Mr. Jim Dollard:

The key point from our perspective is that any reduction we would have delivered in those slots we have passed through. We have definitely passed it through. There is no intention to build margin on the back of falling fuel prices. We have not done that. Where those slots have been priced at a lower rate we have factored that in and we have delivered that in the tariff. There are different numbers about what the rate is and what is the reduction. It is difficult for us to combat that because it is coming from different perspectives. The CER, independently of us, has said the reduction in gas prices last year was of the order of 18%. I would say - it is relevant to the comment I have just made - much of that happened in the second half of the year and it affected the following year as well. I would stand over the principle that we have passed through everything that we can on what we have bought. If the wholesale prices continue to fall we will continue to pass them through. We will buy power at a cheaper price for the future and we will pass that through in due course. Electric Ireland's view is that if the supply companies try to do anything different or get clever about this it will end badly, as has happened in other markets around us in Europe. Where the suppliers are starting to build margin in that situation it does not augur well, it is not a good position for supplier companies to take. The nature of the competition in this particular market will not allow it. In summary, in terms of the actual gas price reductions that we have achieved, we are passing them through as much as we can in so far as can, and that includes the full value of them.

Why do customers have to switch to get a reduction or a discount? I made some earlier comments about that. It is not the case that customers necessarily have to switch. The perception is that people have to switch.