 Harvey, who started a company, oh, maybe 20 years ago at this point, was sort of a precursor to us in some ways. It was helping bring better information to consumers and to the utility about their energy consumption. And he was very kind and generous to me when we were starting the company, and was very encouraging. So I'm glad he's still encouraging. So I thought I'd start a little bit with things that you already know. And then I have a very brief set of slides here to show, introduce you to the problem or the opportunity, and then a little bit about the company and the impact that we've had to date and what we see as the potential for Ireland. But I'm very eager for discussion and conversation. I used to – we were just talking about this – I used to work in politics in the U.S., which feels sort of half of our politicians are Irish, so this is a fun and familiar audience to me in some respect, or your cousins are anyway, so eager for the conversation. So two years ago this month, the Energy Efficiency Directive was passed in Europe and in Brussels, and there is still work being done to understand exactly what this means and whether there will be binding targets or voluntary targets. But there's a clear interest in achieving efficiency, and events of the last nine months in Ukraine, I think, underscore the critical importance of national security and European security interests in achieving as broad and as deep efficiency as is possible. And – but of course there are significant challenges for this, that the plans are not are falling short, and that many of the plans are quite expensive, and in a world in which – an economy in which resources are strapped and growth is slower than one would like – it's sometimes difficult to continue to justify the investment. But for us, what we look at and what inspired us to start the business was – and me inspired – inspired me to leave being a failed political consultant. There are lots of things that inspired me to leave being a failed political consultant. The primary one was the – what we saw is this tremendous opportunity. When we started the business seven plus years ago in San Francisco, there were a lot of entrepreneurs who were focused on energy and climate, but nearly all of them were focused on the supply side, renewables, et cetera. And when we started the business, we saw that we believed that there was an equal, if not greater, opportunity on the demand side – far less sexy, perhaps, but just as impactful. And while our fellow entrepreneurs were focused in one place, we thought if we were going to be successful, we might as well try something that other people weren't trying. So there's this huge opportunity. This is in the U.S. This is residential energy use, but this was a study that McKinsey did with us on our data. We didn't pay them. They looked at the data. We looked at it together. And they identified that 20 percent of all electricity consumed in U.S. homes is wasted. And by wasted, I don't mean that people watch bad TV, though we do, or that people have inefficient light bulbs or insulation. And of course, that happens. I'm speaking here. This is electricity that goes to heat empty homes or light unoccupied rooms. What else is it? Well, I don't know why this stove, maybe it's to heat full water kettles when you only need water for one cup of tea. But it's 20 percent of all electricity consumed. And we believe from looking at the European data, though you use less than we do, that it's a similar amount that is wasted through behavioral loss. And this does not account, of course, for all the loss as a consequence of infrastructure. So the question was, and we didn't know that number at the time, but we recognized that there was a huge opportunity. For us, the question was, how do you actually tap into this behavioral opportunity? Because this is a room filled with environmentalists and people of industry. And we think about energy and climate all the time. But most everybody who isn't in this room across the globe, energy is not something that's top of mind. Nearly everyone thinks saving energy is a good idea and wasting energy is a bad idea. But next to nobody wakes up in the morning and thinks, how can I save energy today? Or how can I go to a breakfast to learn more about how we can save energy? This is a rarefied and pretty nerdy group. I'm proud to be in your company. But it's unusual. I have a client, the CEO of Pacific Gas and Electric, who I guess is, well, anyway, he describes, he told me, he said, we're in the toilet paper business. And I said, what do you mean the toilet paper business? He said, well, our customers only think of us when we're not there. And it's true, the way the people think about electricity only when the power and the lights don't go on or when they get an unexpectedly high bill. And so the question is, how do you make energy top of mind in a way that engages and empowers people? So we had a few ideas. And then we stumbled upon this study, which gave us quite a bit of confidence that we were onto something. This was a study that was done in San Marcos, California, which is 50 or 60 miles east of San Diego, and enjoys similar weather to Dublin, incredibly hot and sunny all summer long. And air conditioning there is the big load. So these scientists who became our advisors did this study. And they wanted to identify what actually would motivate people to turn off their air conditioning and turn on their fans. And everybody in San Marcos, a renter, homeowner, wealthy, poor, has air conditioning and uses it. So first they conducted public opinion surveys to try and identify what people thought would motivate them. And then they actually did field work, where they sent graduate students out into the field to put door hangers on every home in the neighborhood. And then they actually measured, because the meters in the US are outside the home, they could actually read the meters every week for four weeks to see what kind of impact they had. So a quarter of the homes received a message that said, did you know you could save $60 a month this summer? Turn off your air conditioning. Turn on