In response to rising energy prices as a result of the ongoing conflict in the Middle East, the Government has introduced two packages of measures to help allay price pressures on households and businesses. The overall package is one of the most comprehensive in Europe.
The estimated cost of each measure announced as part of the initial energy package in March is outlined in the table below:
|
Intervention
|
Cost (€ millions)
|
|
Mineral Oil Tax Reductions (-20c auto diesel, -15c petrol, - 3c MGO from 25 March to 31 May)
|
150
|
|
Diesel Rebate Scheme Maximum Rate Increase from 7.5c to 12c per litre (Q1 & Q2)
|
10
|
|
NORA Reduction (April & May)
|
20
|
|
Fuel Allowance Extension (4 weeks)
|
70
|
|
Total
|
250
|
The estimated cost associated of measures announced on 12 April is set out below:
|
Intervention
|
Cost (€ millions)
|
|
Further Mineral Oil Tax Reductions (-10c auto-diesel/petrol, -2.4c MGO)
|
121
|
|
Extension of March Mineral Oil Tax Reductions Extension (from 1 June to 31 July)
|
139
|
|
Deferral of 1 May Carbon Tax Increase until 14 October
|
22
|
|
NORA Reduction Extension (June & July)
|
20
|
|
Road Transporters Support Scheme (RTSS) - D/Transport
|
120
|
|
Fuel Support Scheme (FSS) - D/AFM
|
100
|
|
Total
|
522
|