Dr. Paul McGowan:

While we do not have the figures for 2010 and 2011, we know from our analysis that at this stage of its evolution Irish Water is a high cost utility. We expected this because it inherited 34 water authorities. Our analysis indicates that it is up to twice the cost of an efficient utility. Through this and the following revenue controls, we will ensure Irish Water will deliver efficiencies to get the level of cost down to that of an efficient operation. We expect that reduction to be delivered in time. That is part of our role.