Companies are not looking for more money from the government. They are looking for more certain framework.

The run up to the 2007 full-market opening in Europe will continue to feed consolidation momentum in the EU. Around the globe, increased competition is driving companies to turn to M&A activities to deliver growth horizontally and vertically. High wholesale power, gas and carbon prices also are creating new platforms for deal activity, pushing up generation asset values and bolstering the rationale for deal prices. As we look ahead, we can expect to see greater integration of upstream and downstream entities and more moves by the mega-players. The attitude of the competition authorities will be critical to future deals.

The run up to the 2007 full-market opening in Europe will continue to feed consolidation momentum in the EU.

The electricity and gas M&A activity surpassed the exceptional momentum that had already built up and is continuing to gain speed in 2006. We are seeing a new era of 'blockbuster deals.' Companies are consolidating and extending their regional footprints to attain non-organic growth in a tight sector facing high fuel prices and security of supply concerns. We are also seeing greater involvement of financial players in the market with the rise of infrastructure funds creating a new asset class.

This says businesses are gradually, grudgingly putting money to work. They're still being cautious, but not as cautious as the data before this morning would have suggested.

The government enjoys having the use of your money all year. They get to spend and invest it for themselves, and you don't. So unless Uncle Sam is your favorite uncle, don't be giving him extra money all year round!