It's a bit of a complicated question, but natural gas right now is very inexpensive at $3.50 per million BTU. It was $10. In Europe it's $12, and in Japan it's $16. So we have huge price variations, and right now it is at a low price. So for someone building a new natural gas plant, combined cycle cogeneration plant, it is very energy efficient and can produce electricity very cheaply.
How cheaply they'll be able to produce it in five or ten years time, when Canada might be paying more of an international price.... I don't think we'll pay the same as Europe or Japan, but as natural gas begins to be more of an international resource like oil, I'm sure the oil industry would love to see a very different price for natural gas. That's why there are huge discussions in Canada on LNG and exporting gas.
Again, when we do the evaluations, we're looking at the actual price of electricity in each province. Some provinces have less expensive electricity. Those that are blessed with hydro resources that were built a number of years ago, such as Manitoba and B.C., have relatively low electricity prices. When we do an evaluation of a project in Manitoba or B.C., it's very different in terms of the payback compared to the electricity in Ottawa or Toronto.
Natural gas and oil are about the same, but with electricity there are regional differences. When we do those evaluations and the payback periods, they're based on the price of electricity in the city where the project is located. It's not a national number.