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T. Conefrey, J. Fitz Gerald and I. Kearney, 2010, “Recovery Scenarios for Ireland: An Update” in ESRI Quarterly Economic Commentary, Summer, Dublin: Economic and Social Research Institute. CEC, 2008. Energy Efficiency: Delivering the 20% Target, Communication from the Commission COM (2008) 772 final, Commission of the European Communities, Brussels. CER and NIAUR, 2008 “Impact of high levels of wind penetration in 2020 on the Single Electricity Market (SEM)”. , J. Fitz Gerald, L. J. Tol, 2008.

Competitiveness | 25 Public ownership of network industries has the advantage of increased flexibility. Where they are in private ownership it may prove difficult to provide in advance for all eventualities. For example, the contract for the M50 Westlink bridge looked acceptable when it was written in the late 1980s but it proved very inflexible and costly to change to deal with unexpectedly rapid growth in the 1990s. A possible downside from public ownership is that such companies may permit the employees to capture some of the monopoly rents inherent in the networks through excessive staffing or remuneration.

S. Diffney, J. Fitz Gerald, L. Malaguzzi Valeri and A. Touhy, 2011a. ”, ESRI, forthcoming. Devitt, C. and L. Malaguzzi Valeri, 2011b. “The effect of REFIT on Irish electricity prices”, ESRI Working Paper 374, Dublin: Economic and Social Research Institute. , S. Lyons and L. Malaguzzi Valeri, 2009a. “Advertising to boost energy efficiency: the Power of One campaign and natural gas consumption” ESRI Working Paper 280, Dublin: Economic and Social Research Institute. , J. Fitz Gerald, S. Lyons, and L.

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