the Group’s ROE for the financial year ended 31 March 2011 would be marginally higher than the previous year. The Group’s total assets stood at S$31.1 billion, up from S$30.3 billion a year earlier. Operational Excellence As part of our efforts to provide reliable and efficient electricity and gas services to our customers, we continued to build on our core strengths and capabilities. The Singapore electricity network performance in FY 10/11 was well within set targets. The System Average Interruption Duration Index (SAIDI) was 0.7 minute, while the System Average Interruption Frequency Index (SAIFI) was 0.04 interruption per customer per year. In the recent benchmarking study conducted by KEMA, an international utility consultant, SP PowerGrid again achieved exceptional network performance during the year. The study highlighted that Singapore had the fewest and shortest outages among cities globally, and consumers here enjoy competitive prices for electricity coupled with the best-in-class network performance. We achieved these through consistently investing in our operations and systems, and in staff development. Network performance for gas in the same period was also well within regulatory targets, with SAIDI and SAIFI scores of 0.313 minute and 0.0025 interruption per customer per year respectively. On the customer service front, SP Services continued to garner recognition for its excellent service through consistent service delivery and new initiatives. A benchmarking survey conducted in December 2010 found that SP Services had outperformed major utilities overseas in terms of cost efficiency and service levels. SP Services also performed well at the 2010 International Contact Centre Awards, winning Gold in two categories, the Most Innovative Use of Technology and Best Contact Centre Manager of the Year (above 100 seats). In Australia, SP AusNet continued to invest in initiatives to improve performance and reliability. We upgraded the electricity distribution network, allowing a faster response time to outages and the ability to switch power around the network from other areas if a fault occurs. The year in review also saw SPI (Australia) Assets (Jemena) celebrate 10 years of safe and efficient operation and maintenance of the Eastern Gas Pipeline (EGP). The pipeline provides natural gas to over 40% of Sydney, as well as the Australian Capital Territory. Major Developments and Projects During the year in review, we continued to push ahead with investments in our electricity infrastructure to ensure an efficient and reliable delivery of quality power into the future. 7 Singapore Power Annual Report 2010 From the Chairman One of the key projects undertaken during the year was the development of the 18.5km North-South and 16.5km East-West cable tunnels in Singapore. When completed, the two tunnels will provide secure corridors for faster and more efficient installation of transmission cables and the replacement of ageing 230kV circuits. Smart grids are the future of energy infrastructure, and SP is committed to working closely with the government and industry partners on the research and development of smart grid technologies in Singapore. Our initiatives include enhancement of the existing intelligent systems, collaboration with the Energy Market Authority (EMA) on projects, and collaboration with Research Institutes to develop solutions and enhance technical know-how and capabilities. The year in review also saw SP Services embarking on the upgrading of its IT System, enabling retail competition in the Singapore Electricity Market. The system upgrade will help SP Services maintain a robust and efficient IT system to serve the needs of a growing contestable customer base in the electricity market and improve efficiencies through the consolidation of a common IT platform. Intensive development and testing activities were conducted in preparation for the system go-live in 2012. SP Services introduced an e-billing email alert, providing customers their monthly utility bill summary via email without needing to access their accounts online. Besides enjoying greater convenience, customers can now opt to go paperless and view their current and past bills online. In Australia, our subsidiaries, SP AusNet and Jemena, commenced the roll-out of the smart meters under the Advanced Meter Infrastructure (AMI) initiative as planned. Our AMI Network Operations Centre is now receiving data from over 154,000 smart meters installed at households and businesses on the network. Select Solutions, a non-regulated business unit under SP AusNet, established its position as Victoria’s largest water metering service provider through its acquisition of Schultz Plumbing in October 2010. Select Solutions also invested in innovative technologies to facilitate and improve the identification of potential issues or faults on electricity assets. These technologies played a key role in the response and recovery from Cyclone Ului and Cyclone Yasi. Valuing Our Human Capital At SP, our core expertise lies with our people. During the year in review, investments in staff training and development remained a top priority. In FY 10/11, we leveraged the National Skills Programme for Upgrading and Resilience and provided over 1,400 up-skilling opportunities for staff. SP also launched a structured training programme for young engineers to acquire knowledge specific to the electricity and gas transmission and distribution industries. Over 40 engineers have enrolled in the programme and the knowledge gained allowed them to adapt more seamlessly to our engineering environment. SP also strengthened its partnership with its labour union, the Union of Power and Gas Employees (UPAGE), through the signing of a new Collective Agreement in July 2010. The new agreement features enhanced progression and re-employment opportunities for staff. In Australia, SP AusNet has developed a talent management strategy to assist in building a highperformance culture and deliver transformational change across the business. This strategy recognises and outlines the need to attract, assess, develop and retain people. SP AusNet was also presented with the 2010 Minister’s Award for Excellence for Employers of Australian Apprentices for the Gippsland region. The award recognised SP AusNet for demonstrating commitment, innovation and outstanding achievement in the training of apprentices. In 2010, Jemena conducted an Employee Climate Survey to determine the level of employee engagement within the organisation. Specific action plans, including a Jemenawide Employee Engagement Programme, were developed to improve employee engagement levels. 8 Singapore Power Annual Report 2010 From the Chairman Giving Back to the Community As our business continued to grow, so did our commitment towards contributing to the community and helping the less privileged. In FY 10/11, the SP Heartware Fund raised over S$880,000 for the needy elderly under seven Home Help Service programmes. In recognition of our contributions to the Home Help Service, the Community Chest awarded us the 5-Year Outstanding Special Events Award and the Special Events Platinum Award for the year. During the year, SP also provided over S$58,000 worth of sponsorships to 14 organisations as part of its corporate philanthropy efforts. In Australia, SP AusNet supported the local rebuilding and revegetation of areas affected by bushfires while Jemena raised over A$140,000 for local and overseas charities. SP AusNet and Jemena also continued their partnership with Landcare Australia, providing key funding for native flora and fauna projects within network areas, for the restoration and revegetation of land areas to protect the habitats of native species as well as to enhance areas available for public use. In Appreciation I would like to thank my fellow Board members for their valuable advice and guidance over the past year. I am also pleased to welcome to the Board Tan Sri Mohd Hassan Marican, who joined us on 15 February as an independent director. I also thank UPAGE for its sterling service in upholding the interests of its members, while working closely with the SP Group Management, as well as the Unions representing our employees in Australia, for their unwavering effort in building the close ties that we enjoy. My gratitude also goes to our business partners and customers for their continued support. Looking Ahead With the fast-changing landscape of the industry, the future will no doubt bring new challenges. We must be ready to take on the challenges that lie ahead. We will continue to benchmark our engineering capabilities against the world’s best, and constantly look to improve our systems and embed in our processes the best practices that drive greater efficiency in our operations and achieve the best performance. Not least, we will continue to invest in developing our people’s potential. Their expertise and their drive to set new benchmarks in the face of new challenges are critical to the continued growth and success of Singapore Power. As Singapore Power continues to build on its capabilities to keep pace with the changing industry landscape and new challenges, I am confident that we have what it takes to seize new growth opportunities and take SP to greater heights in the years to come. I also wish to extend my deep appreciation to Mr Eric Gwee who will be retiring from the Board at the SP Annual General Meeting in July 2011. SP has benefited much from Mr Gwee’s contributions and years of dedicated service. Our achievements in FY 10/11 were made possible because of the dedication and commitment of our staff. To all of them, I extend my sincere appreciation. Ng Kee Choe Chairman 12 July 2011 9 Singapore Power Annual Report 2010 Financial Highlights OPERATING REVENUE (S (S $million) OPERATING REVENUE (S (S $million) 8,000 7,805 7,215 6,626 8,000 6,000 7,805 7,215 6,626 4,000 6,000 4,000 2,000 7,215 7,215 7,215 7,215 6,626 6,626 6,626 6,626 TOTAL ASSETS (S$million) TOTAL ASSETS (S$million) 40,000 30,276 31,114 40,000 30,000 26,298 30,276 31,114 30,000 20,000 26,298 20,000 10,000 UNDERLYING NET PROFIT AFTER TAX* (S$million) UNDERLYING NET PROFIT AFTER TAX* 1000 (S$million) 893 893 1000 800 800 800 600 600 800 600 400 400 600 400 200 200 400 728 728 616 616 893 893 728 728 616 616 2,000 0 0 0 0 FY FY FY FY FY FY 08/09 09/10 10/11 FY FY FY FY FY FY 08/09 09/10 10/11 10,000 0 0 0 0 FY FY FY FY FY FY 08/09 09/10 10/11 FY FY FY FY FY FY 08/09 09/10 10/11 200 200 0 0 0 0 FY FY FY FY FY FY 08/09 09/10 10/11 FY FY FY FY FY FY 08/09 09/10 10/11 SHAREHOLDERS’ EQUITY (S$million) SHAREHOLDERS’ 8,000 EQUITY (S$million) ECONOMIC VALUE ADDED (EVA) (S$million) ECONOMIC VALUE 400 400 ADDED (EVA) (S$million) UNDERLYING RETURN ON ON EQUITY* (S$million) UNDERLYING RETURN 20 20ON ON EQUITY* (S$million) 8,000 6,000 6,000 4,000 4,000 2,000 6,783 7,843 4,052 6,783 7,843 4,052 400 400 300 300 300 300 200 200 200 200 100 100 172 172 172 172 212 212 212 212 339 339 339 339 20 16 16 20 16 12 12 16 12 8 12 8 84 48 14.2% 13.4% 14.2% 12.2% 13.4% 12.2% 2,000 0 0 0 0 FY FY FY FY FY FY 08/09 09/10 10/11 FY FY FY FY FY FY 08/09 09/10 10/11 100 100 0 0 0 0 FY FY FY FY FY FY 08/09 09/10 10/11 FY FY FY FY FY FY 08/09 09/10 10/11 40 04 0 0 FY FY FY FY FY FY 08/09 09/10 10/11 FY FY FY FY FY FY 08/09 09/10 10/11 *Excluding Exceptional and Non-recurring items 10 Singapore Power Annual Report 2010 Group Structure singapore operations Australia operations Main Businesses Other Businesses Main Businesses SP PowerAssets SP Telecommunications SP AusNet (51%) PowerGas Singapore District Cooling (60%) SPI (Australia) Assets SP PowerGrid SP Services SP Training and Consultancy Company SPI Management Services Jemena Asset Management Asset-owning companies Management service companies Singapore Operations Our Singapore Operations have four main business units – SP PowerAssets, PowerGas, SP PowerGrid and SP Services. They also have a technical training and management consultancy arm and related businesses. SP PowerAssets owns the electricity transmission and distribution assets, while PowerGas owns the gas transmission and distribution assets in Singapore. SP PowerGrid manages the electricity and gas transmission and distribution networks owned by SP PowerAssets and PowerGas. SP Services provides market support services to electricity, gas and water customers, and facilitates electricity retail market competition. SP Telecommunications provides telecom infrastructure services, leveraging SP’s expertise in managing and developing infrastructure assets. Singapore District Cooling is a joint-venture company providing chilled water for the air-conditioning of commercial buildings. Australia Operations Our Australia Operations have four main business units – SP AusNet, SPI Management Services, SPI (Australia) Assets and Jemena Asset Management Co. SP AusNet owns and operates Victoria’s primary electricity transmission network, an electricity distribution network in eastern Victoria, and a gas distribution network in western Victoria. SPI (Australia) Assets is the holding company for assets acquired from the former Alinta Ltd. SPIAA and its subsidiaries own gas transmission pipelines, gas and electricity distribution networks, and an asset services provider business. SPI Management Services is the management company operating the business of SP AusNet under a management services agreement. Jemena Asset Management Co. manages the assets owned by SPI (Australia) Assets and its subsidiaries. It also provides third-party asset development, construction and management services. SP Training and Consultancy Company provides consultancy, training and management services, leveraging SP’s expertise in developing and operating energy utility infrastructure and businesses. 