John Lahart
Question:99. Deputy John Lahart asked the Minister for Climate, Energy and the Environment his plans for a further reduction in the NORA levy; and if he will make a statement on the matter. [27350/26]
View answerThursday, 16 April 2026
Questions (99)
Written answers
The National Oil Reserves Agency (Amendment) Act 2026 provides for a reduction in the Petroleum Product Levy, more commonly known as the NORA Levy. The NORA levy is a charge of 2 cent per litre applied to most petroleum products sold in the market, for the purpose of funding the operations of the National Oil Reserves Agency and the Climate Action Fund. The levy has been reduced to a nominal amount, with the reduction coming into effect from 1 April 2026, and will be kept in place until 31 July 2026.
The reduction in the NORA levy for a four-month period is estimated to result in a reduction of levy income accruing to NORA of c.€40m.
This levy reduction will assist in easing the financial impact of energy price inflation.
It should be noted that NORA has a significant financial reserve and that this temporary levy reduction will not impact on its ability to carry out its functions.
As the Deputy is aware, NORA has operational responsibility for the day-to-day management of the State’s Strategic Oil Reserve of 85 days of oil stocks. Stock may be released from Ireland’s stockholding in the event of a shortage of refined product on the domestic market, or as recently happened to participate in an International Energy Agency collective action, to alleviate a global oil shortage.