Section 172(1) Statement

(c) Statement by the directors in performance of their statutory duties in accordance with s172(1) Companies Act 2006 (the “Act”)

The board of directors consider, individually and together, that they have acted in a way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole (having regard to the stakeholders and matters set out in s172(1) (a-f) of the Act) in the decisions taken during the year. In particular:

• The directors have approved a 5-year business plan which facilitates long term decision making regarding investment and development of the business. The plan enables both shareholders (who are also the customers of the Company) to meet their separate, long-term business strategies and achieve continued cost savings.
• The directors consider that the Company’s employees and suppliers are fundamental to the success of the business. The directors aim to be a responsible employer and customer and dedicate considerable focus to the Company’s approach to pay and benefits to its employees and supplier payment practices. Payment practice reports are produced internally on a monthly basis and reviewed to check progress against targets. The well-being, health and safety of the Company’s employees, suppliers and the wider public is one of the primary considerations in the way the company operates.
• The directors consider the impact of the Company’s operations on the wider community and the environment and pay attention to the environmental policies adopted by the Company’s energy suppliers.