27/05/2011: 'Hugely significant' year for Electricity North West
Electricity North West has announced a successful year as it released its Annual Report and Financial Statement today.
The company’s plans to invest £1.4bn in the North West’s electricity network between 2010 and 2015 are on target as it continues to be a major player in the region’s economy.
Having completed the purchase of United Utilities Electricity Services (UUES) in June 2010, it is now the sole company, owning, operating and maintaining the North West’s electricity distribution network. Operating profit for the business is up 34 per cent, from £155.9m to £210.4m.
Chairman, Phil White, who joined the company in May 2010, said: “2010/11 has been a hugely significant year for Electricity North West. The energy sector will go through significant change as it responds to the challenge of a low carbon economy, issues relating to security of supply, and the imperative to deliver efficiently to customers.
"As a business which constantly demonstrates innovation, drive and total professionalism, I am confident that Electricity North West is well placed to meet these challenges and to exceed the expectations of our stakeholders.”
Chief Executive, Steve Johnson added: “The society in which we live is growing ever more dependent on electricity. It provides the power for both the basics we rely on and the luxuries that make our lives easier.
“I am pleased to report that our key measures of quality of supply have improved year on year and are out-performing our regulatory targets. We are also committed to being as innovative as possible and we strive to push the boundaries to find simpler and more effective solutions to problems.”
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