129 billion in excise taxes on energy sources filled the state budget
At the same time, despite the positive dynamics, revenues have not yet reached pre-war levels - in 2021, the state budget received UAH 134.74 billion from the energy sector
In 2024, the State Budget of Ukraine received UAH 129.44 billion from the energy sector, two-thirds of which, or UAH 86.38 billion, came from excise tax, and another UAH 43.06 billion from rent. This is reported by the analytical center of the NGO “DIXI GROUP”.
Experts from DIXI GROUP emphasize that last year, energy taxes accounted for 4.1% of the total state budget revenues. For comparison, in 2023, UAH 114.73 billion or 4.3% of total revenues were directed to the state budget.
It is noted that, according to the calculations of analysts of the open data portal Energy Map, compared to 2023, revenues from the energy sector increased by 13% or by UAH 14.71 billion. This is the second consecutive year since the start of the full-scale war, when budget revenues from the energy sector have been growing. At the same time, even despite the positive dynamics, revenues have not yet reached the pre-war level - in 2021, the state budget received UAH 134.74 billion from the energy sector.
The growth in revenues in 2024 is due to the gradual restoration of pre-war excise rates on gasoline, diesel fuel and liquefied gas, as well as their further increase in the second half of the year (the first stage within the framework of a gradual increase in the excise tax on fuel to the minimum level established in the European Union). At the same time, revenues from the sale of fuel produced in Ukraine decreased by UAH 0.46 billion or 4% over the year, which may be explained by a decrease in fuel production by mini-refineries.
Payers of excise tax on fuel in 2024 transferred the largest amount: UAH 66.29 billion for fuel supplied from abroad, and UAH 10.78 billion for fuel produced in Ukraine.
UAH 8.43 billion in excise tax was paid for electricity produced in Ukraine, and another UAH 0.87 billion for electricity supplied to Ukraine.
For the extraction of energy resources in the form of a rent for the use of subsoil, the state budget received UAH 42.05 billion: 69% for the extraction of natural gas (UAH 28.94 billion), 21% for oil (UAH 8.89 billion), 9% for gas condensate (UAH 3.84 billion) and 1% for coal (UAH 0.38 billion). The rent for the transportation of oil and petroleum products through oil pipelines amounted to UAH 0.76 billion, and another UAH 0.18 billion was a fee for the use of water for the needs of hydropower.
Revenues from excise tax on electricity in 2024 increased for both domestically produced and imported electricity. For electricity produced in Ukraine, the increase of UAH 1.69 billion (+25%) was mainly due to the increase in prices. Thus, the weighted average price on the “day-ahead” market in 2024 was UAH 4,878.1/MWh (excluding VAT), which is 35% more compared to 2023 (UAH 3,617.6/MWh).
Regarding electricity purchased from abroad, revenues increased by UAH 0.69 billion or 379%, which is mainly explained by a 5.5-fold increase in import volumes - 4,436.6 thousand MWh in 2024 versus 806.4 thousand MWh in 2023. This increase is due to the need to cover the electricity deficit due to large-scale damage to Ukrainian energy infrastructure as a result of Russian attacks.
The largest decline over the year was seen in revenues from rent for natural gas production (a decrease of UAH 12.3 billion or 30%). Among the reasons is the decrease in the actual selling price of natural gas, from which the rent for its production is calculated.
READ ALSO: Summer without outages: DiXi Group predicts the energy situation in Ukraine