11 Singapore Power Annual Report 2010 Awards & Accolades SINGAPORE OPERATIONS ISO 9001:2008 Certification for Quality Management System • SP PowerGrid (Distribution Control & Customer Services Section) by Certification International, FY 06/07 to present • SP PowerGrid (Network Development) (Electricity) by Certification International, FY 02/03 to present • SP PowerGrid (Network Management) (Electricity) by Certification International, FY 02/03 to present • SP PowerGrid (Gas Operations) by SGS International Certification Services Singapore Pte Ltd, FY 00/01 to present • SP Services by BSI Management Systems, FY 04/05 to present Singapore Quality Class Certification (STAR) • SP Services by SPRING Singapore, 2010 to 2013 Singapore Service Class Certification • SP Services by SPRING Singapore, 2010 to 2013 ISO/IEC 17025 for Calibration and Measurement of Gas Meters • PowerGas by the Singapore Accreditation Council- Singapore Laboratory Accreditation Scheme, 2005 to present People Developer by SPRING Singapore • Singapore Power, 2000 to 2013 • SP PowerGrid, 2005 to 2012 • SP Services, 2005 to 2013 Singapore H.E.A.L.T.H. (Helping Employees Achieve Life-Time Health) Award, Gold • Singapore Power Group by the Health Promotion Board, 2004 to 2010 Work-Life Achiever Award • Singapore Power Group by the Ministry of Manpower, 2006 to 2010 Leading HR Practices Awards in Strategic HR, Employee Relations & People Management, Compensation and Rewards Management, Learning & Human Capital Development and The Corporate HR Award • Singapore Power Group by the Singapore Human Resources Institute, 2009 Minister for Defence Award • Singapore Power Group by the Ministry of Defence, 2005 to 2010 The Minister’s Honours Roll & Minister for Home Affairs Award • Singapore Power Group by the Ministry of Home Affairs, 2008 to 2010 SHARE Corporate Gold Award • Singapore Power Group by the Community Chest, 2003 to 2008 Special Events Platinum Award • Singapore Power Group by the Community Chest, 2006 to 2008 Gold Award for Most Innovative Use of Technology in a Contract Centre • SP Services by the 2010 International Contact Centre Award 12 Singapore Power Annual Report 2010 Awards & Accolades Gold Award for Best Contact Centre Manager of the Year • SP Services by the 2010 International Contact Centre Award Certificate of Merit for Superior Achievement • Singapore District Cooling by the 2011 International District Energy Climate Awards 2011 OHSAS Certification for Occupational Health & Safety Management System • Singapore District Cooling by TÜV SÜD PSB Pte Ltd, 2008 to 2011 AUSTRALIA OPERATIONS BSI PAS 55 Certification to British Asset Management Specification • SP AusNet by Asset Management Consulting Limited, 2008 to 2013 Innovation in Utility Services Engineering Award • Jemena Sydney Primary Loop Project by the Institute of Public Works Engineering Australia (NSW) Safety Initiative Award • Jemena Gas Networks by the 2010 New South Wales Gas Awards for Excellence Engineers Australia Graduate Electrical Power Engineer of the Year Award for 2011 • Jemena Gas Networks, 2011 Meritorious Contribution to the Gas Industry • Jemena Gas Networks by the 2011 New South Wales Gas Awards for Excellence Team of Excellence in a Long Term Alliance • CLM Infrastructure (a member of the Jemena Group of Companies) by the Alliancing Association of Australasia 2009 Equal Opportunity for Women in the Workplace Agency (EOWA) Business Achievement Award for Outstanding Equal Employment Opportunity (EEO) Practice • SP AusNet by the Equal Opportunity for Women in the Workplace Agency (EOWA), 2009 Excellence for Employers of Australian Apprentices • SP AusNet by the Federal Skills Minister – 2010 Minister’s Award Innovation Award • SPI (Australia) Assets by the 2011 New South Wales Gas Awards for Excellence 13 Singapore Power Annual Report 2010 Corporate Review Riding on the global economic recovery in FY 10/11, the SP Group registered significant growth in both its Singapore and Australia operations. Indeed, the SP Group’s continued strategic focus on the transmission and distribution segments of the electricity and gas industries stood it in good stead, with the Group’s revenue and earnings rising significantly. SP remains dedicated to strengthening its core capabilities and expertise. We achieve this by continuing to invest in the development of our technical and operational competencies, as well as in our people. SP’s strong growth is supported by four key pillars: Investment Strategy Financing Strategy & Capital Management Investment Strategy The SP Group constantly seeks to improve returns for its stakeholders, as well as deliver sustainable longterm value. SP’s investment in Australia represents 69% of the Group’s total assets. The financial contribution from SP’s business in Australia increased from 33% in FY 09/10 to 51% in FY 10/11. This increase was contributed mainly by regulated network businesses through higher capital investments, as well as better performance by Jemena’s service business. The recovery of many economies from the global financial crisis has also resulted in a renewed interest in infrastructural investments in Singapore, Australia, Europe and USA, and presented opportunities for SP to establish strategic investment partnerships with global financial investors. Financing Strategy & Capital Management As a result of the improved financial market and liquidity conditions, the SP Group has been able to finance its capital expenditure programme and refinance its maturing debt at competitive rates. Significant financial transactions completed during the year include the following: • SP PowerAssets issued a total of S$740 million of bonds under its S$8 billion Global Medium Term Note Programme. These issuances comprised three bonds in two different currencies, with maturities ranging from 7 to 12 years; Operational Excellence Human Capital • SP AusNet completed A$800 million of financing through a series of bank debt facilities, as well as a 10- year A$250-million bond issued in March 2011; and • SPI (Australia) Assets established itself in the capital markets with three bond issuances totalling A$1,094 million. These issuances, which were in three different currencies, have maturities ranging from 5 to 10 years. In addition, SPI (Australia) Assets also put in place A$1,700 million of bank debt facilities. 14 Singapore Power Annual Report 2010 Corporate Review The proceeds from the bond issuances have been used mainly to refinance maturing bank debt, while stretching out the Group’s debt maturity profile. The SP Group is committed to maintaining a prudent financial profile, as well as a strong credit rating. SP is currently rated AA- / Aa3 (both ratings on “stable outlook”) by Standard & Poor’s and Moody’s Investors Service respectively. Operational Excellence SP continues to build on its core strengths and capabilities to compete with the industry’s best. In Singapore, the average duration of unplanned electricity interruption a customer experienced was less than a minute, i.e. 0.7 minute, which represents a system reliability of 99.9999%. Similarly, the network performance for gas in the same period was also well within regulatory targets, with SAIDI and SAIFI scores of 0.313 minute and 0.0025 interruptions per customer per year respectively. Building Human Capital With more than 7,500 staff in Singapore and Australia, enhancing our employees’ skills is key to strengthening our core competencies and sustaining our leading performance levels to secure our future. To successfully operate our asset owner-asset manager business model, we are firmly committed to investing in our people to deepen our bench strength. We upgrade their skills by providing opportunities for higher learning, on-thejob training, participation in specialist and apprenticeship training schemes, overseas cross-postings and job rotations. We support them in their pursuit of lifelong learning by providing subsidies for personal development courses. We stress a culture of open communication and work-life balance so that they lead healthy and enriching lives. We actively create communication avenues to listen to them so as to understand their needs. We introduced flexi-hours, the Work-from-Home Scheme as well as profamily leave schemes to help them balance the demands of work and family. On the customer service front, SP Services continued to achieve recognition for its excellent service through consistent service delivery and new initiatives. In December 2010, a benchmarking survey conducted by leading electricity consultancy, KEMA International, established that SP Services had outperformed major utilities overseas in terms of cost efficiency and service levels. In Australia, SP AusNet continued to invest in initiatives to improve performance and reliability. The electricity distribution network received several technological upgrades, allowing a faster response time to outages and the ability to switch power around the network from other areas if a fault occurs. The year in review also saw Jemena celebrate ten years of safe and efficient operation and maintenance of the Eastern Gas Pipeline (EGP). The pipeline provides natural gas to over 40% of Sydney as well as the Australian Capital Territory (Canberra). 15 Singapore Power Annual Report 2010 Board of Directors Mr Ng Kee Choe Mr Ng Kee Choe, 67, is the non-executive Chairman of Singapore Power Limited. He was appointed Director on 1 September 2000 and became its Chairman on 15 September 2000. He is also the non-executive Chairman of SP AusNet*. Mr Ng is also Chairman of NTUC Income Insurance Co-operative Limited and President Commissioner of PT Bank Danamon Indonesia Tbk. His other directorships include those of SATS Ltd, Singapore Exchange Limited, Fullerton Financial Holdings Pte Ltd and CapitaLand Limited. He is also a member of the Temasek Advisory Panel, a member of the International Advisory Council of China Development Bank and Chairman of Tanah Merah Country Club. Mr Ng was the Vice-Chairman of DBS Group Holdings. He retired from his executive position in July 2003 after 33 years of service with DBS. Mr Ng was conferred the Public Service Star in 2001. Mr Alan Chan Heng Loon Mr Alan Chan Heng Loon, 58, is a non-executive independent Director of Singapore Power Limited. He was appointed on 1 June 2001 and is also the Chairman of SP PowerAssets Limited and PowerGas Limited. Mr Chan is the Chief Executive Officer and a Director of Singapore Press Holdings Limited. He is the Chairman of the Urban Redevelopment Authority, the Corporate Governance Council and SPH Magazines Pte Ltd. He is also a member of the Board of Governors of The Singapore-China Foundation and the Public Service Commission. He sits on the boards of MediaCorp TV Holdings Pte Ltd, MediaCorp Press Ltd, Singapore Press Holdings Foundation Limited, TP Ventures Pte Ltd, GMM Times Company Limited, OpenNet Pte Ltd, Business China, Magazines World Sdn Bhd, Blu Inc Holdings Malaysia Sdn Bhd, Blu Inc Media Sdn Bhd and World Association of Newspaper – IFRA. Previously, Mr Chan was the Permanent Secretary for the Ministry of Transport and held directorships in DBS Group Holdings Ltd, The Development Bank of Singapore Ltd, PSA Corporation Ltd and the Casino Regulatory Authority of Singapore. Mr Chan was awarded the Public Administration Medal (Gold) in 2002. 16 Singapore Power Annual Report 2010 Board of Directors Mr Eric Gwee Teck Hai Mr Eric Gwee Teck Hai, 72, is a non-executive independent Director of Singapore Power Limited. He was appointed on 1 January 2001. He is also a Director of SP AusNet*. He retired as Chairman of SP Services Limited in July 2010. Mr Gwee is also a Director of WorleyParsons Ltd. He was the Chairman of the Board of Governors for the Institute of Technical Education (ITE) and the Public Transport Council until 2001. He retired as Director of Melbourne Business School Ltd in May 2010. For his many years of dedicated service to the community, Mr Gwee was awarded the Public Service Star in 1994 and the Public Service Star (Bar) [BBM(L)] in 2004. He was also honoured with the Meritorious Service Medal in 2007. Mr Ho Tian Yee Mr Ho Tian Yee, 59, is a non-executive independent Director of Singapore Power Limited. He joined the Board on 1 May 2003 and is also a Director of SP AusNet*. Mr Ho is the Managing Director of Pacific Asset Management (S) Pte Ltd. He holds directorships in publicly-listed companies including Fraser and Neave, Limited, Singapore Exchange Limited, and is recently appointed to the Board of DBS Group Holdings and DBS Bank Ltd. In nonlisted companies, he is the Chairman of Times Publishing Limited and a Director of Fullerton Fund Management Co. Ltd. Mr Ho was awarded the Public Service medal in 1997. 