Mr. Jerry Grant:

We are happy to deal with that. The practice associated with the current model has been traditional, probably because capital became available relatively regularly to design schemes covering a very long period. It was difficult to get hold of it. A 20 year design–build–operate model is being used because the general practice was to design a plant that would operate for a long period on the basis that one might not get a chance to invest again. That does not necessarily result in the best value for money, nor does it necessarily result in the lowest operating costs in the system. As has been explained by the CER, we have a long-term view that maps out a growth and developmental scenario. Thus, we have plans in place. We are continuing with our long-term planning so we will be aware of how we will meet demand in five, ten or 15 years. We are ensuring we are investing across the board in those plants and assets in which it is necessary to invest to secure customer service over the next five or six years. That model does not require one to plan now for 20 years' time because one knows one can return to the matter again in the event that demand will necessitate it in five, six or seven years. Obviously, all these projects are subject to a statutory process and planning, but the important point is to get the best result for the customer at the lowest price. The objective is to do so consistently across the customer base rather than one having to depend on one's being lucky enough to be in an area with a large scheme that might have been put into effect in the past three years.