Melt a good knob of butter (perhaps 50g or half a stick) in a large saucepan. Sauté the shallots very gently in the butter for a minute or two, taking care not to brown the butter or the shallots.

Turn the flame up to medium. Add the rice and let it "toast" for a couple of minutes, then add a glass of champagne. Let the champagne evaporate.

Now add a ladleful of broth to the rice. Simmer over medium heat, stirring from time to time, until the broth has been absorbed by the rice. Add another ladleful of broth and repeat for a total of 18 minutes or so. The rice is done when it's still al dente but without any chalkiness in the center.

When the rice is almost done, add a second glass of champagne and let it evaporate—only partially, like me, you like your risotto quite loose.

Off heat, add the Parmigiano-Reggiano and, if you like, another knob of butter to the rice. Stir vigorously for 30 seconds or so, until the cheese and butter have melted and the rice has developed a nice, creamy texture.

Serve and eat your Champagne Risotto immediately, preferably by candlelight.