17 Singapore Power Annual Report 2010 Board of Directors Mr Tan Chee Meng, SC Mr Tan Chee Meng, 54, is a non-executive independent Director of Singapore Power Limited. He was appointed on 1 August 2005. He was appointed to the Board of SPI (Australia) Assets Pty Ltd on 1 September 2010. Previously, Mr Tan was a Director of SP PowerAssets Limited and PowerGas Limited. Mr Tan is the Deputy Managing Partner of WongPartnership LLP. He was appointed Senior Counsel in January 2006 and is a Fellow of the Singapore Institute of Arbitrators and an Accredited Adjudicator of the Singapore Mediation Centre. He is a Regional Panel Arbitrator of the Singapore International Arbitration Centre and is on the Panel of Accredited Arbitrators of Badan Arbitrase Nasional Indonesia. Mr Tan is also a board member of Urban Redevelopment Authority, Jurong Town Corporation, St Gabriel’s Foundation, All Saints Home, WOPA Services Pte Ltd, Mapletree Commercial Trust Management Ltd and Mun Siong Engineering Ltd. Mr Bobby Chin Yoke Choong Mr Bobby Chin Yoke Choong, 59, is a non-executive independent Director of Singapore Power Limited. He was appointed on 23 January 2006. Mr Chin serves on the boards of the Competition Commission of Singapore, Singapore Labour Foundation and is the Chairman of Singapore Totalisator Board. He is a Director of several listed companies including Oversea-Chinese Banking Corporation Limited, AV Jennings Limited, Yeo Hiap Seng Ltd, Ho Bee Investment Limited, Neptune Orient Lines Limited and Sembcorp Industries Ltd. He also sits on the Board of Trustees of the Singapore Indian Development Association (SINDA). He was appointed to the Council of Presidential Advisers in January 2010. Mr Chin was the Managing Partner of KPMG Singapore from 1992 to 2005. He served as Chairman of the Urban Redevelopment Authority from April 2001 to March 2006. In 2003, Mr Chin was awarded the Public Service Medal. 18 Singapore Power Annual Report 2010 Board of Directors Prof Jeremy Guy Ashcroft Davis AM Prof Jeremy Guy Ashcroft Davis, 68, is a nonexecutive independent Director of Singapore Power Limited. He was appointed on 1 August 2006 and is also a Director of SP AusNet*. Prof Davis is the Chairman of UNSW Professorial Superannuation Pty Ltd and the Deputy Chairman of AMWIN Management Pty Ltd. He currently serves as a Director of the Transurban Group, CHAMP Ventures Pty Ltd, Australian Institute of Management NSW & ACT Ltd and Asian Renewable Energy Management Ltd. He was the former AMP Society Professor at the Australian Graduate School of Management. Prof Davis spent ten years as a management consultant with the Boston Consulting Group. He also served as a Director of the Australian Stock Exchange from 1990 to 1996, and as a Director and Chairman of AIDC Limited and Amdel Holdings Pty Ltd. Mr Choi Shing Kwok Mr Choi Shing Kwok, 52, is a non-executive independent Director of Singapore Power Limited. He was appointed on 1 August 2006. He is the Permanent Secretary of the Ministry of Transport. He was formerly a Director of Singapore Technologies Electronics Limited, Sembawang Resources Development Corporation Ltd, Singapore Automotive Engineering Ltd and Chartered Ammunition Industries Pte Ltd. He has also served as a member of the National University of Singapore Council, the Singapore Broadcasting Authority and the Jurong Town Corporation. Mr Choi was awarded the Meritorious Service Medal in 2000, and the Long Service Award (25 years) in 2004 by the Government of Singapore, and has also received state awards from foreign governments. 19 Singapore Power Annual Report 2010 Board of Directors Mrs Oon Kum Loon Mrs Oon Kum Loon, 60, is a non-executive independent Director of Singapore Power Limited. She was appointed on 1 April 2010. Mrs Oon was appointed to the Boards of SP PowerAssets Limited and PowerGas Limited on 1 September 2010. Mrs Oon’s other directorships include Keppel Corporation Limited, Keppel Land Limited and Aviva Ltd. Mrs Oon has approximately 30 years of extensive experience with DBS Bank Ltd. She was the Chief Financial Officer of the Bank before she retired in 2003. Prior to serving as Chief Financial Officer, she was the Managing Director and Head of Group Risk Management. Tan Sri Mohd Hassan Marican Tan Sri Mohd Hassan Marican, 58, is a nonexecutive independent Director of Singapore Power Limited. He was appointed on 15 February 2011. Tan Sri Hassan currently sits on the boards of Lambert Energy Advisory Limited, Regional Economic Development Authority (RECODA), Sarawak, Sarawak Energy Berhad and publicly-listed company Sembcorp Industries Ltd. Previously, Tan Sri Hassan served as the Chairman of Malaysia International Shipping Corporation Berhad, Petronas Gas Berhad, Petronas Dagangan Berhad, Engen Limited – South Africa and Kumpulan Wang Amanah Negara. He was formerly the President and Chief Executive Officer of Petroliam Nasional Berhad (PETRONAS) as well as its Acting Chairman. Tan Sri Hassan has also served on the boards of Bank Negara Malaysia, East Coast Economic Region (ECER) Development Council and Malaysia Thailand Joint Development Authority. Tan Sri Hassan was awarded the Federal title Tan Sri (P.S.M.) in 1997, Commandeur De La Legion D’Honneur Republic of France in 2000 and The Friendship Medal (First Class) The Socialist Republic of Vietnam in 2001. 20 Singapore Power Annual Report 2010 Board of Directors Mr Ng Yat Chung Mr Ng Yat Chung, 49, is a non-executive Director of Singapore Power Limited. He was appointed on 1 April 2010. Mr Ng was appointed to the Board of SPI (Australia) Assets Pty Ltd on 15 September 2010. Mr Ng joined the NOL Group Board of Directors as Executive Director on 2 May 2011. Prior to joining NOL, Mr Ng was a Senior Managing Director at Temasek Holdings (Private) Limited. Previously, he was the Chief of Defence Force in the Singapore Armed Forces (SAF). During his career in the SAF, Mr Ng served in various senior command and staff positions in planning, operations and logistics. His major assignments included Chief of Staff (Joint Staff) and Chief of Army. Mr Ng is the Chairman of the Board of Trustees for the Singapore Institute of Technology and a Trustee of the National University of Singapore. He was also a Director of PSA Corporation Ltd, ST Aerospace Supplies Pte Ltd, publicly-listed Singapore Technologies Engineering Ltd, Singapore Technologies Kinetics Ltd, Singapore Technologies Electronics Limited and Fraser and Neave, Limited. Mr Quek Poh Huat Mr Quek Poh Huat, 64, was appointed a Director of Singapore Power Limited in November 2001 and Group Chief Executive Officer in May 2004. Within the Singapore Power Group, Mr Quek serves as Director on the boards of SP PowerAssets Limited, PowerGas Limited and SP Services Limited. He is currently Chairman of SP PowerGrid Limited, SPI Management Services Pty Ltd, SPI (Australia) Assets Pty Ltd and Enterprise Business Services (Australia) Pty Ltd. Mr Quek is also a Board Director of publicly-listed Singapore Technologies Engineering Ltd and Chairman of Singapore Technologies Kinetics Ltd. Mr Quek is Singapore’s non-resident Ambassador to Sweden. He was conferred the Public Service Star in 1994. * A stapled group comprising SP Australia Networks (Transmission) Ltd, SP Australia Networks (Distribution) Ltd and SP Australia Networks (Finance) Trust, acting through its responsible entity, SP Australia Networks (RE) Ltd. It is dual-listed on the Australian Stock Exchange and the Singapore Exchange Securities Trading Limited. 21 Singapore Power Annual Report 2010 Organisational Structure BOARD OF DIRECTORS Chairman Mr Ng Kee Choe Group Chief Executive Officer Mr Quek Poh Huat Head (Internal Audit) Ms Madalene Hee • Reports to Board Audit Committee Chief Operating Officer Mr Ong Boon Hwee Chief Financial Officer Ms Lim Lay Hong Group Chief Information Officer Mr Wong Chit Sieng General Counsel & Company Secretary Ms Helen Tay Bee Hoon Managing Director SP AusNet & SPI Management Services Mr Nino Ficca Managing Director SPIAA/Jemena Mr Paul Adams Managing Director SP PowerGrid Mr Sim Kwong Mian Managing Director Strategic Investments Mr Lim Howe Run Managing Director SP Services Mrs Jeanne Cheng Group Finance Subsidiaries’ Finance Head Human Resource Ms Lim Chor Hoon Group Risk Management Subsidiaries’ Risk Management • Reports to Board Risk Management Committee Deputy Managing Director (Strategy & Planning) Mr Jimmy Khoo Deputy Managing Director (Projects) Mr Chung Choon Heong General Manager (Network Development) Mr Peter Leong General Manager (Network Management) Mr Chew Min Lip 22 Singapore Power Annual Report 2010 Corporate Governance ETHICS & ACCOUNTABILITY The SP Board is committed to good corporate governance. The Group adheres closely to the principles set out in the revised Code of Corporate Governance 2005 (the Code) for listed companies. The Company has adopted the Code as its guide for best practice standards and put in place an internal framework to ensure good corporate governance in its business practices and activities. The Whistleblower Policy, implemented since 2005, seeks to strengthen ethical business conduct in the Group. The Group endeavours to enhance shareholder value by ensuring the highest standards of corporate governance, transparency, accountability and integrity. Setting Directions The Board provides broad strategic directions for the Group and undertakes key investment and funding decisions. In addition, the Board ensures that Management maintains a robust system of internal controls to protect the Group’s assets and reviews the Group’s financial performance. The Board meets at least four times a year to review the Group’s business performance. In the last financial year, the Board met three times and held a Board Strategic Review in November 2010. Access to Information The Board is provided with relevant information prior to Board meetings and on an ongoing basis. Board papers include management financial reports, annual budgets and performance against budget, announcement of results, matters requiring the Board’s decision, updates on key outstanding issues and disclosure documents as well as updates on new legislative developments. Newly appointed Board Directors attend an orientation programme to familiarise themselves with the Group’s business and governance practices. The Board has separate and independent access to the Senior Management and the Company Secretaries. Should the Directors, whether as a group or individually, require independent professional advice to carry out their duties, the Company will arrange to appoint, at the Company’s expense, professional advisors to render due advice. Accountability In presenting the annual financial statements to the shareholder, the Board aims to provide the shareholder with a balanced and comprehensive assessment of the Group’s position and prospects. Management provides the Board with appropriately detailed management accounts of the Group’s performance, prospects and a risk dashboard on a monthly basis. There is a strong element of independence in the Board composition with independent non-executive Directors constituting three-quarters of the entire Board. The independence of each Director is reviewed annually by the Nominating Committee in accordance with the Code. The current size of 12 Board members is appropriate for effective decision-making, taking into account the scope and nature of the Group’s operations. Collectively, the Directors have a wealth of expertise and experience in the management of business at senior and international levels. Board Committees The SP Board is supported by specialised board committees to facilitate effective supervision of Management. These are the Audit Committee, the Board Risk Management Committee, the Finance Committee, the Nominating Committee and the Staff Development and Compensation Committee respectively. As and when required for specific projects, special board steering committees and due diligence committees are formed to provide support and guidance to Management. SP AusNet, as a publicly-listed stapled entity on the Australian Securities Exchange and the Singapore Exchange Securities Trading Limited, has established its own Audit and Risk Management Committee, Nomination Committee, Remuneration Committee as well as Compliance Committee to ensure a high standard of corporate governance. Audit Committee The Audit Committee (AC) comprises three non-executive Directors, all of whom are independent Directors as defined in the Code, and a co-opted external member. The Board is of the view that the members of the AC have the financial management expertise and experience to discharge the AC’s responsibilities. 