Emma Pinchbeck

Yes, because so much of demand is coming from...

oil to drive our cars.

And we're already seeing electric vehicles cheaper than internal combustion engine vehicles.

So I'm confident about that change.

And I'm also confident about renewables being into the gas.

It's noticed that the energy transition in the long run is pretty clear.

So a lot of what we've been talking about with the markets is also a relatively short term, if painful, and we should do something about it problem.

That generation and the network build out on the power sector is done by 2035.

That's the power sector is like mostly done.

And once it's built, you start to get the market changing around those technologies fully.

Some of the things we're talking about with like constraint payments for wind or with the merit order is because of the moment we're in right now, it's not what we'll be by 2035.

There's a need to do something about bills right now, but it doesn't mean that bills in the long run are going to stay where they are.

They will start to come down.

On the energy system as a whole, I'm talking about, we use energy right across the economy, about 1,800 terawatt hours worth for...

1,400 terawatt hours to 1,500 comes from oil and gas.

If you follow a net zero trajectory because you're electrifying so much more of the economy, you get to not self-sufficiency, but only 280-ish terawatt hours of oil and gas left.

That is a massive change.

It's £40 billion worth a year of avoided costs of importing gas and oil to run the economy.

Plus all the savings you're getting from a more efficient energy system.

Plus the avoided climate damages.