 Well, thank you very much, Liam, and thank you very much, Dermott, for having me here today at the double IEA. It's a real pleasure to be in Ireland again. During my time at the IEA based in Paris, I've had a chance to be over here a number of times. And I won't say too much except about Ireland itself. I want to keep it global, as Liam mentioned. But the one thing I think I can say without reserve is that Ireland is really doing some interesting and I think world leading work in smart grids. And I've had a chance to, Ergert actually supported the IEA roadmap. I've had a chance to attend a workshop at ESB as they talk about their vision moving forward. And, you know, the one message I do want to leave here is that I think the world needs to hear more about what Ireland is doing in smart grid. Because I think you have real problems and you're finding real solutions that other people have not reached yet. So this is going to be very exciting. But now just to go back and talk a little bit about the work that we've done at the IEA and I'll touch upon some of those other points again throughout my presentation. When we look at the energy system, we look at it from a global perspective. Having members from around the world, we have 28 members of the IEA from Asia, North America and Europe, of course. And we believe that an energy revolution is needed, but not only for climate goals, but also for energy security. We're seeing an increased focus on the energy security issues today. And we see also that a range of technologies are needed. But one of the interesting things is you don't see smart grids in that list, but many of those technologies listed there are directly impacted by smart grid deployment. And as we were talking about over lunch, even CCS, a technology that I didn't really see the link between smart grids and itself, we're now actually starting to identify some links in that. So we are going to need a range of technologies. And within that, we see the electricity system. And one of the key questions that I got at the beginning of my work in smart grids was the question of what is smart grids? Well, what I've seen is that that question has now evolved to smart grids is X. And they will say smart grids is deployment of renewables. Smart grids is smart meters. Smart grids is customer systems. And I think what's important to understand is that smart grids is deployed throughout the electricity system. And that it is not a one-time event. It is a development. And it is moving forward. It doesn't happen just one step and you're completely done. And I know that I'm speaking to people who know that in this room. But another aspect of this is making sure that we can communicate this properly to the policy makers who have to make the decisions to deploy smart grids in our system. So again, touching again on the fact that smart grids technologies are deployed throughout the electricity system. Simple diagram to just show that they deal with the transmission system, the distribution system in the customer side and all sectors in the customer side. And a range of technologies. And this is a challenge I think for those who want to see this deployment in that it's not just a simple provide a support program for solar energy. You know, deploy solar panels. That's needed. That's maybe appropriate in your given situation. But it's much more complex. And in some cases, as I'm sure a number of us have heard, there are problems where you get customer pushback. So a big part of what we want to do is really look at describing smart grids in a way that people can understand both customers and policy makers, and then also very clearly articulating why do we need them. And that's where we start to touch on this. When we see smart grids being deployed throughout the electricity system, what are we doing? Why are we doing this? So we see demand side problems. We have variable demand, management of electricity use, and increasing electricity costs. And we see that smart grid solutions can include demand response, the acceleration of energy efficiency, and building or home automation. So that's just one part of it. Another consideration is distribution problems. We have in many systems around the world, we have aging infrastructure, we have increased demand through new demands, we have just more electricity consumption in homes, peak demand, lack of outage, information and electricity theft. So again, we have the information and communications overlay with smart metering and sensing equipment, the ability to provide real time or near real time outage information, and detailed monitoring and management of demand, and other technologies. So there in the distribution systems, we see that. Electric vehicles, very exciting technology. I'm excited to hopefully have an electric vehicle someday or at least drive one. But how are they charged? Well, they're charged through the electricity system. And I think in the early discussions of electric vehicles, these were not addressed or considered to the depth that's needed because they potentially could increase peak demand issues that already exist in a system. So therefore, we can see intelligent charging of electric vehicles and the potential to add grid stability through vehicle to grid operation. So we see this also in the transmission system, the opportunity to address problems there through high voltage DC, superconductors, flexible operation. And some of those aren't directly smart grid technologies, but they will too need that intelligence, that computer and IT support to operate them effectively. And then just lastly, talking about the generation side, we do see, obviously, as Dermott mentioned, the increase of deployment of variable renewables. But then we still have inflexible large scale, whether it's coal or nuclear generation. These things have to work together as a system. And again, smart grids can play a significant role in that. So I've tried