23 Singapore Power Annual Report 2010 Corporate Governance The main function of the AC is to assist the Board in discharging its statutory and oversight responsibilities relating to the financial reporting and audit processes, the systems of internal controls and the process of monitoring compliance within applicable laws, regulations and codes of conduct. The AC is responsible for the following: • Review and approval of the audit plans of external and internal auditors; • Review of the adequacy of the internal audit function; • Review of the financial accounts of the Group and the Company; • Review of the independence and objectivity of the external auditors; and • Nomination of external auditors for re-appointment. The AC holds at least three meetings a year. Its members are: Mr Bobby Chin Yoke Choong (Chairman) Mr Tan Chee Meng Mr Choi Shing Kwok Mr Timothy Chia Chee Ming (co-opted external member) Board Risk Management Committee The Board Risk Management Committee (BRMC) comprises four Directors, three of whom are independent non-executive Directors, and a co-opted external member. The BRMC assists the Board in fulfilling its oversight responsibilities by reviewing: • The types and levels of business risks that the Company, its subsidiaries and associated companies undertake on an integrated basis to achieve their business strategy; and • The policies, procedures and methodologies for identifying, assessing, quantifying (where appropriate), monitoring and managing risks. The BRMC is supported by the Group Risk Management Office in its governance of SP Group risks. Although the risk management responsibilities of the Board are executed through the organisational set-up mentioned above, the ultimate risk ownership rests with the business groups. The BRMC meets at least three times a year. Its members are: Mr Ho Tian Yee (Chairman) Mr Tan Chee Meng Mrs Oon Kum Loon Mr Paul Chan Kwai Wah (co-opted external member) Mr Quek Poh Huat (ex-officio)* Finance Committee The Finance Committee (FC) comprises five Directors, two of whom are independent Directors. The FC assists the Board in reviewing proposed mergers, acquisitions, divestments and corporate restructuring and financing for the SP Group. The responsibilities of the FC are to: • Consider and recommend, for the Board’s approval, SP’s annual operating and capital expenditure budgets, and business and financing plans; • Approve or endorse mergers, acquisitions, divestments or corporate restructuring; • Approve or endorse SP’s borrowing and financing related matters; and • Approve or endorse such other matters from time to time as provided for in the SP Authority Manual. The FC holds at least two meetings a year. Its members are: Mr Ng Kee Choe (Chairman)* Mr Eric Gwee Teck Hai Mr Ho Tian Yee Mr Ng Yat Chung* Mr Quek Poh Huat (ex-officio)* Nominating Committee The Nominating Committee (NC) comprises three Directors. The Chairman of the NC is an independent nonexecutive Director. The NC is responsible for formulating policies and guidelines on matters relating to Board 24 Singapore Power Annual Report 2010 Corporate Governance appointments, re-appointments, retirement and rotation of Directors. The Directors’ performance, contribution and independence are taken into consideration in the NC’s review and assessment. The NC, in consultation with the Chairman of the Board, considers and makes recommendations to the Board concerning the appropriate size and needs of the Board. New Directors are currently appointed by way of a Board resolution after the NC has endorsed their appointment. New Directors must submit themselves for re-election at the next Annual General Meeting (AGM) of the Company, pursuant to the Articles of Association of the Company. The Articles of Association of the Company also require not less than one-third of Directors to retire by rotation at every AGM. The NC meets at least twice a year. Its members are: Mr Alan Chan Heng Loon (Chairman) Mr Ng Kee Choe* Mr Quek Poh Huat* Staff Development and Compensation Committee The Staff Development and Compensation Committee (SDCC) comprises three Directors, two of whom are independent Directors. The SDCC oversees the remuneration of the Group Chief Executive Officer and senior executives. The SDCC establishes and maintains an appropriate and competitive level of remuneration to attract, retain and motivate senior executives to manage the Group successfully. No Director is involved or has participated in any proceedings with respect to his own remuneration. The SDCC meets at least twice a year. Its members are: Mr Ng Kee Choe (Chairman)* Mr Alan Chan Heng Loon Mr Bobby Chin Yoke Choong Communication with Shareholder The Company values communication and ensures that timely and adequate disclosures of material information on the Company are made available to its shareholder. It holds regular dialogue and liaison sessions with the shareholder. Board Composition Board Members Audit Committee Board Risk Management Committee Finance Committee Nominating Committee Staff Development & Compensation Committee Mr Ng Kee Choe, Chairman* - - Chairman Member Chairman Mr Alan Chan Heng Loon - - - Chairman Member Mr Eric Gwee Teck Hai - - Member - - Mr Ho Tian Yee - Chairman Member - - Mr Tan Chee Meng Member Member - - - Mr Bobby Chin Yoke Choong Chairman - - - Member Prof Jeremy Guy Ashcroft Davis - - - - - Mr Choi Shing Kwok Member - - - - Mrs Oon Kum Loon - Member - - - Tan Sri Mohd Hassan Marican - - - - - Mr Ng Yat Chung* - - Member - - Mr Quek Poh Huat* - Ex-officio Ex-officio Member Board Committee Members Mr Timothy Chia Chee Ming Co-opted Member - - - - Mr Paul Chan Kwai Wah - Co-opted Member - - - As at 21 April 2011 *Non-independent 25 Singapore Power Annual Report 2010 Senior Management Mr Quek Poh Huat Mr Quek Poh Huat, Group Chief Executive Officer, is also Chairman of SP PowerGrid Limited, SPI Management Services Pty Ltd, SPI (Australia) Assets Pty Ltd and Enterprise Business Services (Australia) Pty Ltd, and a Director on the boards of Singapore Power Limited, SP PowerAssets Limited, PowerGas Limited and SP Services Limited. Mr Quek has a Bachelor of Science (Chemical Engineering) degree with First Class Honours from the University of Leeds, UK and a Master of Science (Management) with Distinction from the Naval Postgraduate School, Monterey, US. He has also completed the Advanced Management Program at the Harvard Business School, US. Mr Ong Boon Hwee Mr Ong Boon Hwee, Chief Operating Officer, oversees SP’s business units in Singapore as well as corporate services at the Group level. He also drives business development initiatives in the region. Prior to joining SP, he was Temasek’s Managing Director for Strategic Relations, and concurrently CEO of Temasek Management Services. Mr Ong is Director of ST Kinetics, Aetos Security Management and Singapore Institute of Management. He also serves on the committees of nonprofit organisations such as the National Volunteer & Philanthropy Centre, A*STAR and Temasek Foundation. Mr Ong graduated from the National University of Singapore with a First Class Honours in Economics, and holds a Masters in Military Art & Science from the US Leavenworth General Staff College. Ms Lim Lay Hong Ms Lim Lay Hong is the Chief Financial Officer of the SP Group, where she is responsible for providing financial strategy and leadership. This includes overseeing the corporate finance, treasury, financial management, tax planning and risk management functions of the Group. She is also responsible for corporate planning and strategic investments and has oversight of the SP Group’s overseas investments, including its Australia operations. Prior to joining SP, Ms Lim held a number of management and executive positions in a Singapore bank. Ms Lim holds a Bachelor of Accountancy degree from the National University of Singapore and a Master of Business Administration (Finance) from New York University. 26 Singapore Power Annual Report 2010 Senior Management Mr Sim Kwong Mian Mr Sim Kwong Mian, Managing Director, SP PowerGrid, has been with SP for 16 years. Prior to this, he was with the Public Utilities Board for 18 years. Mr Sim represents Singapore in the Heads of ASEAN Power Utilities/Authorities (HAPUA), which leads the power interconnection project to link the member countries’ electricity networks. Between June 2009 and May 2010, Mr Sim was Chairman of the HAPUA Council. He also represents Singapore as a council member in the Association of Electricity Supply Industry of East Asia and Western Pacific (AESIEAP). Mr Sim is a registered Professional Engineer with the Professional Engineers Board, Singapore, and a Senior Member of the Institution of Engineers, Singapore. He holds a Bachelor of Engineering (Electrical) degree from the University of Singapore, a Master of Science (Technology) from the University of Manchester Institute of Science & Technology, UK, and a Diploma in Management Studies from the Singapore Institute of Management. He has also completed the Advanced Management Program at the Harvard Business School, US. Mr Nino Ficca Mr Nino Ficca, Managing Director, SPI Management Services, is also Managing Director, SP AusNet*. He is a Director of SP Australia Networks (Transmission), SP Australia Networks (Distribution), SP Australia Networks (RE) and SP PowerGrid. Mr Ficca has worked in the energy industry for over 25 years, including in a number of senior management roles. He is a Director of the Energy Networks Association (ENA) and was previously Director and Deputy Chairman of the Energy Supply Association of Australia until December 2007. Mr Ficca holds a Bachelor of Engineering (Electrical) Honours degree and a Graduate Diploma in Management from Deakin University, Australia. He has also completed the Advanced Management Program at the Harvard Business School, US. Mr Paul Adams Mr Paul Adams was appointed Managing Director of SPIAA/Jemena Ltd in November 2008. He was previously General Manager, Network Services Group at SP AusNet*. Mr Adams has a breadth of experience having worked in various roles in the electricity and gas industries for more than 25 years, including transmission, distribution, generation, trading and retailing. Mr Adams holds a Bachelor of Engineering Degree (First Class Honours) and a Graduate Diploma of Financial Management. He has completed courses in Leading Change and Organisational Renewal (Harvard), Executive Development Program (Australian Graduate School of Management) and Company Directors Course (Australian Institute of Company Directors). Mr Adams is also a Director of the Energy Networks Association of Australia, Fellow of the Australian Institute of Management and Fellow of the Institution of Engineers (Australia). * A stapled group comprising SP Australia Networks (Transmission) Ltd, SP Australia Networks (Distribution) Ltd and SP Australia Networks (Finance) Trust, acting through its responsible entity, SP Australia Networks (RE) Ltd. It is dual-listed on the Australian Stock Exchange and the Singapore Exchange Securities Trading Limited. 27 Singapore Power Annual Report 2010 Senior Management Mr Wong Chit Sieng Mr Wong Chit Sieng, Group Chief Information Officer, oversees the group-wide delivery of Information and Communications Technology applications and services for SP’s Singapore and Australia businesses. He has over 30 years’ experience in strategic business IT planning and the development and management of banking and utilities application systems. Prior to his appointment as Group Chief Information Officer, Mr Wong was Head (Information Systems), Singapore Power Ltd, and Managing Director, SP Services. Before joining SP, Mr Wong was Director of Operations and Principal Consultant, Asia Pacific & Japan, at a US banking software company. He was also with the Overseas Union Bank for nine years as its Senior Vice President & Deputy CIO, and Vice President of Chase Manhattan Bank for 10 years. Mr Wong has a Bachelor of Business Administration with Distinction and a Master of Business Administration from the Royal Melbourne Institute of Technology, Australia. He also graduated from the Harvard Business School’s Advanced Management Program in 2009. Mrs Jeanne Cheng Mrs Jeanne Cheng was appointed Managing Director of SP Services Ltd in September 2009. In her nine years with SP Services, she helped establish the company in its new role as the market support services licensee, with the restructuring of the electricity market in 2003. Mrs Cheng has been with the SP Group for more than 15 years and has held senior positions in Corporate Communications and Business Development. Prior to joining the SP Group, Mrs Cheng worked as a media and communications specialist in both private and public sector entities. Mrs Cheng graduated from the National University of Singapore with a degree in Economics. She was awarded the Public Service Medal in 2009 for her community work. Mr Lim Howe Run Mr Lim Howe Run, Managing Director, Strategic Investments, is responsible for the strategic development and stewardship of SP’s overseas investments. Prior to his appointment as Managing Director, he held various positions in general management, risk management, asset management and business development within the Group. Mr Lim holds a Bachelor of Engineering (Mechanical) degree from the National University of Singapore. 28 Singapore Power Annual Report 2010 Senior Management Ms Helen Tay Bee Hoon Ms Helen Tay Bee Hoon, General Counsel & Company Secretary, provides legal advice on the Group’s major projects and transactions. She also assists the Board in the formulation and implementation of policies involving board governance. Prior to joining SP, Ms Tay was Director, Legal & Regulations, at Temasek Holdings. In her legal career of more than 20 years, Ms Tay has held several key legal and corporate secretarial positions in the Singapore Technologies/SembCorp Group including Head – Legal and Company Secretary of the SembCorp Logistics Group. She has also served in private practice for several years. Ms Tay holds a Bachelor of Law degree with Honours from the National University of Singapore and is a member of the Singapore Bar. Ms Lim Chor Hoon Ms Lim Chor Hoon, Head (Human Resource), has over 20 years’ experience in human resource. Ms Lim is overall responsible for the Human Resource policies and programmes of SP. Before joining the Group, she was with the NOL Group as Vice President, Talent Management and Global Learning and Development and Temasek Holdings as Director, Human Resource. She has also worked in GuocoLand Limited, United Overseas Bank Group, and the National University of Singapore. Ms Lim holds a Bachelor of Science in Psychology from the University of Wisconsin at Madison and a Graduate Diploma in Personnel Management. 