Mr. Michael McNicholas:

The Deputy asked two questions. The first was on the cost of borrowing and the second was when we will finalise the numbers in terms of the €13 billion. I will take the first part. The €5 billion is fixed and we have delivered the programme up to 2016 on target. The remainder of that stays because the metering programme was phase one, which we have completed. We have nothing in metering for phase two, so that will not change. The €13 billion is our best estimate based on the state of the assets we found. We will refine that every planning period. Will it go up? It is quite possible. We do not know but it is a fair estimate for the work we have done to date as to what we need. I will hand over to Mr. Marley who will talk about the cost of borrowings.