The Irish government has approved €9.5 million for payment under the Temporary Business Energy Support Scheme (TBESS).

The €1.3 billion TBESS 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.

Urging businesses to make claims, Minister for Finance Michael McGrath TD said: "10,773 businesses have registered for the scheme which is encouraging, but we want to see every eligible business doing so. TBESS is one of a number of measures introduced to help businesses mitigate against rising energy costs."

Minister for Enterprise, Trade and Employment Simon Coveney TD, commented: "This Scheme is open to all businesses, including sporting bodies and charities, who are tax compliant. So far 4,392 claims have been approved under the scheme to the value of €9.5 million, with €9 million already paid out. 

-- Advertisement --

"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."

Businesses should be aware that the window for September claims will close at the end of this month. Claims from October onwards can be made after this point within the monthly deadlines.

Minister for the Environment, Climate and Communications, Eamon Ryan TD added: "Electricity and gas prices remain at very high levels due to international conditions, in particular the continuing challenges arising from the crisis in Ukraine, and indications are that this trend will continue for the foreseeable future. 

"TBESS provides significant support for a wide range of businesses. Our objective is clear, namely, to support businesses through this unprecedented period in the same way as householders. 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."