€9.5m has been approved for payment so far under the Government’s €1.3 billion Temporary Business Energy Support Scheme (TBESS).
The scheme was announced as part of Budget 2023 to help businesses cope with the recent rises in energy costs.
It provides qualifying businesses with up to 40% of the increase in electricity or gas bills up to €10,000 per month.
It is administered by Revenue, backdated to September, and will run until at least February 2023.
Minister for Finance Michael McGrath is urging eligible businesses to continue to make claims under the scheme.
Minister McGrath said that many businesses had started the registration process.
“10,773 businesses have registered for the scheme which is encouraging, but we want to see every eligible business doing so,” he said in a statement.
“TBESS is one of a number of measures introduced to help businesses mitigate against rising energy costs,” he added.
Simon Coveney, Minister for Enterprise, Trade and Employment said a range of organisations were eligible to claim.
“This scheme is open to all businesses, including sporting bodies and charities, who are tax compliant,” he explained.
“So far 4,392 claims have been approved under the scheme to the value of €9.5m, with €9m already paid out,” he added.
Minister Coveney said businesses can make a claim under the scheme if they have experienced a significant increase of 50% or more in electricity and or natural gas average unit price.
“We want as many businesses as possible to get their claims in, so I’d encourage them to continue doing so,” he said.
The Government said the window for September claims will close at the end of this month, while claims from October onwards can be made after this point within the monthly deadlines.
Minister for the Environment, Climate and Communications, Eamon Ryan said electricity and gas prices remain at very high levels due to international conditions, in particular the challenges arising from the crisis in Ukraine
Minister Ryan said the indications are that this trend will continue for the foreseeable future.
“Our objective is clear, namely, to support businesses through this unprecedented period in the same way as householders,” he said.
“The €1.3 billion provision for TBESS is generous, is immediately accessible and will be delivered to help cushion the energy shock. I’d like to urge all eligible businesses to submit their claims as early as possible,” he added.
Businesses can register and make a claim under TBESS at revenue.ie.
Article Source: Payments to businesses of €9.5m approved under TBESS so far – RTE