Dr. Paul McGowan:

I would like to conclude on two points. I wish to pick up on what Mr. Blaney said about Brexit. It is fair to say that I-SEM and the maintenance of I-SEM is high up the political agenda on the part of the UK Government and on the part of the Irish Government.

Reference was made to the OECD review. There is a network of economic regulators under which that review is being carried out. Basically, they got a tried and tested model. In fairness to the OECD, the model has been developed along the lines of how the International Energy Agency might carry out a country review. It is very much a peer review. Next week, those involved are bringing people from Mexico, Italy and Great Britain over. These are people who have extensive experience of being reviewed and running regulatory agencies. We have found this to be a useful exercise in terms of casting a light not on the decisions we make but on the means by which we are governed and by which we run our regulatory process. One point that is particularly relevant to today's interaction is how we are accountable to the Oireachtas. This is very much a conversation that the CER, as an organisation, is happy to continue with the committee in future.