Mr. Paul Allen:

When we are thinking about the cost of fossil fuel prices, it is also useful to bear in mind the IMF's working paper from 2015 on the hidden costs of fossil fuels. If one looks at the costs in terms of subsidies, plus the medical costs from dealing with emissions and related lung diseases, as well as future adaptation costs, the IMF estimated it was $5.3 trillion in addition to what we were currently paying for 2015 alone.

We did the figures for power to gas for the middle of the winter. It is challenging. That is why we need the big power to gas plants and gas storage. One of the advantages of needing that is that it creates a market for the peak electricity throughout the year. One is taking peak electricity and making it into storable gas, which means one has a market, even though it takes four units of energy initially to give one unit of energy back when one needs it. Dealing with peaks in a large renewable grid is a problem. One is creating a market for that. One is also creating opportunities for a large gas infrastructure in terms of investment and jobs.

There is potential for exploring more high-voltage DC connectors across the EU. If we can do it on a stand-alone basis, we can do it on a shared high-voltage DC basis.