Synergy 2013 annual report
“Our focus has now increasingly moved to our customers and the service we offer them. We have conducted a deep review of how we can improve as a truly customer-focused organisation and the results are showing in our customer measures, but we all agree there is still much to do…
While our customers appreciate service, we have a fundamental obligation to make our energy as affordable as possible. While most of the final cost of energy comes from fuel, generation and getting it delivered, our responsibility is to reduce our cost to serve…
Synergy has helped to create a competitive market as a large retailer that can commit to long-term contracts that enable new generation to enter the market. Buying long and in volume is also one of the means of buying at a better price to support both reliable and low-cost energy…
We have to buy long but the vast majority of what we sell is in the form of short-term contracts. This has been well managed in the past but our merger with Verve will make the business more robust as we will have the ability to manage fuel and generation in the one business model…
Of course this does end the era of Synergy as a stand-alone retailer. While we will still take a very active interest in buying energy competitively, we are moving to a new model. With this we will see the end of this board structure and I take this opportunity to thank all board members for their exceptional efforts and achievements.”
Michael Smith
Chairman, Synergy
Read the 2012-13 Annual Report (PDF 6MB)