your fans. Another group got a message about saving the planet. Turn off your air conditioning. Turn your fans. Help keep the environment in good shape. And a third group, and this was in 2003 in California, right after the blackouts, turn off your air conditioning. Turn on your fan. Be a good citizen. Help prevent blackouts. So by show of hands, who thinks that the money-saving message worked best of all with these Californians? And what about the environmental message? You guys don't think much of us Americans do. And what about the blackout message? OK, so at least you think we have some civic responsibility. So this was a trick question. These messages are not a trick question so much. These messages had zero impact. They were delivered every week for four consecutive weeks by grad students. There was coffee and donuts consumed to fuel the grad students. But it had no impact compared to a control group on energy consumption. On the other hand, there was a fourth message that a quarter of the homes received that said, did you know 74% of your neighbors turn off the air conditioning and turn on their fans? Please join them. Turn off your air conditioning. Turn on your fans. It turned out the people who received this message, there was a statistically significant drop in energy consumption as a consequence of this. And I know it's true here in Dublin because I travel around the world and it's true everywhere, including in my own home. But children everywhere and for eternity have been arguing with their parents that they should be allowed to do something because their friends are allowed to do it. And parents everywhere for as long as there have been parents have said, it doesn't matter what your friends do, I'm your father. In our house, I'm going to make the rules. And we have this delegation of executives from China's southern grid, which is a utility. Only the second largest utility in China, but they have 240 million customers. And they came into our offices a few weeks ago and we went over this stuff. And they recounted how they've told they have the same line with their own kids. And it turns out despite generations of parenting that we have not been able to knock this instinct out of our psyche that people, children everywhere, and it turns out adults everywhere, we are greatly motivated by what we see other people doing, even if it isn't entirely rational. And so when it comes to energy consumption inside our homes, it's been a long time since black smoke emanated from your chimney when you use energy. And so it hasn't been transparent before how energy is being used and putting this in context. So we saw this study and we decided we would build a software company to help take advantage of this and some other opportunities. And so there aren't enough grad students and presumably they have more important work to do than deliver door hangers. So we built a software company. This is one of our products. It's a report that's delivered in the mail coming from the utility, PG&E is the toilet paper utility in Northern California, San Francisco and so forth. But these are now being delivered to nearly 10 million homes across the globe. It comes separate from the invoice or the bill. It shows people how their energy consumption compares to similar sized homes in their area. And then, and now it's nearly 10 million homes receiving this through the post. And it's another roughly 25 million homes who have access to these information online and we send out emails and text messages and so on. But this is the first thing it does is it shows people how their energy consumption compares to their neighbors, which in this case you have somebody using 35% more than their neighbors. It turns out to be very motivating. And then the other thing we do, which is a critical piece of it, is identifying the best advice to give to each customer. You shop, everybody has, everybody's shopped at Amazon.com or Amazon.co, whatever. So Amazon sells millions of products on their website, but when they send each of us emails, they don't send us a digest of the millions of products. They send us specific recommendations for us based on what we've purchased in the past and what they think we'd be interested in. And they don't always get it right, but they do better than a random scattershot of their offerings. And so for us too, there aren't a million things you could recommend to somebody that they could do in their home to save energy, but saving energy is far less exciting than shopping. So it's just as important to be targeted. And based on the load profile for the customer, based on the weather and temperature data, based on the housing stock information, based on whether we think the customer is a homeowner or a renter, we target different recommendations to these customers. And to date, we've had a pretty significant impact. So these communications are delivered, every one, the academics in the room will be happy to know that when we run these programs, we run them as typical sort of experimental, randomized control group experimental design, which is to say we take a large population of people, we randomly subselect a control group to whom we don't communicate and then everybody else we communicate with. And as long as the population is large enough and the randomized control group is truly random, you can with high degree of precision measure the impact that these communications have independent of the other things that affect our energy use. And so what you see here, sort of a spaghetti graph of sorts, is energy consumption, this is the savings, this is the difference in energy consumption between the consumers who receive the communications and the consumers and the control group. And what you see is each one of those lines represents a different utility program, and this is already out of date, but this is four and a half years approximately into program, the longest running program, that within six to 12 months, we're achieving a savings rate of around 2%, anywhere from one and a half to three and a half percent, and that those savings persist now for our longest program is nearly six