 Welcome, everybody. Just to say that we're delighted to sponsor this very important and relevant topic for the evolution of the energy industry on the island of Ireland. It's also very timely, I think, because just last week the regulatory authorities have released a consultation on how we can best change or evolve the single electricity market that we have on the island to meet the requirements of the EU target model. And we're delighted and again congratulations to the IEA for assembling a really excellent panel of speakers. So we're delighted that Jean-Voignois, who's acting director of the internal energy market directorate at the European Commission, we have Daniel Dobany, president of the European Network of Transmission System Operators, NSEW, Garrett Blaney, commissioner, and Allison Kay, again commercial director of the Transmission National Grid in the UK. So I think you'll agree an excellent group of speakers. Just to say a little bit by way of introduction, our role in the move to the EU target model as a group, a system operator in both jurisdictions north and as market operator across the island, and as an active member of NSEW, heavily involved in drafting the network codes, I believe that we do have a central role to play on the move towards the European target model. And we are working very closely with the regulatory authorities and are committed to playing our part in ensuring that the market and that the system operation arrangements are appropriate for the specifics of the Irish market here. And that we move to allow us on the island to play our part on the internal energy market. Elaine asked me to just say a few words about the physical infrastructure that's under pinning the model, which is the interconnection. And as you know, we're developing the east-west interconnector. And I want to just maybe give you a few slides just on how we're doing, I suppose, first to say that we're on track. We're on track for late summer this year and we're within budget. So that's always a good news story just to have to report. Now how do I move this forward? Okay, there we go. So maybe just to talk a little bit about the east-west interconnector. It is a critical enabler in any move towards closer integration of the markets. So together with the MOIL, the east-west interconnector, as I say, is on target for late summer this year. Between the two interconnectors, we'll have of the order of 900,000 megawatts of interconnection capacity, which is about, I suppose, 14% of the peak load on the island. So we will be significantly interconnected to the market in Great Britain and, of course, through that to Maine and Europe. Just to talk about the project itself, you can see there we are connecting between woodland and d-side, two very strong points on the Irish and on the network in Great Britain. Our project comprises an element of on-land undergrounding in Ireland, then, of course, the Irish Sea and about 30 kilometres on land in Wales. In Wales, the ducting and trenching is 100% complete, and the cabling is about 84% laid, so that's very much on track. In Ireland, ducting and trenching is almost 100%. We're nearly there on the ducting and trenching, and we have about 75% of the cable in place. All major horizontal directional drills have been completed, and that includes the crossing of the River Dee, which is a very, very significant crossing, and obviously a risk for the project, but that's now successfully completed. We expect that all the land cabling and jointing and grouting will be completed by mid-May, and that the marine cable will be fully laid by the end of May. In all of this safety is of paramount importance, and it's top of our agenda in any meetings that we have with our contractor. We have over a million hours' work to now at this stage without any serious accident, and we're hoping, obviously, and working very hard to make sure that that continues to be the case. Maybe just a quick run through some of the slides here. This is a picture, a fairly recent picture of the converter station in woodland. You can see the building itself is pretty well complete now at this stage. The transformer base back at the back here, the transformers are delivered to site, and they'll be installed very shortly. In Wales, the transformers are already in their places, so pretty well developed on track in terms of the converter stations themselves. In terms of the marine, we did complete the 2011 marine program very successfully. We set out to do about 40% of the marine crossing in 2011. In other words, to advance some of the marine work into 2011, away from 2012, and that de-risks the project significantly, and happy to report that that has been completed. You can see here the Nostag, which completed about 40 kilometers here off the coast of Wales very successfully, and also another eight kilometers off the coast of Rush there. Next up was, next up was a team of men, which completed about another 44 kilometers. As you can see that section there out into the Irish Sea, and that was followed by the island pioneer which effectively trenched that into the sea bed. It remains then in the 2012 program for about 80 kilometers there to be completed by the AMC connector, which is newly built, one of the biggest cable laying ships in the world, newly built. It's being trialed at the moment. Everything is going to plan, so that will be arriving in Irish waters in April of this year to complete the marine crossing. So we expect to be commissioning from June through to August that kind of timeframe to be completed by September. But of course the physical interconnection isn't enough. We also have to put in place the arrangements for traders to trade over the interconnector. So work is well advanced on the operational and commercial arrangements with a consultation issuing this week on the capacity auction products. The access rules governing of how capacity is bought and sold were approved late last year. The auction management platform is implemented, and the first auction on EWIC will take place in June of this year. But of course it's already operational for the moille. And the licenses from both CER in Ireland and OFFGEM in the UK have been approved. So it's a very exciting year I think for the completion of this, what I believe is a very transformational project for the Irish industry. It will signify a huge amount of change, a lot of which we'll be talking about here today. And we are on the verge of very significantly increasing the integration between neighboring markets. And very much in line I think with the direction that Europe wants us to go. So we're determined as the Ergud group, both Ergud, Sony and SEMO to play our part in ensuring a successful project and that critically the benefits are realized for all customers. So with that I'm going to hand over back to Lim. Thank you Lim. Thank you very much. Thanks David.