Timeyin Akerele

And I recognize the pressure that a lot of people are under paying their energy bills, households and businesses.

Yeah.

I think the reality is that any significant changes to the energy market take time.

You've got to change systems, change contracts, do legislation.

So in the years that it would take to make those changes...

And the benefits of doing so sort of are falling quite fast.

And I think there is merit in having a sort of stable system because then investors know what they're doing and you can invest with confidence that gives you the money you need to change the system and at a lower cost than you'd pay if there was uncertainty.

So I think over time it is...

It will solve itself.

And that's not Ofgem's judgment.

It's the government's judgment.

They looked at this in detail.

Yeah.

So, well, there's different things.

There's energy, there's electricity generation.

where for the renewables, they have to compete in auctions to get contracts from the government.

That's definitely competitive.

And then the wholesale market in electricity is competitive.

You've got different things bidding into that.

Gas prices set in international markets, again, that's competitive.