29 Singapore Power Annual Report 2010 30 Singapore Power Annual Report 2010 Operations Review Singapore Operations Our Singapore operations have four main business units – SP PowerAssets, PowerGas, SP PowerGrid and SP Services. Other subsidiaries include a training and consultancy services arm – SP Training and Consultancy Company – as well as Singapore District Cooling and SP Telecommunications. 31 Singapore Power Annual Report 2010 Operations Review SP POWERASSETS Energising Singapore’s Electricity Infrastructure SP PowerAssets owns the electricity transmission and distribution assets in Singapore. Its S$7.3-billion fixed assets base comprises modern and robust networks at 400kV, 230kV and 66kV for transmission, and 22kV, 6.6kV and 400V for distribution. An engineer checking a 66kV switchboard. 32 Singapore Power Annual Report 2010 Operations Review In FY 10/11, SP PowerAssets continued to plan ahead to meet Singapore’s growing power needs. Network infrastructure projects to expand our capacity have been commissioned, and existing transmission assets have been progressively upgraded and replaced to ensure the sustainability of the electricity grid’s track record of high reliability: • A new 66kV substation at Banyan Drive has been commissioned to provide supply to the extensive petrochemical industrial developments in Jurong Island. In addition, the development of a major cable tunnel for the future installation of transmission cables on Jurong Island is in progress. The development of two major cable tunnels in Singapore, the 16.5km East-West tunnel and the 18.5km North- South tunnel, has commenced. When completed, they will provide secure corridors for faster and more efficient transmission cable installation. These two cable tunnels will also enable the orderly and controlled replacement of ageing 230kV circuits. • A new 66kV substation at Tuas has been commissioned to provide supply to the industrial developments at the Tuas View Extension. • As part of an ongoing network renewal programme for existing 66kV substations, the International Road and Pulau Ayer Merbau substations have been commissioned. The development of the new 400kV substation at Rangoon Road is in progress. Scheduled to be commissioned by December 2014, it will serve as a power injection node for bulk power transmission to the load centres in Central Singapore, and will help meet the rapid growth in demand. Two 230kV substations at Marina South and Tembusu are under construction. The Marina South substation is scheduled to be commissioned in 2012. This substation will serve as another primary power source supplying to Marina South’s future downtown area needs. New 230kV switchboards to replace existing ones at Tampines and Choa Chu Kang substations were completed. SP PowerAssets is working closely with the Economic Development Board (EDB), the Jurong Town Corporation (JTC), the Urban Redevelopment Authority (URA) and the Energy Market Authority (EMA) on the proposed 230kV substation at Tembusu, Jurong Island. This substation is scheduled for completion in first quarter 2014, and will cater for new customer connections, as well as manage fault-level margins for distributed generation (DG) connections on Jurong Island. SP PowerGrid achieves excellent network performance due to its strategic use of state-of-the-art equipment and condition monitoring technology. 33 Singapore Power Annual Report 2010 Operations Review POWERGAS Developing the Gas Network PowerGas owns Singapore’s gas transmission and distribution networks, and is the nation’s sole licensed gas transporter and system operator. Among PowerGas’s network assets are two onshore natural gas receiving facilities and 3,200km of underground town gas and natural gas pipelines. PowerGas plays a pivotal role in the efficient and reliable delivery of natural and town gas to customers. 34 Singapore Power Annual Report 2010 Operations Review Gas Network Extension and Reinforcement In FY 10/11, PowerGas extended the natural gas network by 1.3km and successfully connected one new transmission customer and two new distribution customers. The town gas network was also extended by 42km, reaching more customers in new public housing estates, as well as private residential and commercial premises. New Transmission Infrastructure Development PowerGas has been working closely with EMA and Singapore Liquefied Natural Gas Corporation Pte Ltd (SLNG Corp) to connect the proposed LNG Terminal to the existing transmission networks. Pipe-laying works and construction work for gas offtake stations on Jurong Island and Tuas South, which include a submarine pipeline crossing the West Jurong Channel, are in progress. The first phase of the project is scheduled to be completed by end-2012. Calibration of gas meters being conducted at the Meter Laboratory. The ultrasonic meter measures natural gas volumes. 35 Singapore Power Annual Report 2010 Operations Review SP POWERGRID MANAGEMENT Mr Sim Kwong Mian Managing Director Mr Jimmy Khoo Deputy Managing Director (Planning and Strategy) Mr Chung Choon Heong Deputy Managing Director (Projects) Mr Peter Leong General Manager (Network Development) Mr Chew Min Lip General Manager (Network Management) Mr Han Tek Fong General Manager (Planning and Asset Management) Dr Yoon Kok Thean General Manager (Procurement) Mr Law Chin Ho Head (Regulatory) Ms Loong Hui Chee General Manager (Finance) 36 Singapore Power Annual Report 2010 Operations Review SP POWERGRID Achieving World-class Network Performance SP PowerGrid manages the electricity and gas transmission and distribution networks in Singapore. SP PowerGrid’s expertise spans the planning and design of Singapore’s fully underground grid and gas networks. 37 Singapore Power Annual Report 2010 Operations Review Network Performance – Electricity SP PowerGrid’s network performance in FY 10/11 was well within the set targets. The consistent performance was attributed to diligent condition monitoring to avert potential failures and condition-based maintenance of the network. For FY 10/11, the network performance indicators – System Average Interruption Duration Index (SAIDI) and System Average Interruption Frequency Index (SAIFI) – were 0.7 minute and 0.04 interruption per customer per year respectively. Network Performance – Gas Gas network performance for FY 10/11 was well within regulatory targets. Gas SAIDI and SAIFI scores were 0.313 minute and 0.0025 interruption respectively. SAIDI measures the average duration of unplanned electricity or gas interruptions a consumer experiences in a year. As for SAIFI, it measures the average number of such interruptions in a year. Smart Grid Developments The Smart Grid has become a focus in Singapore during the year in review. This increasingly important innovation has been driven globally by the need to develop sustainable solutions for the reduction of carbon emissions and improvement of energy efficiency. The solutions have also been made possible by the rapid pace of technological advancement in info-commmunications and computer technologies. SP PowerGrid is continuing its momentum on the following smart grid initiatives: • Enhancing existing intelligent systems SP PowerGrid is building upon its existing SCADA (Supervisory Control & Data Acquisition system) to monitor 6.6kV substations as well as to extend its successful online partial discharge monitoring system to cover more substations. • Participation in the Intelligent Energy System Initiative SP PowerGrid is working closely with the Energy Market Authority (EMA) on the Intelligent Energy System (IES) project. The IES pilot project, located in the Nanyang Technological University over a period of three years, seeks to test and evaluate new applications and technologies around a smart grid. SP PowerGrid will gain in-depth knowledge and experience regarding the project’s development and eventual implementation of Smart Grid technologies. • Collaborating with research institutes and industry partners SP PowerGrid is also collaborating with various research institutes and industry partners such as A*Star to develop Smart Grid solutions, and increase its technical know-how in the process. One key area is in the Smart Energy Challenge (SEC) Project to develop an initial Cyber security blueprint architecture for electric vehicle (EV) charging infrastructure. The solutions or Intelligent Electronic Devices developed will ensure that the data transfer is secure, preparing our network for a future EV roll-out. • Conducting EV trials SP PowerGrid will work with partners to acquire three electric commercial vehicles, as part of their operational fleet, for trials. The trial aims to test the requirements and performance of EVs and examine the integration of EVs with operational IT systems. Data collected would be important to prepare for the eventual significant introduction of EVs in Singapore. Condition Monitoring for Better Performance In FY 10/11, SP PowerGrid continued to extend its online monitoring capability to transmission substations and transformers. 38 Singapore Power Annual Report 2010 Operations Review A technical study on the application of an Ultra High Frequency (UHF) sensor for partial discharge (PD) monitoring for extra high voltage (EHV) transformers was completed. The UHF sensors were earlier installed at the Tampines Wafer 230kV substation (phase shift transformer) and the Labrador 230kV substation for trial purposes. The usage of the sensors was endorsed by the Technical Engineering Practice Committee. By using the UHF PD sensor, SP PowerGrid’s capability in condition monitoring EHV transformers will be further enhanced. During the year, 25 potential failures on 22kV and 6.6kV cables were prevented by the Oscillating Wave Test System (OWTS). Since its inception in January 2006, OWTS has successfully prevented a total of 132 potential cable failures. Cutting-edge Oscillating Wave Test equipment helps engineers monitor the condition of high voltage cables. Two 230kV substations – Tampines and Choa Chu Kang – have been commissioned with an online partial discharge monitoring system. Two other 230kV substations at Labrador II and Ayer Rajah II have also been retrofitted with online condition monitoring systems. In addition, six power transformers and shunt reactors at Paya Lebar I, Paya Lebar II, Ayer Rajah and Pulau Seraya have been commissioned with an online dissolved gas analysis (DGA) monitoring system. To date, a total of 17 transmission substations have been installed with online partial discharge monitoring systems, and 20 transmission transformers and shunt reactors with online DGA monitoring systems. In addition, 81 potential failures were removed from the network through our concerted efforts in condition monitoring. This has contributed to an enhanced network performance. A pilot project to monitor the water level for gas syphons in areas prone to flooding was carried out during the year in review. The wireless remote monitoring of the water level in these syphons will enable timely action to be taken quickly and efficiently, thereby preventing the pipes from being choked and averting any disruption to gas supply. Prototypes were installed on-site to monitor water levels in the gas syphons. Knowledge Sharing and Customer Management To educate our customers on the best practices in managing electrical systems to achieve good power reliability and quality, a two-day workshop was conducted 39 Singapore Power Annual Report 2010 Operations Review Technicians dismantling 400kV circuit breaker mechanism for maintenance. in 2010 to share with them SP PowerGrid’s experience and practices in managing Singapore’s electricity network. The workshop was attended by engineers and plant managers from Singapore, as well as 31 delegates from six Association of Southeast Asian Nations (ASEAN) countries under the Heads of ASEAN Power Utilities/ Authorities (HAPUA). In the year, meetings were held with all the Power Quality Interest Groups, consisting of the Semiconductor and Electronics Group, the Pharmaceutical Group, the Chemical and Petrochemical Group, the Banking and Finance Group and the Essential Services Group. Specific concerns of the Groups were addressed, and experiences exchanged. Voltage dip tests on our customers’ essential equipment have been carried out to facilitate the planning for the implementation of power quality solutions. SP PowerGrid engineers also visited our customers’ installations to share with them good practices in mitigating voltage dips. Grid-connected Distributed Generation (DG) The year 2010 saw a trend of more DG in the network – most notably Grid-connected Photovoltaic (PV) systems. Compared to 2009, the numbers of PV applications have more than doubled. Power Quality & Transient Management engineers worked closely with Licensed Electrical Workers (LEWs) in the technical evaluation phase to ensure that all power quality requirements are met before any of the DG is turned on. Cable Jointing Apprenticeship Scheme Under the Cable Jointing Apprenticeship Scheme, the first batch of trainees would complete the one-year cable jointing course by mid-April 2011, becoming qualified Junior Cable Jointers. The Junior Cable Jointers will be deployed to carry out low voltage cable jointing work, and will be progressively given on-the-job training on high voltage and extra-high voltage cable jointing. 