In 2023, the tax expenditure on natural gas for residential use in the UK was approximately 3.96 billion USD. The forecast from 2024 to 2028 shows a marginal decline, with the value decreasing from 3.86 billion USD in 2024 to 3.47 billion USD in 2028. Year-on-year, the tax expenditure decreases by about 2.6%, indicating a consistent downward trend. The compound annual growth rate (CAGR) over this period is expected to be -2.4%, reflecting a steady reduction in tax expenditure on residential natural gas over five years.
Future trends to watch include potential policy changes aimed at supporting renewable energy, which may further impact tax expenditures on natural gas. Additionally, fluctuations in natural gas markets and evolving energy consumption patterns due to innovations in energy efficiency could influence these forecasts.
