Ms Aoife MacEvilly:

We monitor the market. We produce in-depth annual retail market reviews. We look at a number of trends and factors around competition, including market share and active customers. We also look at annual customer surveys to see how customers are experiencing the market. There is a large amount of active ongoing monitoring of the market.

If we saw a problem, how would we step in? In 2017, one of the concerns we identified was that customers did not feel confident in making choices. Since then, we have been implementing a series of measures to improve the information and protections for customers and to empower customers more in making choices that are in their best interests. These are the kinds of step we take. We have powers under the licence to direct companies, so if we see an issue, we can direct them to do something or to stop doing it. We can step in. It depends on the circumstances, but if we identify a material issue, we have powers to address it.