to just highlight the individual parts of the system where, and just provide some examples to try to, I guess, make it a bit more real of what smart grids are. But overall, the way we describe it is overall monitoring and management of electricity flow from generation to end using through, sorry, electricity flow from generation to end use through two flow, two way flow of both information and power. That is what smart grids are. So Liam wanted me to provide a bit of a global perspective on some of the large drivers for smart grids. And this graph wanted to point out a few key aspects. One is that we see the OECD member countries on the left side of the figure. We see actually quite modest growth. But then when we go into the developing countries and emerging economies, we see significant growth. And it ranges in the pink bars there from over 100% to over 500%. They're going to see significant deployments in their countries. So they have the opportunity to leapfrog using smart grid technologies. And in the OECD member countries, we see a lot of issues with aging infrastructure. So both are drivers for smart grids, but from a different perspective. And here what we see when we actually put numbers to that, some significant markets and opportunities. And again, as we look at China today is about the, I guess, the third largest electricity market. And it's going to go to the largest market in the world. We see India will be a bigger market for electricity demand than Europe is today by 2050. So these are some big changes and we need to address that doing things better from an efficiency point of view and an operation point of view. Very tied to development, but also competition and energy security. Electric vehicle and plug-in hybrid electrical vehicle deployment. We see significant deployments coming in the next 40 years. And what's interesting about EVs is that I hear arguments that, well, you know, we don't really need to worry about that from the perspective of, you know, the 2020 or 2030 timeframe because that's at the point where they start to really get big. But what this doesn't show is the deployment of electric vehicles in cities. We expect, this is, again, global and numbers averaged across regions, but cities will see these deployments very much earlier or the bigger scale of deployments. So they will have to be addressed. From a sectoral demand, I see that this graph looks like it didn't come out with its legend on the screen here. But this is, again, just to illustrate one of the key points. It's very interesting. This green spot here under one scenario shows electric vehicles again. This is 10 percent of demand where today it's zero. So that's a very big change. And we continue to see growth in all sectors for demand of electricity. So all these issues need to be addressed. And lastly, peak demand I think is an issue that's seen on many systems, whether it's summer peaks or winter peaks. How can this be addressed? And we've just completed a study that shows the role of smart grids. So I've talked about the demand side of the equation here as one of the drivers and here showing some data that we've developed at the IA, looking to the future on the generation side. And when we look at, again, on a global basis, what's important is if we keep with the business as usual with the baseline, we see that on an average over the globe only about 5 percent of variable renewables deployed. So I think it's generally accepted that that can be addressed by the current way that we do things. But when we go to the blue map scenario where we actually achieve the two degree temperature rise or the 450 parts per million CO2 emissions in the atmosphere, it's at the 20 percent level. So that's actually getting to be significant. But even if we go one step further and look at it regionally, we see that this, the penetration levels are very high in many places and at a minimum we're seeing significant change. And yet I know again that this here doesn't reflect the situation of Ireland at all, where Ireland will see actually much higher deployments of variable generation. So again, this global analysis provides value, but we always need to drill down to the individual systems to really get a clear picture of the issues. So what about climate? And this is a tricky thing for smart grids because in some respects smart grids are an enabling technology. They don't produce or consume energy per set. But using some work that's done, that was developed out of EPRI in the U.S., we're able to make an estimate. And again, this is a first cut, but smart grids have a real potential to reduce CO2 emissions and we estimate two gigatons by 2050. And that's actually quite a significant amount. And it does that through enabling other technologies, but also through some direct emission reductions by improving energy efficiency in the system. So overall, what we see is that smart grids, although this, I do have concerns that smart grids could be just a name, almost a marketing, I guess a marketing word to talk about the electricity system, we do see it as a piece of the puzzle of really tying together the societal, the regulatory, the financial and the policy issues within the electricity system. But at a minimum, it has really brought the attention to the system in the recent years on a global level. And we're really excited about that because we think this analysis is needed and more work is needed in this area. So what are some of the key efforts that are needed? There are a range of areas and so I've divided them up into four separate areas. There is work that needs to be done from a technology perspective. We still need to quantify and directly show what the benefits of smart grid are. And of course, the challenge with this technology, I think, that is not seen by many people who don't work in the area, is that it needs to be integrated with both existing and new infrastructures. And I think that really