40 Singapore Power Annual Report 2010 Operations Review One-stop Service for Cables and Gas Pipe Diversion The MRT Diversion Unit provides a one-stop service for electricity and gas matters relating to the Downtown Lines, the Thomson Line and the Tuas West MRT Extension. The unit works closely with the Land Transport Authority (LTA) and its contractors to minimise the extent of diversions, and prevent any damage to services during construction. It is expected that a total of 200km of cables and pipes will be diverted in the next five years. Cable and Gas Pipe Damage Prevention Programme SP PowerGrid has continued to engage owners regarding large-scale development projects that can affect our underground cables and gas pipes. A Task Force comprising the Senior Management of SP PowerGrid, EMA and other agencies has been formed to spearhead cable and gas pipe damage prevention initiatives. The year in review also saw SP PowerGrid’s Cable Protection Management Teams (CPMT) hold regular meetings with agencies and their contractors to safeguard the underground services at construction sites. The CPMT has monitored a total of 42 sites. Optical Digital Network and Communication Network Enhancement In FY 10/11, SP PowerGrid installed and commissioned a new Optical Digital Network (ODN) infrastructure, consisting of Digital Multiplexers at 12 substations. This was to replace obsolete data retrieval multiplexers for SCADA and Energy Management Systems, as well as to further enhance security. To improve the security and efficiency of the Metropolitan Area Network, the copper-lined pilot access networks for 66kV substations were upgraded to utilise optical fibre cables. With 29,000km of underground cables to safeguard, SP PowerGrid has to be vigilant where damage prevention of our utility infrastructure is concerned. This is an ongoing programme which is scheduled for completion in FY 11/12. Wireless SCADA for 6.6kV Network The commissioning of the remote monitoring and control functions for 6.6kV substations with wireless SCADA is in progress. Up until FY 10/11, a total of 905 substations have been equipped with wireless remote monitoring and control capabilities. The remaining 95 substations will be commissioned in FY 11/12. Security Review on 22kV and 6.6kV SCADA Systems During the year in review, a security review was conducted on the 22kV and 6.6kV SCADA systems with the Infocomm Technology Department (ITD). 41 Singapore Power Annual Report 2010 Operations Review Security enhancement measures were implemented to address the possible risks pertaining to unauthorised access to the systems. Operating the New Gas Market SP PowerGrid is operating the web-based Gas Transportation IT System Solution (GTSS), which manages the transportation of natural gas according to the rules of the Gas Network Code (GNC). Since it came into effect on 15 September 2008 with the implementation of the GNC regime, the new gas market has been working well according to the rules of the GNC. Up until 31 March 2011, there have been 15 GNC modification proposals approved by EMA, which require SP PowerGrid to carry out GTSS modifications. SP PowerGrid has achieved all the GTSS Performance Level criteria set by the GNC. No major issues have been encountered regarding nominations/scheduling, transportation services and imbalance settlements. Inline Inspection of Gas Transmission Pipelines SP PowerGrid has completed the inline inspection of two gas transmission pipelines – from Sakra to Seraya in Jurong Island and from Jurong Pier to Tuas South. Magnetic Flux Leakage technology was used to inspect the internal pipelines for signs of corrosion, coating defects and metal loss. All the inspected pipelines were found to be in good condition. Accelerated Mains Renewal Programme The year in review also saw SP PowerGrid embark on a five-year accelerated gas mains renewal programme to renew cast/ductile iron gas pipelines that are more than 40 years old. Approximately 31km out of a total of 113km of gas mains were renewed or replaced with polyethylene pipes in FY 10/11. ISO Certification SP PowerGrid first obtained its ISO 9001:2000 certifications in 2002. In FY09/10, it received ISO 9001:2008 certification for the development and management of its transmission and distribution networks, distribution control and customer services and its gas operations covering network management, projects and system operations. These certifications affirm SP PowerGrid’s institutionalised quality processes that drive consistently high performance standards. Electricity Demand The growth in electricity demand in 2010 was underpinned by the year’s strong domestic economic growth of 14.5%. During the year in review, the volume of electricity transmitted and distributed rose by 5.2% to 41,304GWh. The higher electricity consumption was driven by the strong rebound in the energy-intensive manufacturing sector, as well as the broad-based expansion of the service industries. 42 Singapore Power Annual Report 2010 Operations Review System Average Interruption Duration Index (SAIDI) measures the average duration of unplanned interruptions a consumer experiences in a year Minutes 10 8 Minutes 2.5 2.101 2.0 6 5.00 5.37 1.5 1.422 4 2 0 4.00 3.85 3.70 1.99 2.20 2.25 1.21 1.14 0.690.31 0.70 0.47 97/98 98/99 99/00 00/01 01/02 02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 1.0 0.5 0.0 1.020 0.577 0.451 0.491 0.331 0.313 0.269 0.387 0.125 0.199 0.149 0.142 97/98 98/99 99/00 00/01 01/02 02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 Electricity SAIDI – Singapore Gas SAIDI – Singapore System Average Interruption FREQUENCY Index (SAIFI) measures the average number of unplanned interruptions a consumer experiences in a year Interruptions per Customer 0.12 0.106 0.10 0.090 0.097 0.097 Interruptions per Customer 0.025 0.0216 0.020 0.08 0.06 0.04 0.02 0.00 0.071 0.073 0.053 0.040 0.041 0.031 0.023 0.016 0.011 0.007 97/98 98/99 99/00 00/01 01/02 02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 Electricity SAIFI – Singapore 0.015 0.010 0.005 0.000 0.0147 0.0105 0.0058 0.0021 0.0035 0.0028 0.0016 0.0047 0.0040 0.0011 0.0020 0.0025 0.0011 97/98 98/99 99/00 00/01 01/02 02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 Gas SAIFI – Singapore KEY NEtWORK INDICATORS – SINGAPORE % Change 16 14 12 10 8 6 4 2 0 (2) (4) 1.6 (1.2) 01 5.0 4.2 4.6 2.9 9.2 3.7 7.4 4.8 8.7 3.3 Real GDP Growth (%) Demand Growth (%) 8.8 4.2 1.5 0.1 1.4 (0.8) 02 03 04 05 06 07 08 09 10 Real GDP VS Electricity Demand Growth of Singapore (% change) 14.5 8.5 GWh 40,000 35,000 30,000 25,000 Source: Singapore Department of Statistics 34,995 36,287 37,838 37,464 33,635 31,446 32,199 29,960 0 01/02 02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11 Electricity Transmitted and Distributed (GWh) 41,304 39,259 43 Singapore Power Annual Report 2010 Operations Review SP SERVICES MANAGEMENT Mrs Jeanne Cheng Managing Director Mr Lawrence Lee Director (Operations) Ms Shirley Tan Lee Cheng Director (Customer Relationship Management) Ms Lee Chui Ping Director (Finance & Accounts) 44 Singapore Power Annual Report 2010 Operations Review SP SERVICES A Convenient One-stop Customer Service for All Utility Needs SP Services provides every household and business in Singapore with a convenient and efficient one-stop service for electricity, water and piped gas supplies. Harnessing the power of technology and innovation to deliver efficient and responsive service, SP Services won the Most Innovative Use of Technology in a Contact Centre award. 45 Singapore Power Annual Report 2010 Operations Review As the Market Support Services Licensee in the deregulated electricity market in Singapore, SP Services provides meter reading, data management and billing services to the electricity market. It also processes consumer registrations and transfers for electricity retailers, thus playing a key role in facilitating competition and consumer choice in the retail market by enabling consumers to switch seamlessly between retailers, and to buy electricity at wholesale market prices. For the convenience of customers, SP Services also provides metering, billing, payment collection, and customer service on behalf of other utility service providers, including PUB for water charges, CityGas for gas charges, and various refuse collection companies for refuse removal fees. During the year under review, SP Services continued to improve its services and operations, while leveraging technology and innovation to enhance productivity. This enabled SP Services to cater to the evolving needs of customers, as well as their rising expectations. New Technology and Innovation By harnessing the power of new technology and innovation, SP Services reaped the multiple benefits of higher work efficiencies and greater convenience for its customers. During the year in review, SP Services completed the enhancement of its Wireless Workforce Management System (WWMS) which enables technicians and meter readers to receive their daily job orders through their Personal Digital Assistants (PDAs). Upon completion of rigorous system integration and user acceptance tests, the enhanced WWMS went live in October 2010. The wireless system minimises commuting time and enhanced punctuality in meeting customers. With real-time information and processing, appointment waiting time was reduced by one-third. Last-minute urgent appointments could also be accommodated. The agility of the system in matching technicians to jobs based on skill sets, proximity, zoning location and the availability of manpower also resulted in faster turnaround time, job scheduling and activity reporting, thus improving customer service and productivity. With the ability to upload and download real-time data through the mobile devices any time and anywhere, the technicians out in the field can now proceed to site directly from home without first reporting to the office in the morning, hence cutting down commuting time. This Work- From-Home Scheme which was introduced in 2010 has been extended to 47% of the field staff. Likewise, customer service officers can now attend to customers’ calls and emails from their homes, assessing the same IT systems to attend to enquiries from the customers, as well as to process transactions for customer service accounts remotely. Through the Work-From-Home Scheme, SP Services extended its customer service operation beyond standard office hours, thus improving accessibility of its services to customers. The enhanced work processes also enabled SP Services to reap the multiple benefits of higher productivity, improved customer service and increased employee satisfaction, while reducing its carbon footprint by cutting down commuting time. Delivering Service Excellence The year in review also saw the introduction of an e-billing email alert service by SP Services. Customers who register for an online account can now receive a summary of their utilities charges monthly through the email as soon as their bills are ready for viewing. With a click, they can log on to their online account to view bill details and make payment. With e-billing, customers can access their current and past utility bills anywhere, any time, and at the same time opt to discontinue receiving paper bills. SP Services also expanded its offering of SMS service initiatives by introducing free SMS reminder alerts to its customers. Customers will automatically receive an SMS reminder one day before the appointment date for the turning on or cutting off of supplies. The use of SMS communications have been extended to other services including meter reading submission, payment reminders, confirmation of account opening and closing. These new services have been well received by customers who appreciate the timely reminders. 