Mr. Fintan Slye:

Yes. The Deputy also inquired about growth forecasts. When Grid25 was developed and published, the economy was in very different shape than is currently the case. As I articulated earlier, we always use the most up-to-date growth forecasts available and we continually examine individual projects to reassess their needs, the technology involved and anything else that is changing. I also mentioned the fact that these forecasts are published.

Deputy Heydon also inquired about importing and exporting power on the east-west interconnector, which has been running since earlier in the year. The majority of the time it imports energy from the UK into Ireland. That is price driven and, as a result, it is driving down prices here. We carried out an analysis in respect of its first two months of full operation which indicated that it was leading to reductions of the order of 7% in the wholesale price. When it is relatively windy here and if there is an excess of wind energy or if the wholesale price of energy here drops, the flow reverses. This is particularly the case overnight when demand here is lower. That is how the east-west interconnector operates at present.

The Deputy's final question related to Grid Link and to a number of possible further interconnection projects that are currently being explored. He referred to the ENTSO-E ten-year network development plan in this regard. We are actively looking at the possibility of establishing a new interconnector to France from either Waterford or Cork. We carried out initial feasibility analysis on this matter approximately two years ago and this indicated that such a interconnector would deliver benefits to consumers on the island of Ireland as a whole and, potentially, to consumers in France. We have since taken that analysis to the next level of detail and are working with our colleagues at RTE - not to be confused with the national broadcaster here - the system operator in France. We are seeking to further develop the detailed desk-top analysis of what an engineering solution for an interconnector to France would look like, what would be the costs involved and what would be the benefits to users in both countries. We want to see if it stacks up as a project and the current indications are that it does. Any developments in respect of this matter will feed in to our consideration of other projects, as has been the case to date.