Mr. Jim Gannon:

As an economic regulator, we follow Government policy. We report to the Government and follow Government policy. We are ambitious with regard to decarbonisation.

We are ambitious with regard to making sure that the lights stay on. In order to access the economic opportunity contained in our climate ambitions and climate action plan, again not just treating it as an imposition to reach a target but treating it as an opportunity ultimately to generate wealth, things need to be built. Be they interconnectors, wires on shore, onshore or offshore wind farms, smart meters to make sure that people can contribute and benefit from the SEM or, ultimately, gas or decarbonised gas pipelines, it is all infrastructure that needs to be built to bring kilowatt hours and energy to our citizens. We want to decarbonise that also.

The required investment to build this infrastructure has to come from somewhere. That is the key challenge that we face. We need to make sure that we invest to get to the point where we are decarbonised, less exposed to the vagaries of the international energy market and can export to our national benefit. We will need to invest and we will need infrastructure. We want it delivered as cost-effectively as possible, whether that is through our network companies or through the suppliers that operate in the market. As it is delivered cost-effectively, we want to protect the consumers in their interaction with those suppliers in that marketplace. It is a challenge. To reach that place where we are accessing this opportunity, infrastructure and investment are required.