RWE npower closed the year with an operating result of €534 million–down 26 % on the previous year. Net of currency effects, the operating result declined by 14 %. Our earnings in the UK electricity generation business improved. We lifted earnings above all through our short-term position management. Expenses incurred to purchase CO₂ emissions certificates totalled €194 million, compared with €114 million in 2007. In contrast, the operating result achieved by the supply business declined considerably–also net of currency effects. This is largely attributable to the household segment, where bad debt increased. Furthermore, the UK government obliges utilities to promote energy savings in homes and to provide assistance to low-income customers. RWE npower spent about €90 million more on this than in the prior year.