46 Singapore Power Annual Report 2010 Operations Review Higher Customer Satisfaction SP Services’ passionate efforts to provide exceptional customer service were well appreciated. In its Annual Customer Satisfaction Survey, customer satisfaction ratings increased by 3 percentage points to 86% compared to that in 2008. Customers continued to rank SP Services as the best among major service providers in Singapore. SP Services’ commitment in delivering service excellence is also reaffirmed in the results of the benchmarking study conducted by leading international utility consultancy KEMA International during the year. SP Services has the lowest cost-to-serve per customer compared to major utility companies overseas while the service levels enjoyed by its customers were rated among the best. The study classified SP Services’ performance level as international best practice. The survey findings also showed significant improvement in the rating of SP Services’ efficiency compared to an earlier study by KEMA in 2007. The year in review also saw SP Services successfully pass its ISO (International Organisation for Standardisation) yearly Surveillance Audit. The Audit findings revealed a high level of competency shown in various areas of work achieved through comprehensive training. SP Services was commended for its well-established quality control and effective processes. The company’s commitment towards service excellence was recognised at the 2010 International Contact Centre Awards organised by the Contact Centre Association of Singapore. SP Services clinched the Gold award in the Most Innovative Use of Technology in a Contact Centre category, having impressed the judges with its Work-From- Home-Scheme which leverages technology to drive greater efficiency and effectiveness in call centre operations, as well as in the Best Contact Centre Manager of the Year (above 100 seats) category. Major Projects SP Services’ efforts in upgrading its Market Support Services Licensee (MSSL) IT System with the aim of expanding current system capabilities to enhance customer service and operational effectiveness has progressed well, and is on schedule to go live in 2012. The upgraded system The enhanced Wireless Workforce Management System enables seamless communications between back office and field staff and improves customer service. will be able to support the growing contestable customer base and drive new efficiency through integration in the use of a common software platform. In support of market liberalisation, SP Services participated actively in the Intelligent Energy System (IES) pilot project launched by the Energy Market Authority (EMA). The pilot project was aimed at testing and evaluating new applications and technologies around a smart grid, to enable the roll-out of more innovative solutions for Singapore’s power system. During the year, SP Services, together with SP Global Solutions, provided consultancy and training services to utility companies in the region, including China and India. In the year ahead, SP Services will continue to provide advisory services to companies looking to improve their customer service management expertise. Moving Forward Going forward, SP Services will continue to explore ways to further improve its customer service and operational efficiency, while managing rising business costs. Leveraging new technology and developing the full potential of its people to complement innovations in systems and processes will be the key thrusts for SP Services in the years ahead. 47 Singapore Power Annual Report 2010 Operations Review SP TRAINING AND CONSULTANCY COMPANY Crossing Borders SP Training and Consultancy Company (SPTCC) focuses on providing training and consultancy services for the utility sector. SPTI instructor conducting Workforce Skills Qualification training. 48 Singapore Power Annual Report 2010 Operations Review Singapore Power has consolidated its training arm, SP Training Institute (SPTI), and its consultancy arm, SP Global Solutions (SPGS), into a newly established business unit, SPTCC. SPTCC commenced operation in November 2010 to leverage the Group’s core expertise in the ownership and management of electricity and gas transmission and distribution networks, and operational excellence in the utility industry. SPTI will continue to position itself as a training centre of excellence in the utility sector with priority towards ensuring that all SP’s technical and operational training needs are well catered for. Within SPTCC, SPGS will serve to grow its consultancy business and extend its footprint in overseas markets. SPTI In April 2010, SPTI was accredited as an Approved Training Organisation (ATO) by the Singapore Workforce Development Agency (WDA). SPTI has been tasked to develop and conduct a number of courses under the Workforce Skills Qualification (WSQ) framework for the energy utilities industry. SPTI’s priority in the coming year is to provide top-notch technical and operations training to meet SP’s needs. SPGS The year in review was an eventful year of strong and robust growth for SPGS, supported by its international contracts. For the year ended 31 March 2010, SPGS’ revenue increased 22% year-on-year to S$6.8 million. Key consultancy projects that were successfully completed during the year include: SPTCC conducting training for City Power Johannesburg, South Africa. • Technical assessment consultancy for Al Ain Distribution Company in the UAE; • Consultancy and training contract with City Power of Johannesburg on “Protection & Security/Surveillance Systems via Telecoms”. Going forward, SPGS will leverage its existing projects, client base and partner relationships to strengthen and extend its presence in key markets such as China, India and South Africa. New markets such as the Middle East and Eastern Europe will provide avenues to grow SPGS’ business in the next few years. • Network management training for 21 power supply bureaus from Guangdong Power Grid (GPG); • Condition monitoring consultancy for the 2010 Shanghai World Expo and the 2010 Guangzhou Asian Games; 49 Singapore Power Annual Report 2010 Operations Review SINGAPORE DISTRICT COOLING Achieving Record Growth Driven by robust growth in demand, FY 10/11 was an exciting year for Singapore District Cooling (SDC). SDC registered a record revenue of S$50.8 million and net profit of S$9.4 million. With the completion of major system expansion projects, its total assets grew by 13% to S$203 million. Marina Bay Sands: SDC’s key customer benefitted from district cooling services. 50 Singapore Power Annual Report 2010 Operations Review FY 10/11 began with strong numbers for SDC’s cooling energy offtake as the Marina Bay Sands (MBS) Integrated Resort commenced its commercial operations. Phase 1 of the Marina Bay Financial Centre (MBFC) also started receiving chilled water supplies from April 2010. The aggregate cooling energy offtake for the year was 434GW r h, compared to 92GW r h for the previous year. The completion of MBS and MBFC contributed to the attainment of a critical mass of cooling demand for efficient operation of the new utility system. This has led to a major lift in production efficiency. Consequently, the energy usage of 0.23kW e h per kW r h of cooling output for the year was 8% lower than the previous year’s usage of 0.25kW e h per kW r h, and 18% lower than the regulatory benchmark of 0.28kW e h per kW r h. SDC recorded another year of service excellence in FY 10/11. The supply availability index, which reflects the ability to maintain the temperature of chilled water supply within specifications, was 100% for the year. In addition, SDC scored an average of 8.7 out of 10 in a customer satisfaction survey of its key customers, which was conducted in March 2011. In 2008, SDC successfully brought on board MBS to procure its hot water requirement from SDC, although the supply of hot water is not a mandated service. The advantage is that SDC can use the waste heat from its chillers to produce hot water at marginal costs. The recycling of waste heat contributes to environmental sustainability. The hot water supply scheme has been successfully commissioned, and commenced in April 2010. System Development The year in review also saw SDC successfully complete the Stage 2 Capital Projects, at S$128 million. The projects included the 40MW r capacity expansion for Plant 1 at One Raffles Quay, the new Plant 2 (DCP2) at MBS with a 60MW r capacity, the piping network in the Common Services Tunnel and a new control system for the coordinated operation of the enlarged system. New Supply Offtake In FY 10/11, five new supply points were commissioned for the mandated area. The new premises that are being served are the MBS- Theatre, the MBS-Museum, MBFC-Tower 2, the Marina Bay City Gallery and Bayfront MRT Station. To leverage its existing production facilities and operational capabilities, SDC managed to secure two new customers outside its mandated zone, namely Ocean Financial Centre and Gardens by the Bay. Protecting the Environment Being a new urban utility system that increases the energy efficiency associated with air conditioning for a business district on a macro scale, district cooling significantly reduces the associated carbon dioxide emissions. For its achievement in energy efficiency, SDC was awarded the International District Energy Climate Awards 2011 Certificate of Merit for Superior Achievement in May 2011. The Awards were judged by a panel of experts led by the International Energy Agency. Going Forward Demand for cooling energy will continue its robust growth in FY 11/12, with the progressive occupancy of MBFC Phase 1, the Ocean Financial Centre, Asia Square and Gardens by the Bay. The aggregate contract capacity from customers is projected to grow from 120MW r in April 2011 to 145MW r by March 2012. To meet the rising demand for cooling, a new capital project for a 30MW r increase in production capacity at DCP2 has been planned for completion in mid-2012. SDC will continue its marketing efforts to secure the connection of non-mandated premises in the vicinity of Marina Bay to its district cooling system. SDC is currently in discussions with the relevant government agencies about implementing district cooling systems in other new development areas. 51 Singapore Power Annual Report 2010 52 Singapore Power Annual Report 2010 Operations Review Australia Operations Our Australia Operations have four main business units – SP AusNet, SPI Management Services, SPI (Australia) Assets and Jemena Asset Management Co. Their business activities span the States of Victoria, Queensland, New South Wales and Western Australia. 53 Singapore Power Annual Report 2010 Operations Review SP AUSNET MANAGEMENT Mr Nino Ficca Managing Director Mr Geoff Nicholson Chief Financial Officer, and General Manager (Finance and Strategy) Mr Charles Popple Group General Manager (Networks Strategy and Development) Mr Norm Drew Group General Manager (Integrated Network Services) Mr John Kelso General Manager (Select Solutions) Mr Ash Peck General Manager (Information and Communication Technology) Ms Susan Taylor General Counsel and Company Secretary Ms Claire Hamilton General Manager (Risk and Assurance) Ms Geraldine Leslie General Manager (People and Safety) 54 Singapore Power Annual Report 2010 Operations Review SP AUSNET Upholding Strength & Reliability SP AusNet is the largest diversified energy infrastructure business in Victoria, owning and operating a state-wide electricity transmission network, an electricity distribution network in eastern Victoria and a gas distribution network in western Victoria, serving more than one million consumers. SP AusNet’s electricity distribution network carries electricity from zone substations to customers in outer eastern metropolitan Melbourne and eastern Victoria. 55 Singapore Power Annual Report 2010 Operations Review ELECTRICITY TRANSMISSION Overview SP AusNet’s electricity transmission network spans the whole of Victoria, with more than 6,500km of transmission lines that transport electricity from power stations to electricity distributors and large customers. The network is centrally located among Australia’s five eastern states that form the National Energy Market, providing key connections between South Australia, New South Wales and Tasmania’s electricity transmission networks. In FY 10/11, the electricity transmission network contributed A$540.6 million in revenue to SP AusNet’s financial performance. SP AusNet invested A$164.6 million to improve network performance on the transmission system during the year. Performance and Reliability Electricity transmission network availability was 99.15% in the 2010 calendar year, favourable to the target of 98.73% that was set by the Australia Energy Regulator (AER) for the regulatory period from 2008 to 2013. The transmission system minutes off supply measure of 0.19 was favourable against the target of 1.15. Upgrades and Extensions Major upgrades to the transmission system in the past year aimed to improve its reliability, capacity and performance to meet increasing energy demands. The Thomastown terminal station rebuild is forecast to be completed in 2011 and the upgrades to the Brooklyn, Ringwood, Dederang, Keilor, Horsham and Morwell terminal stations are in progress. SP AusNet has commenced planning activities to build two new terminal stations, in Tarrone and Wemen, and to augment the Brunswick terminal station. It was awarded the tender to build the Tarrone terminal station, between Warrnambool and Portland. Works to connect the Mortlake Power Station have been completed, ready for the power station to commence generation. SP AusNet expanded the capacity of its Keilor and Geelong terminal stations by installing new transformers to cope with the extra load in these key growth corridors. Electricity Distribution SP AusNet’s electricity distribution network carries electricity from zone substations to connected electricity consumers in outer eastern metropolitan Melbourne and eastern Victoria. The network is approximately 48,000km in length, spanning an area of about 80,000sq km and servicing more than 630,000 consumers. The electricity distribution network is situated in two of the largest growth corridors in Australia and is constantly expanding to meet the needs of the consumers. In 2011, almost 12,000 new consumer connections were added to the distribution network, with energy delivered growing by 1.3% over the year. In FY 10/11, the electricity distribution network contributed A$609.1 million in revenue to SP AusNet’s financial performance, and distributed 7,881GWh of electricity. SP AusNet invested A$391.1 million in capital expenditure to extend the distribution network and improve its performance. For the 2010 calendar year 1 , the distribution network’s reliability performance was 178.8 minutes USAIDI 2 . This is an improvement against the previous year. SP AusNet is continuing to invest in initiatives that will make the network more resilient to extreme weather events and deliver reliability improvements. These initiatives include the further deployment of distribution feeder automation (DFA), and the review of physical aspects of key feeders to make them more robust. 1 Performance is measured over the calendar year to align with regulatory arrangements. 2 USAIDI is the total number of minutes a customer experiences loss of supply due to unplanned interruptions, on average, in a year. 56 Singapore Power Annual Report 2010 Operations Review Growth and Upgrades Situated in key growth corridors of Victoria, the electricity distribution network has undergone significant upgrades and improvement works to meet increased demand and improve reliability of supply. A new zone substation has been established at Lysterfield in one of Melbourne’s largest growth corridors. The substation entered service in advance of the summer peak loading period. It alleviates the growing demand on other zone substations serving the region. The electricity distribution netw

