CORPORATE GOVERNANCE
CEB’s operations comply with Mauritius’s Code of Corporate Governance
In compliance with the Code of Corporate Governance for Mauritius, this section delineates, among other topics, the corporate governance structures in place at the CEB. It describes the organisation of the Board's business. It also sets out the systems and processes established for maintaining and monitoring internal controls, as well as, identifying and managing risks. Moreover, it outlines the efforts made for enhancing Corporate Social Responsibility and communication with stakeholders.
CEB’s Corporate Governance committees
The year 2013 was a particularly challenging one for the CEB due to the numerous and diverse issues which had to be dealt with. The existing systems, structures and governance processes had to stand up at this juncture and take on these challenges in a coherent and effective manner. Fifty-six meetings of the Board of Directors and Sub-Committees were held during the review period and numerous matters were discussed and resolved. A number of joint task teams, such as the Enlarged Committee, the Environment Committee and the Investment & Strategic Committee, were also established to assist with the resolution of specific issues.
The steps taken by CEB with regard to CSR
One of the main tasks of the Board in 2013 was planning for additional generating capacities to meet the ever-increasing demand. In this respect, the Board approved the redevelopment of the Saint Louis Power Station. This system would cater to the commissioning of 4x15 MW new medium-speed diesel engines in the short term. The execution of the updated Power Purchase Agreement with Mauritius CT Power Ltd. in relation to the setting up of a 100 MW coal plant at Pointe aux Caves was also sanctioned. At the same time, the strategy to increase our renewable energy usage was maintained through the approval of a number of medium ranging from large solar photovoltaic projects to private promoters. The conduct of a prefeasibility study for the use of Liquefied Natural Gas (LNG), which is another interesting alternative for cleaner electricity generation in Mauritius, was also approved. On another front, the Board appointed Consultant B.C. Appanah to carry out a comprehensive review of the salary and conditions of service of CEB employees and submit a report accordingly. The aim is to maintain the CEB as an employer of choice and to step up the motivational level of employees at large. This ensures that obligations related to CSR are fulfilled.