Registration opened on Nov 26th 2022 for the Temporary Business Energy Support Scheme (TBESS), which will assist Irish businesses with their energy costs during the winter months.
The €1.2 billion scheme, which will be administered by Revenue, received approval from the European Commission yesterday. Businesses will be able to use the online system to submit claims under the scheme from 5 December. Payments under the scheme will be made once the Finance Bill, which contains the legislation underpinning the scheme, is enacted later in December.
Qualifying businesses, who have seen their energy bills jump as a result of soaring wholesale prices caused by the war in Ukraine, will receive aid in the form of direct grants and can get up to 40% of the additional costs they are facing.
To qualify businesses must demonstrate that their average monthly unit price for either electricity or gas has increased by at least 50%, compared to the average unit price for the same month in the previous year.
Click through to download more information: Temporary Business Energy Support Scheme (pdf)