Mr. Mark Foley:

I will also allude to what Dr. Ryan spoke about. I will make two very positive comments. One is the Government's interconnection policy, which came out last summer and is an absolute North Star for Ireland. We now have a policy context in which to start really getting on the ground and considering projects. This is extremely helpful.

I had the pleasure of being in Brussels last week when the ENTSO-E group, in conjunction with the Commission, launched the first-ever offshore national development plan. This is the first time Europe has got together and collaborated on a singular vision for the offshore opportunity. It was a very big day for all of us, and Ireland was right in the middle of it, in terms of Europe recognising that despite our peripherality we have a role to play. We are on the map and we are in the game. The opportunities the Cathaoirleach spoke about can now be realised because we have a mechanism to work through. Whether it is projects of common interest or equity coming from Europe, we are included in the plan. I am extremely positive about the Government's initiative and what has happened in Europe.

With regard to the IEA, analysts are analysts. It took a very theoretical view and asked what would happen if every data centre had a contract and they all got connected in the next two years. I do not have an issue with the young gentleman who did the piece of work but it is not realistic. This is all we are saying.

EirGrid's record on predicting demand in the past ten years has been impeccable. We have been within plus or minus 0.5%. Our recent generation capacity statement sets out the demand protection for the decade. It is crystal clear what we think is going to happen and Ireland has nothing to fear from it if we put the building blocks in place. We will diplomatically work with the IEA on its slightly alarmist view but what it has said will never happen, no more than anything else out there will get built in record time. It is not something to be concerned about. Trust the GCS; the numbers are out there. The entire ecosystem tends to back it because it has proven to be right. Our electricity demand will grow by approximately 3.8% in the coming decade. This is something we as a nation, and we, as a transmission system operator, TSO, should be able to handle. It is good for Ireland and it is good for prosperity.