Dáil Éireann Debate, Wednesday - 24 March 2021
258. Deputy Pauline Tully asked the Minister for the Environment, Climate and Communications the full-year additional yield generated from a 2 cent increase in the National Oil Reserves Agency levy; and if he will make a statement on the matter. [15730/21]
View answerIn 2020, the NORA levy of 2c per litre on most oil products placed on the market, yielded a levy income of approximately €120m. This income was reduced somewhat when compared to the 2019 income level of approximately €133m, caused by a decrease in petroleum product consumption due to Covid-19.
An increase in the rate of the levy from 2c to 4c, per litre of product placed on the market, would be expected to yield additional levy income in the region of €125-€130m per annum, depending on the level of petroleum product consumption in future years.
