Mr. Owen Wilson:

On the question of targets, the electricity sector is not opposed to targets. However, we wish to ensure that Irish targets are incorporated within the European Union framework. As I explained previously in respect of the United Kingdom scenario, unless this is done, all we would be doing would be to have Irish customers support the rest of the European Union's economy. As for certainty, the electricity sector has absolute certainty in terms of targets because under the emissions trading system, ETS, the trajectory from where we are today to zero is specified in law with an annual reduction factor. Therefore, we know that by 2065 or thereabouts, we will be at zero and for each interim year between then and now, we know what will be the target. Consequently, absolute certainty already exists regarding emissions from the electricity sector. In addition, discussions are ongoing within Europe at present on what should be the 2030 targets. Again, it will be important that we incorporate within Irish law our role within the aforementioned 2030 targets. If one considers the current position, the target we have for 2020 is pretty extreme and effectively, it is for a reduction in emissions of 33%. In a purely hypothetical sense, if one tried to deliver that target for 2020 solely within our own resources and ignoring the flexibilities within the legislation at present, it effectively would mean taking one third of transport vehicles off the road, that is, cars, buses, trains and the lot, as well as not heating one third of homes. I reiterate it is really ambitious.

Delivering that will provide a roadmap for the rest of Europe. Given our current economic situation, I cannot see where going beyond that can lead us to in the period up to 2020. Obviously, beyond 2020 there will be a need for more targets and, as I say, they should be addressed within this European context. It allows the costs for delivery of the targets be optimised across the whole of the European Union rather than being landed on one member state or another.

With regard to issues pertaining to RES-E - that is, renewable electricity standard for Europe - perhaps, in the first instance, I will ask Mr. McNamara from Bord na Móna to answer.