Media Release Singapore Power Enhances Feedback Channels With Mobile Application Sending feedback on electricity and gas matters is now easier and more convenient with a new mobile application by Singapore Power (SP).   Available for download on both iOS and Android platforms, the app allows the public to provide service feedback or report on electricity and gas supply matters. Customers can also use the app to send feedback on SP worksites such as roadworks, noise or safety concerns, and equipment like overground boxes and substations. In addition, the app enables the public to attach pictures and tag location specific information to the feedback. (see Annex A for screenshots of the app).   This app leverages Singapore’s high smartphone penetration rate and excellent cellular infrastructure, to provide SP customers with another fast, easy and convenient way to connect with SP in real time.   "Timely feedback from our stakeholders is crucial to our operations. This new app underscores our commitment to service excellence and to deliver quality, reliable and secure electricity and gas supply to the nation,” said Mr Peter Leong, Managing Director of SP PowerGrid.   For feedback warranting a direct service response, customers should call the following numbers: 1800–778 8888 for electricity supply disruptions; or 1800–752 1800 for gas supply disruptions or suspected gas leaks.   For more information on the SP public feedback application, please visit the Singapore Power website or get on the App store (iPhone users) or Play Store (Android users) and search for “SP PowerGrid”   Issued by: Singapore Power Limited 10 Pasir Panjang Road #03-01 Mapletree Business City Singapore 117438 Co. Reg No : 199406577N www.singaporepower.com.sg About Singapore Power Singapore Power Group (SP) is a leading energy utility group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia. More than 1.4 million industrial, commercial and residential customers in Singapore benefit from SP’s world-class transmission, distribution and market support services. The networks in Singapore are amongst the most reliable and cost-effective worldwide. Annex A

Media Release Singapore Power Centre Of Excellence Commences Collaboration With 5 Industry Partners Projects will draw on S$30 million programme set up by SP and EDB Singapore, 12 August 2016 – Singapore Power Centre of Excellence (SP CoE), an initiative supported by the Economic Development Board (EDB), commenced collaborations with 5 industry players to drive research and development of next-generation energy network technologies. The collaborations are part of the Singapore Power Energy Advanced Research and Development (SPEAR) programme, which is the CoE’s flagship programme. 1. The partnerships will draw approximately S$10 million – one-third of the overall S$30 million programme, which was launched in April 2015 to promote the development, pilot and integration of cutting-edge solutions and technologies in Singapore’s energy infrastructure network. 2. The projects and partnerships are as follows:  Grid Sensing with 3M Substation Digitalisation with GE’s Grid Solutions business Smart Energy Management Platform with IJENKO Energy Network Health Analytics with NEC and Space-Time Insight Big Data Analytics with OMNETRIC Group 3. Mr Brandon Chia, Head, SP CoE, said, "SP CoE is committed to driving research and innovation that translates into a future-ready national grid. This marks a significant milestone for the CoE as we begin our first partnerships with industry players to collaborate on developing and implementing next-generation solutions and technologies that will build up the resilience and reliability of our network. This brings us closer to providing sustainable solutions in meeting the evolving customer needs of the future." 4. Mr Goh Chee Kiong, Executive Director, Cleantech, Singapore Economic Development Board, said, “Through the Singapore Power CoE and its flagship SPEAR programme, Singapore is well positioned to become a reference model for smarter grids through the piloting of next-generation technologies to enhance Singapore’s core grid network, integrate renewables and improve demand-side consumer applications. The Singapore Power living lab platform will also catalyse demand-led innovation, and anchor new investments and capabilities from the energy industry.” 5. When completed by 2021, the projects are expected to strengthen the resilience, reliability and efficiency of Singapore’s energy network, supporting SP’s objective in building a future-ready network to enhance the economy and the quality of life. Projects such as Grid 2 Sensing and Energy Network Health Analytics will provide cutting-edge monitoring systems, predictive alerts and risk assessment analysis in accurate, real-time alerts. These will allow SP to further enhance our electricity supply reliability and reduce electrical disruptions to customers by anticipating and solving network incidents before they occur. 6. While strengthening the capabilities of our grid currently, the Substation Digitalisation project will deliver sustainable benefits. When implemented, this will relieve network constraints by accelerating renewable connections, providing customers with a greater choice in distributed energy sources (i.e. renewable energy) when connected to the network. 7. The Smart Energy Management Platform and Big Data Analytics projects will pilot applications that enable SP to analyse data to gain customer insights thus enhancing our understanding of end-user behaviour, in order to develop solutions that will help SP better engage our customers during service provision and help them better manage their energy consumption. More information about the various projects can be found in Annex A. For more enquires on SP CoE and its projects, please contact COE@singaporepower.com.sg.   About Singapore Power Singapore Power Group (SP) is a leading energy utility group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia, and district cooling businesses in Singapore and China. More than 1.4 million industrial, commercial and residential customers in Singapore benefit from SP’s world-class transmission, distribution and market support services. The networks in Singapore are amongst the most reliable and cost-effective worldwide. For more information, please visit www.singaporepower.com.sg. About SP Centre of Excellence The SP Centre of Excellence (CoE) is an initiative by Singapore Power (SP) to drive the innovation and commercialisation of next-generation energy network technologies for greater reliability and efficiency of Singapore’s energy network infrastructure. Supported by the Singapore Economic Development Board, the CoE aims to establish SP as a thought leader in the utility industry forefront and build future-ready energy networks and resource capabilities, to stay ahead of global trends such as the drive for smarter and greener performance, to sustainably meet the evolving customer needs of the future. Issued by: Singapore Power Limited 10 Pasir Panjang Road #03-01 Mapletree Business City Singapore 117438 Co. Reg No : 199406577N www.singaporepower.com.sg ANNEX A SP CoE, SPEAR Projects 1. Grid Sensing with 3M  This project provides the technologies and capabilities to better monitor, understand and control the low-voltage distribution network. This will facilitate our customers’ ability to “plug and play” distributed energy sources in the future to maximise the usage of sustainable but intermittent sources, such as solar and wind. Through the implementation of Grid Sensing, we can improve access to sustainable but intermittent energy sources. 2. Substation Digitalisation with GE Grid Solutions This project will bring us closer to achieving a full digitalisation of the Singapore electricity network by creating a single platform that integrates our existing technology and new intelligent electronic devices. This allows different devices to interoperate and communicate with each other to maximise efficiency of routing energy resources. When implemented, this will relieve network constraints by accelerating renewable connections, providing customers with a greater choice in distributed energy sources (i.e. renewable energy) when connected to the network. 3. Smart Energy Management with IJENKO This project will provide a platform to better understand our customers’ usage of electricity, paving the way to provide greater value to our customers. For example, through this technology, we can obtain information to provide our customers with practical advice in real time to help them increase energy efficiency and to achieve cost savings. 4. Energy Network Health Analytics with NEC and Space-Time Insight The solution derived from this project will help us optimise asset deployment and maintenance. It will offer the capability to analyse and predict when we need to reinforce and maintain our assets before they fail, thereby minimising disruption and inconvenience to our customers. 5. Big Data Analytics with OMNETRIC Group This project offers analytical insight for operations by providing action alerts when sensing potential damage to our underground assets at worksites, thereby preventing voltage dips or supply interruption to our customers. Besides implementing for operations, this project works on analysis to help us understand our customers better, allowing us to tailor the most appropriate communication mode to engage our customers, leading to an enhanced customer experience.

21 March 2014 PRESS RELEASE SINGAPORE POWER ENHANCES FEEDBACK CHANNELS WITH MOBILE APPLICATION 1. Sending feedback on electricity and gas matters is now easier and more convenient with a new mobile application by Singapore Power (SP). 2. Available for download on both iOS and Android platforms, the app allows the public to provide service feedback or report on electricity and gas supply matters. Customers can also use the app to send feedback on SP worksites such as roadworks, noise or safety concerns, and equipment like overground boxes and substations. In addition, the app enables the public to attach pictures and tag location specific information to the feedback. (see Annex A for screenshots of the app) 3. This app leverages Singapore’s high smartphone penetration rate and excellent cellular infrastructure, to provide SP customers with another fast, easy and convenient way to connect with SP in real time. 4. "Timely feedback from our stakeholders is crucial to our operations. This new app underscores our commitment to service excellence and to deliver quality, reliable and secure electricity and gas supply to the nation,” said Mr Peter Leong, Managing Director of SP PowerGrid. 5. For feedback warranting a direct service response, customers should call the following numbers: a. 1800–778 8888 for electricity supply disruptions; or b. 1800–752 1800 for gas supply disruptions or suspected gas leaks. 6. For more information on the SP public feedback application, please visit the Singapore Power website or get on the App store (iPhone users) or Play Store (Android users) and search for “SP PowerGrid” – END – 1 Issued by: Singapore Power Limited 10 Pasir Panjang Road #03-01 Mapletree Business City Singapore 117438 Co. Reg No: 199406577N www.singaporepower.com.sg About Singapore Power Singapore Power Group (SP) is a leading energy utility group in the Asia Pacific. It owns and operates electricity and gas transmission and distribution businesses in Singapore and Australia. More than 1.4 million industrial, commercial and residential customers in Singapore benefit from SP’s world-class transmission, distribution and market support services. The networks in Singapore are amongst the most reliable and cost-effective worldwide. 2 Annex A 3 4