Mr. Kevin Hagan:

As to the CRU's role in administering the market revenue cap, this legislation will require generators and other market entities covered by the cap to submit self-declarations to us. These should lay out their market revenue, the capped revenue they will get to keep under the market revenue cap and their gains and losses from hedging operations, which will feed into the final amount owed under the cap. Once we get all of those self-declarations, which should be by the end of July, we will cross-check with SEMO EirGrid market data to see if they are accurate and comprehensive. We will also have expert consultancy support to help us review the self-declarations to see if hedging operations meet the conditions in the legislation and if the gains and losses are applicable. We also have the ability to ask for further information where there is uncertainty or if we do not believe operators have provided all information.