Dr. Paul McGowan:

The utility model has changed radically in the past 20 years, from having a single utility model that was responsible for generating, transporting and supplying electricity. There is now an independent system operator whose role is to forecast the need for energy rather than build energy demand, and to design a system to deliver that. Our role is to try to design a market that will ensure that the energy produced is cost reflective. Twenty years ago, when we were established, the cost of energy was not cost reflective. That has changed but I agree with the Deputy that an awful lot more has to change between now and 2050. We will have to change much of the model. I might not have addressed the Deputy's point.