We have something like this on the Longford line too: most of the time when I go to Dublin City it's in the late morning or noon-time, and I get the roundtrip for €12. Train usually has a respectable load, but is never really full. Usually get the last train back as well, at 19:05 and that too is rather similar in terms of usage.
This is what we need more of - and I feel rather strongly about this - travel on off peak trains being offered cheaply in a simple, flexible, easy to understand and easy to obtain fashion. It's why I love the ticketing laws of New York's Metro North Railroad so much.
It could go further such as having against-peak discounts (leaving Dublin (or Cork as the case may be down South) in the early morning, going to Dublin in the evening, as well as special fares on some lightly used weekend trains), but this is a good start.
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