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GLOSSARY. Growth Capital Expenditure (CAPEX) Capital expenditure incurred by the company to create new assets and revenue.
CO2E Carbon dioxide equivalents (a measure of total greenhouse gases).
Load-weighted Average Price (LWAP) Load Weighted Average Price of electricity purchased from the wholesale electricity market.
Churn Rolling average of Mercury Brand customers that change energy providers.
MWh Megawatt hour. One megawatt hour is equal to one thousand kilowatt hours.
CPS Cents per share.
Net Debt Total borrowings (both current and non-current) less cash and cash equivalents.
Energy Margin Sales from electricity generation and sales to customers and derivatives, less energy costs, line charges, other direct costs of sales, and third-party metering. Free Cash Flow Net cash flow from operating activities less stay-in business capital expenditure. Generation-weighted Average Price (GWAP) Generation Weighted Average Price of electricity generated and sold to the wholesale electricity market.
Net Promoter Score (NPS) This is the difference between the percentage of Promoters (who rate their likelihood to recommend Mercury 9-10 on a scale of 0-10) and Detractors (who rate their likelihood to recommend Mercury 0-6 on a scale of 0-10). Results are reported on a 3-month rolling average. The result reported here is NPS within our target customer segments where we recorded a 2-point increase above target for FY20. In FY20 we changed our reporting to a new survey measuring NPS through a sample of approximately 2000 customers per month.
Stay-in-Business (SIB) Capital Expenditure (CAPEX) Capital expenditure incurred by the company to maintain its assets in good working order. Total Recordable Injury Frequency Rate (TRIFR) A record of the number of reported medical treatment, restricted work, lost time and serious harm injuries per 200,000 hours, including employees and on-site contractors. Total Shareholder Return (TSR) The financial gain or loss resulting from the change in share price plus any dividends paid expressed as a percentage of the initial share price. Underlying Earnings After Tax Profit for the year after removing one-off and/or infrequently occurring events (exceeding $10 million of profit before tax, which represents material items), impairments, any change in the fair value of derivative financial instruments and gain on sale, all net of tax expense.
Operating Costs Represents employee compensation and benefits, maintenance expenses and other expenses.
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EBITDAF (or Operating Earnings) Earnings before net interest expense, tax expense, depreciation, amortisation, change in the fair value of financial instruments, gain/(loss) on disposal and impairments.
GWh Gigawatt hour. One gigawatt hour is equal to one million kilowatt hours.
Other Income Earnings of associates and other revenue, less direct costs of other revenue.
MERCURY ANNUAL REPORT 2021
Brand Strength This measures a brand’s equity and perception in the market based on a monthly survey. It is a constructed score derived from 5 pillars that are weighted to reflect their impact on overall Brand Strength. It is reported on a 3-month rolling average and reflects Mercury’s Brand Strength amongst customers and non-customers.
THE TEAM BEHIND ENERGY FREEDOM
Mercury presents certain non-GAAP (Generally Accepted Accounting Practice) financial information throughout the annual report. This is provided where we believe it will provide greater clarity to users of the information. It also provides consistency across reporting periods and comparability amongst industry peers.
