Temporary Business Energy Support Scheme extended to 30 April
The Temporary Business Energy Support Scheme (TBESS) has been extended from 28 February to 30 April, as the impact of high energy costs continues to be felt by businesses across the country.
There has also been an increase the monthly limit on aid under the scheme to €15,000 per qualifying business, subject to an overall cap of €45,000 in cases where a business is carried on from more than one location.
TBESS is a support available to tax compliant businesses experiencing increases in electricity or natural gas costs. The scheme operates on a self-assessment basis and is being administered by the Revenue Commissioners.
Additional changes to the Scheme have been announced by Minister for Finance, Michael McGrath, however they remain subject to State aid approval.
Under the proposed changes, there will be a reduction of the energy costs threshold for qualification for the scheme from a 50% increase in energy costs, to a 30% increase.
Following receipt of State aid approval, Revenue will determine an appropriate date to automatically reassess claims already submitted relating to the period from 1 September 2022 to 28 February 2023 which did not meet the original 50% energy cost threshold and calculate any payments due to businesses on the basis of the revised threshold.
This means that it will not be necessary for businesses to revise their claims already submitted to take account of the revised qualification threshold of 30%.
Eligible businesses are therefore encouraged to continue making claims for the period from 1 September 2022 to 28 February 2023 via the eRepayments system on Revenue’s Online Service (ROS).
As of 1 March, more than 25,400 businesses have registered for the TBESS and over 23,800 claims have already been approved. These approved claims have a value of €51.65 million.
The facility to make claims in relation to energy bills covering claim periods from 1 March will open in due course. Revenue will issue a further update when the claim portal opens for this period.