Along with the regulator Ofgem, I am closely monitoring the effects of the current economic climate on the energy sector, including on investment plans. There are signs of the willingness of investors to continue to develop new generation capacity with some 9 gigawatts of new electricity plant currently under construction. In addition some 3 gigawatts of new plant has received consent, while consent applications with a further 4.5 gigawatts have also been received.