The Upside to Pumped Hydro

The South Wales electricity market is an insurance product. It's just a very valuable thing to be offered a minimum electricity price for 20 years. And you get to keep the upside. So I can see why it's very appealing to investors. Most of the upside, that's correct. We do take a little bit back for consumers. David Cameron: Do you think pumped hydro doesn't seem ready in this auction or perhaps further down the track? The next one starts at the end of this month.