Mr. Dermot Nolan:

I will do my best. I will first discuss the general issue of prices, then the specific example of Bord Gáis. On the former, we regret the significant increase in prices. I would most emphasise the fact that, in terms of gas and electricity, the fundamental determinant for end user prices is the price of fossil fuels, which are determined internationally and over which Ireland has no control. This is regrettable, but it is the way it is.

Nearly all of our retail gas is bought from Great Britain and comes from the North Sea. Wholesale gas prices rose considerably during the two-year period in question.