Mr. Garrett Blaney:

I will try to answer this question on the legislation and the reason that we are not already doing what is asked for in the European legislation. I think to some extent we already are. I think there are many different areas of the package, where we think we are probably ahead of quite a few member states. I think, though there is a general value in us being part of a bigger market to the extent that we can tap into the much larger market across Europe, be it equipment or mechanisms that we can comply with, then there is an advantage for our country. We need to be careful about one-size-fits-all - and this goes back to the risk of overreach - in that it would impose inefficient solutions on us because these solutions happen to work for Germany or France. We need to continue to be cautious.

I will hand over to my fellow commissioner to talk about the issues, in particular about smart meters.