Mr. Fintan Slye:

Could I just aggregate the question slightly? The case for interconnection will have to stand on its own. It is a single investment in a single piece of infrastructure and it is a big pricetag.

The other part of the Deputy's question concerns energy policy. With the 40% target, for example, and that level of renewable generation, what will be the impact upon electricity prices in, say, ten years' time? A detailed analysis of that has been done. It is currently being finalised by the Department of Communications, Energy and Natural Resources. We provided some modelling expertise for it. The SEAI, ourselves and one other party were involved. They are finalising that study and, as I understand it, they hope to publish it soon. That specifically examines the question the Deputy is getting at in terms of going to the 2020 target of 40% renewables in electricity and the net costs and benefits, versus a system that, for example, keeps today's levels, which are about 20%. That study gets to the heart of the Deputy's question.

It has not yet been published, although I understand it is being finalised.

Interconnectors tend to increase the value of the renewable resource because at times of high wind and low demand when it cannot be used, they provide a market into which one can sell and obtain some value. As I indicated, an interconnector represents a very large investment in a single piece of infrastructure and the business case for it would have to stack up and be rigorously analysed on both sides. This means that the French and Irish sides would have to come together to undertake the analysis. That may be an issue that is slightly separate from the question the Deputy asked.