Thank you, Mr. Chair.
Maybe I would just invite both of you to pick up on some of the conversation we've been having about Europe's experience with renewable energy. I acknowledge your accurate claims about the downward trend in cost, but even today German power prices are at an all-time high in 2016 on low wind energy.
I was reading earlier about the European Commission's winter package of energy measures. I understand they have a goal of at least a 27% share of renewables in gross European energy consumption by 2030. My understanding is that this is set at the EU level, not at the member state level. The European Commission has criticized both the target in place and also the governance framework, and suggests that modelling demonstrates that the EU is not on track to meet that target. They say that new measures will be needed to maintain even the 2020 status quo goal. They suggest that neither the governance frameworks nor the evaluations in place would be able to achieve the target. Relying solely on the EU measures would not be cost-efficient, and would lead to an uneven uptake of renewables across the EU and ultimately a failure of those targets.
Mr. Edwards might have comments on this as well, but since you referenced it, Mr. Stensil, I wouldn't mind hearing your comments on that in general, on the applicability that you would foresee for Canada, and on any lessons learned. Obviously you're familiar with what's going on in the European Union. If you want to look ahead, I invite you to discuss any jurisdictional comparisons.