Minister McGrath publishes second three-month assessment of the Temporary Business Energy Support Scheme
Foilsithe
An t-eolas is déanaí
Teanga: Níl leagan Gaeilge den mhír seo ar fáil.
Foilsithe
An t-eolas is déanaí
Teanga: Níl leagan Gaeilge den mhír seo ar fáil.
The Minister for Finance Michael McGrath has today published the second three-month assessment of the Temporary Business Energy Support Scheme (TBESS). The first assessment of the TBESS was published on 28 January 2023. The TBESS was introduced to support qualifying businesses with increases in their electricity and natural gas (energy) costs over the winter months.
The legislation introducing the TBESS is contained in Sections 100 to 102 of Finance Act 2022. Section 100 requires that an assessment of relevant matters in relation to the scheme be carried out at intervals of not less than every three months beginning on 20 October 2022.
The assessment published today has been undertaken by the Department of Finance with the assistance of the Department of the Environment, Climate and Communications, and the Revenue Commissioners.
Following the first assessment and further consultation with the Minister for Enterprise, Trade and Employment, the Minister for the Environment, Climate and Communications, and the Minister for Public Expenditure, NDP Delivery and Reform, the Minister for Finance exercised the power contained in the TBESS legislation to:
The increase in the monthly limits took effect from 1 March 2023 in respect of claim periods arising after that date.
In addition to the amendments provided by Ministerial Order, the government decided, as part of a package of cost of living measures at the end of February, to make a number of additional enhancements to the scheme as part of Finance Bill 2023. The enhancements are:
Speaking today, Minister McGrath said:
“This second assessment of TBESS contains up-to-date data on the trajectory of energy prices, the impact from, and effects of, energy prices on the economy as well as other relevant issues relating to the operation to the scheme.
"As of 27 April, 28,313 businesses have registered for the scheme. 37,142 claims have been approved with a value of €81.4 million of which €74.2 million has been paid out.
"I have already extended the scheme to the end of April, and following enactment of Finance Bill 2023, the scheme will be further extended to the end of May. It will also be further enhanced so as to allow more businesses to avail of the scheme and to give them increased relief which I am confident will help them to mitigate the worst effects of the energy crisis.”
Businesses can find more information about the TBESS on the Revenue website and can register for and make a claim under the scheme using Revenue’s Online Service (ROS).