is one of the big challenges. There is a significant amount of work that is needed around policy and regulation. And I think it's fair to say virtually all over the world we've seen significant move to liberalization. There are pockets where this isn't the case. So this is given as benefits and problems. It's segmented the market which makes it more difficult if some smart grid deployments in the distribution system benefit the transmission system who pays and who benefits. These are issues that have to be addressed because as private companies or shareholder based companies they need to be accountable for where they spend their money and how they make their money. So these are problems that have now been brought up as compared to monopolies or vertically integrated systems where decisions can be, costs and benefit can be shared throughout the whole system. Cyber security is a key issue as we do look at significant amounts of information being captured and transmitted. How secure is that to protect both the people as well as the operation of the system. And lastly on the customer side of things when we hear about pushback on smart meter deployments and say other effects that we might not have anticipated such as people often at first cut look at time of use metering or time of use billing that's enabled by smart meters. That can be really good but what about the low income person who doesn't work and is at home all day. They can't take advantage of those situations. What do you do with that? And that requires work in the area of policy and regulation to address those issues. Another thing that we see as a key need is looking across the electricity system. As there are so many stakeholders and in our discussion over lunch Katrina talked about some of the advocacy efforts in the United States where there's deliberate attempts to stop deployments of smart grids or smart meters by certain groups that are not expected. And often the cause of that is that they weren't engaged in the first place. And so I think we need to look very broad and holistically as we move to update this system because it's going to have multiple benefits but it is going to have impacts on people. And then lastly on international collaboration. Yes, there's a lot of work happening in Ireland. That's very positive but there's a lot of work happening all around the world. And what we don't want to see and I don't think anyone does is that work is replicated without value. We would love to see more sharing of knowledge and I think the electricity industry is set up well to do that with utilities that are regionally based not necessarily competing with each other. Have that opportunity to share openly to learn and give and can accelerate the deployment of this technology. I touched on it a little bit but the developing countries in emerging economies we're starting to do more work in this area but we see that smart grids can really play a key role there allowing them to leapfrog not following the pathway maybe in our own countries that we followed. So there could be some real good opportunities there for them. So I just want to touch on a couple of things that we're doing in the future and then I'll be wrapping up. One thing I'd like to just point out is the International Smart Grid Action Network and Ireland has just joined I guess our newest member so welcome. So this is a group that is housed under the IA where we can actually do some of that international collaboration. And the key areas that we're starting at global smart grid inventory what is happening around the world. There is some work in Europe of course that have gathered some or have developed an inventory but we still don't have actually a clear picture of what's happening around the world. Smart Grid case studies again an opportunity to say what's going on what's going well and I hope what's going poorly. I hope we can communicate that openly. Benefit cost analysis and this is I think a very interesting topic. We're starting to get a grip on the cost what I don't think we're communicating as well in the industry is benefit both financially and other aspects like keeping the system operating. So we're working on that and then synthesis of insights for decision makers it's a long name hopefully it will be changed. But the key point that I brought up at the beginning how can we communicate what we need to do and how it needs to be done well and simply. So looking ahead some of the work that we're doing smart customers definitely need to address them as one of the key stakeholders the key beneficiaries of the electricity system in general. So how are they treated. We need to understand that well. We are directly doing work on the benefit cost analysis and one of our newest pieces of work is looking at demand response from as a flexibility mechanism and doing that in a quantitative way rather than just a qualitative way. One of our key publications energy technology perspectives 2012 again more discussion of this in the entire energy system. And then lastly energy systems in emerging economies and developing countries. Looking at that both from an opportunistic point of view how can we help how can what are the business opportunities as well as in the end we're all competing for the same amount of finite energy in this world. We need to understand them we need to help ourselves and we need to help them so that there's enough to go around looking at it I guess from a self interest point of view. And then lastly again is again is continuing to work and I would encourage you to monitor that to take a look at what's going on in the global smart grid world. So lastly as mentioned by Dermott we believe smart grids are very important from an energy security economic development point of view and as well climate change and I'm excited to see where this goes in the future and I think it's going to be very exciting and very positive. So with that I'll say thanks.