years running. Now two to 3% is de minimis in any one household, but to date we've saved roughly five terawatt hours of energy, and in the last 12 months we've generated two and a half terawatt hours of energy to put that in context. The Hoover Dam, which was built in the Depression, Great Depression in the Western US, 6,000 men spent seven years building it, the cement inside this Hoover Dam in the very heart of it is still drying. Some 80 years later, and the Hoover Dam produces approximately 3.9 terawatt hours of electricity a year, and some point in the next six to 12 months we will overtake the Hoover Dam in terms of the impact that we're having. And so think about great infrastructure projects and the great opportunities to meet energy demand and energy supply, and historically we've thought only about things like the Hoover Dam or a slightly smaller scale, perhaps a power generation. We believe, and we're proving with our partners that there's an opportunity to treat customer demand, customer behavior as an asset on par with that. In addition to the energy savings, and these are independent evaluators, but we've also been evaluated, there was an article published in Science, which my mother was very proud of, and as was I, and it's been peer reviewed by a number of academic journals as well. Nobody yet from Trinity College, but we'll look forward to that. The other benefits of this approach just quickly, one is that it is in some ways perhaps the most exciting one is in the top left corner, that what we find is that the savings are fairly persistent and consistent across different demographic groups. Often one of the criticisms levied at energy efficiency is that these are programs that benefit the wealthy because they're the ones who can afford to make the investments in their home. For our program, because we're fundamentally affecting human behavior, it's something that we've seen consistent, at least relative impact across different economic groups. We also see it across homeowners and renters and across young people and old people. The second thing is we have disproportionate impact at peak and if we have time I'll show you some specific things we're doing at peak. A third is that we're increasing program participation and when I mean program participation, I mean that we're increasing take rates of other efficiency programs. So ESB or the Electric Ireland I've noticed on the website has lots of efficient products that they're selling to their customers and I know the SEAI is funding other rebates and financing to help customers become more efficient. We've been able to demonstrate significant increases in participation in those programs, both because we market them in the context of these communications but also because we make people more aware of and engaged in their own energy use and as a consequence they're much more likely to take advantage and to pick up their hands when somebody offers them an opportunity. And the last piece which is not to be discounted is that in an industry that has struggled to find good ways to build trust with its customers, we have been able to move the needle consistently in improving trust and satisfaction. So these are some of the utilities we work with. We work with almost every large utility in the US and in Europe we're now working with EON, EDF and a small supplier in the UK also. I spend a lot of time in Japan working with TEPCO and if you're concerned about the challenges you face here in Ireland around energy and making the transition you should take some comfort in knowing that there's an island on the far side of the world or a collection of three or four islands I guess in Japan that make all of our problems seem insignificant. But we're working with TEPCO and we're going live to all 20 million of their customers next month. So what's the potential in Europe? We've looked at the data in Europe and looked at our initial results from our programs with EON and EDF and we just released this last week but if we were to go live to, I don't know why it's 26 countries not 28 because they're into 28 in the EU. But in any case, it's looking at the impact that we've had to date, we believe we could reach if our program like ours was deployed nearly 150 million homes and generate more than 12 terawatt hours a year in energy savings, which would be in addition to returning nearly two and a half billion euros to people's pockets, it would be enough to power all the homes in these five ginormous countries as well as Brussels and Strasbourg. Though small in any one home, a sizable impact added up. Of course, not sufficient to solve the problems that we have, but we would argue a necessary and important component. This is just to put it in context, 12 terawatt hours in annual savings is quite a bit more than what the UK is doing annually today across all of their programs in residential, commercial and industrial. Skip through this. I put this here not because I wanna be invited back although I would be happy to be invited back, but because it's true. The Energy Efficiency Directive was transposed here and in Denmark and you guys had a schedule or both countries have included behavior in their rulemaking. And we just looked at this was applying the kind of impact that we could have or program like ours could have according to the accredited savings in both electric and gas. Now, I say this, this is according to the impact that was in the accreditation. Based on the actual savings that we believe will generate, it's closer to 100, gigawatt hours per year in energy savings, which I'm told is enough to power the city of Waterford, which I haven't been to when I understand it's more village than city. But nonetheless, here it is. So that's what I had. I have one more thing which is to show you some of the more recent things that we're doing specifically around peak. But I also wanna be mindful of time and people's questions and I can happily get to the part about reducing peak demand in particular and some of those things. But I wanted to stop before I put everybody to sleep and see if I can answer some questions or engage in debate.