Dáil Éireann Debate, Tuesday - 20 September 2022
224. Deputy Richard Boyd Barrett asked the Minister for Finance the amount of excise duty that would be foregone if energy prices were capped as follows: Petrol at €1.75 per litre; Diesel at €1.75 per litre; Electricity at 25c per kilowatt hour; Natural Gas at 8c per kilowatt hour; Oil (kerosene) at €1 per litre. [45818/22]
View answerI am advised by Revenue that excise duties levied on mineral oils, electricity and natural gas are not an ad-valorem tax. Mineral Oil Tax, Electricity Tax and Natural Gas Carbon Tax are specific taxes determined on the volumes supplied not on sales prices. In this regard, capping energy prices, as described by the Deputy, in respect of petrol, diesel, electricity, natural gas and oil (kerosene) would not result in any excise loss to the Exchequer.
