Written answers
Wednesday, 24 March 2021
Department of Communications, Climate Action and Environment
National Oil Reserves Agency
Pauline Tully (Cavan-Monaghan, Sinn Fein)
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258. To ask the Minister for Communications, Climate Action and Environment 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]
Eamon Ryan (Dublin Bay South, Green Party)
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In 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.
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