 The Danish story is that, amazingly enough, there seems to be a lot of backing for this green conversion or revolution in the Danish society. When we last year in these days decided upon a very ambitious 2020 target, 95 percent of the seats in parliament voted for this new rule law. And also Danish industries, the cultural sector, everybody supports it. It's a very amazing thing, but very helpful, by the way. And the story is that right now we, in the Danish society as such, we use around 850 petadules of energy. And when we approach 2050, well, everything should be turned green, renewables. And at the same time we expect to grow the economy, more or less to double the GDP over the next 40 years. So without, I mean, how can we make this equation, I mean, run only by efficient energy efficiency, very, very harsh measures on the energy efficiency. And also, as Jan told us about the electrification, because electricity is such an efficient tool to combat energy consumption. So that's part of the equation. The other part of the equation is that in the renewable side, well, when we did a study two, three years ago, we had a climate commission doing a thorough study saying, okay, how can we decarbonize the Danish society up to 2050? Is it doable? Yes, it is doable. We can do it. We do have the technology at hand, more or less. Secondly, is it feasible from a financial point of view and from a competitive point of view? Yes, it is feasible. It will not destroy the Danish competitiveness going down this road, as also Jan confirmed in his study. We did a similar study in EnergyNet because we have, in fact, also the responsibility for security of supply. And we do also have the responsibility of an efficient integration of renewable in the Danish society. So it is affordable for industry, it's affordable for consumers. And it's so exactly the same. It is doable. And we can do it without destroying the competitiveness of the economy if we do it right. If we do it right, because the cost can't be too high. We see that in Germany right now, because it did not build out the transmission capacity in due time. And that's the reason why now the cost of this conversion goes through the roof. And we have some social unrest because of that. But it can be done right. And I'll give you some ingredients as we see it, how to do it right. So basically when we approach 2050, our study show, yes, we have plenty of wind. We have, I mean, more three, four, five times as much wind resources as we need as we approach 2050. But also we have some biomass that we already today use. As you can see, it's a big chunk. But also waste is going through this combined heat and power processes. We have taken out three weeks in November from last year. You can see the pattern here, the gray, that's the load. You can see the weekends, you can see the spikes when we have cooking at evening. And that's approximately, it was 32% of classic demand we had as in wind. The wind accounted for 32% last year of total consumption. And you can see the green part here, that's the wind production. 2020 is seven years ahead and the plan has been laid down. We will build a number of offshore wind parks. We are now constructing the offshore platforms and taking the power ashore. And you can see here now, we see that many more hours we have much more wind generation than we can consume. Moving to 2035, because also the politicians said in 2035 we are not allowed any longer to use coal, oil or gas for heat and power production. We will have to turn these sectors green. The only thing left then in 3035 will be transportation, but the other take something longer. And that means that about 80% of classic demand will then be covered by wind, rest by biomass, basically. And then we go to 2050 and that's a rump scale, if we take the rice scale, that will be the picture. And then you can see really the challenge we have in front of us in terms of how to balance how to make sure we have security of supply also in 2050. We have some peaks, some valleys. We have more production here. How do we solve it? Well, first of all, I want to highlight that you cannot have 32% wind in your system, not even 20% wind in your system if you do not have a well function of markets. The market has to deliver most of these balancing services. So that allow the power to flow where the willingness to pay is highest. We are not allowed to shut down wind turbines in Denmark. They will always produce. That means that it's critically important for us that the market will then absorb and give the right price signals to the other production facilities we have. So if you do not have a market, I do know you have a market here in Ireland. But also to see the market in a bigger perspective, now in our part we have had the Nordic market for many years and now we are developing the Western European market and that is helping us, I mean joint expectation. Second thing is interconnectors are compared to that. It is that to be able to balance the system across a nation and to share resources, to share reserves is critically important. We come back to that one. And third thing is new flexible consumption. We need to be able to really absorb the amount of power when it's there, meaning that for instance the heating sector should be able to take the power. Also the transportation will be able to take some of the excess power we have. And in the valleys again interconnectors, hopefully there will be some power north or south and east and west of Denmark that we can import in these days, hours and domestic flexible power production. Well we will need power production also 10, 20, 30, 40 years from now. We have in Denmark, as you may be aware, a lot of district heating, two-thirds of all households is on district heating and they are provided with heat by combined heat and power. And they are very flexible systems we have, gas fired typically, and they are able to produce power when prices go up and it's a good business. So basically that's it. Here we have the map of interconnectors in and out of Denmark. We have already three HVDC to Norway, we're building a fourth now. We have three to Sweden here, it's also HVDC. And strong AC connection here and AC connection to Germany. And HVDC here to Germany and building a new one crickets flag, HVDC, to combine grid solution as mentioned before. And then we have a study of building a new connection to the UK and to the Netherlands and yeah. A lot of connectors, we are a small country. Our peak load is 7 gigawatt, our interconnectors and I think that's comparable to yoga. And our capacity in and out of the country is 7 gigawatt. Meaning that I could manage security of supply without having any single power plant running in Denmark. And really when I add all my capacity up together, right now I have 7 gigawatt of thermal capacity, I have 7 gigawatt of interconnectors and I have 4 and soon 6 gigawatt of renewable. So basically I can supply and a good day I can supply three times the power as we use. And that calls for interconnectors basically, that calls for interconnectors. And all these interconnectors, we have a huge inflow of money because they are really money makers, these interconnectors. Both in terms to my pockets, but also in terms of society. Because it helps, I mean directs the power to where the willingness to pay is highest. The value for society is highest and it helps us to eliminate the non-productive power plants. Because only the productive power plant will be allowed to run, the unproductive will be kicked out of the market. Even if we have 7 gigawatt of interconnectors, we are now building two more gigawatt because they have good business cases. And it tells me that, for instance, Germany only have a very few interconnectors in and out of Germany that there is room for improvement. Especially in the UK, I think they have only 4 gigawatt in and out of the UK and they have a peak load of 70 gigawatt or something like that. So there is a tremendous, well, good opportunities there. And then finally, this is, I know it's a very busy slide, but it's basically very simple. It says we have a well integrated power infrastructure, that's a blue one. We have a well integrated international gas structure that works. And then we have a heating system which is meshed between the power system and the gas system. Moving forward to make this integration cost effective, really we have to get the maximum out of this flexibility which is built into the heating system. Because our heating system can store heat for 2, 3 days, a week, some of the plants for a month because they have big tanks where they can accumulate heat. So that means that when power prices is low or we have too much wind, they should just produce heat via heat pumps or boilers. Use electricity, very efficient. And when there is no wind, I mean use the storage facility. That's one part of the equation. So another part of the equation is that when we have too much power, we can convert the power to gas. The problem here is efficiency, we lose 20, 30, 35% in this conversion. But because of this conversion either requires heat or creates heat, if we can combine that with our heating system and use this excess heat, I mean we can bring down the losses of the conversion. And also the biomass can be by thermal gasification or by biogas put into our gas storage facility. We have a lot of gas storage, underground gas storage facility where we can store energy, green energy also to cover the values when we do not have wind. So market interconnected to rethink the power, gas, heating and transport system and make them integrate. I think that's three critical elements to bring down the cost of this green revolution. That was my presentation.