As part of our governance arrangements, we have set up a Risk Management Executive (RME) which is a sub-group of the Board. The RME meets monthly and discusses key risk and operational issues affecting our retail and trading businesses. It also reviews regulatory risks affecting our whole business.

We manage our significant risks using an internal control framework, which is subject to an independent review by our Internal Audit function. Risks are controlled and performance improved through planned, independent reviews conducted through an audit plan. This plan considers the key risks facing the business both now and in the foreseeable future, and is reviewed in the case of legislative or other significant changes to the business.

As part of the E.ON Group, we must comply with the requirements of the Sarbanes-Oxley Act (SOA). This requires the management team to demonstrate through evidence and testing that it has designed, documented and implemented effective controls over financial reporting. We have a Sarbanes-Oxley Compliance programme in place to ensure this.