Fossil fuel subsidies amounted to €2.2 billion in 2020, according to figures published today by the Central Statistics Office.
This is down from €2.8 billion in 2019, mainly due to fewer people flying. Environmental subsidies aimed at reducing fossil fuel use amounted to €400,000 in 2020, unchanged from 2019.
A total of €2.8 billion was collected in energy taxes in 2020, down from €3 billion in 2019. Fossil fuel subsidies are calculated based on tax revenue that would otherwise have been collected were it not for exemptions as well as direct fuel subsidies.
Direct fossil fuel subsidies came to €288m and accounted for 13% of subsidies. Indirect subsidies, which is tax foregone, were €1.9 billion or 87% of subsidies.