Mr. Paul McGowan:

I will address the Deputy's question about the difficulties that arise by virtue of the fact that this is a new utility. We have experience in the regulation of existing utilities such as Bord Gáis Networks and ESB Networks. We have gone through the process of price control and cost review on numerous occasions. The additional complexity in this regard arises from the fact that this is a new utility. We are going about this by looking at international experience. In the first instance, it involves benchmarking, or looking at what happened when new utilities were established in other jurisdictions. We examine how much that cost and determine whether the costs being incurred here are reasonable in that context. In addition, we are in the process of establishing a network of fellow water regulators around Europe that have gone through similar experiences. We are keen to have dialogue with other regulators to learn from their experiences and share our own. There is additional complexity, but I am satisfied that it is not insurmountable. We will be able to come up with a view on which costs are being efficiently incurred and, therefore, capable of being passed on in charges.

I hope that addresses the Deputy's questions about the establishment of the new association and how we satisfy ourselves with regard to costs. Perhaps my colleague, Ms Mannion, might handle the Deputy's question about who determines whether the level of capital is sufficient. I think it relates to the plan submitted.