Mr. Dermot Nolan:

No, it is 3% per year. Let us optimistically say one's bill is €100 per year. If nothing else changed for the next 50 years, one would pay €103 per year for the next 50 years. That is our best estimate but there are some caveats. In terms of the expert opinion we have seen, this is on the lower end of the range. There have been some estimates that it could be higher than that. The independent report is our main source and it suggested that one in three was the minimum level. There are two possible issues relating to that. Although this has not been worked out to the same quantitative extent, it is likely that operating costs of an underground cable may be somewhat higher than an overground cable. I have spoken about capital expenditure. In terms of maintaining that cable, we have reason to believe from what we have seen that the operating costs would be likely to be higher. I am not trying to give a definitive view. There are also potential quality issues. I am going to be very careful about this. It is not so much that there would be more faults with an underground cable, there probably would not be, but faults in an underground cable of that magnitude might be more difficult and take longer to fix and could therefore present as some kind of security of supply risk. I am not trying to pass the buck, but this is a debate for society and the Oireachtas to deal with, and I am trying to present the facts.