Mr. Dermot Nolan:

I will answer the first question and my colleague will deal with the remainder. The privatisation issue is delicate and it is a policy issue. If Bord Gáis Energy were privatised, we would treat it in exactly the same way. At present we set a regulated price and it is likely in the near future, as with electricity, the market will be deemed sufficiently competitive that we will not set direct controls over it. As to whether a private or public company would behave differently, it is a difficult question for me to answer and I will not express a specific opinion if that is all right. We will treat it in exactly the same way regardless. Last year, I told the committee that in my view there is a very strong case for keeping essential networks such as the wires and gas pipes in State control. The issue of whether a company which generates and sells energy but is not a natural monopoly should be publicly or privately owned is a matter for the Government and the Oireachtas. It is a policy issue.