Thank you, Mr. Chair.
I thank the witnesses for coming today.
There have been some really interesting comments. Professor Gray touched on revenue cap and premium winter months. Mr. Phillips, you talked about that as well in your comments, levelling off the humps, in winter months in particular.
I found that quite an interesting concept. Do you have any further thoughts on how that kind of premium might work? I have some concern whether some of that would be held off in order to get some of the premium, in terms of the railways.