Temporary Business Energy Support Scheme

The Temporary Business Energy Support Scheme will assist businesses with their electricity or natural gas (energy) costs during the winter months and the scheme is open for registrations from Saturday 26 November 2022.

The scheme applies to persons that carry on a trade or profession, including self-employed individuals, companies and partnerships. In order to avail of the scheme a business must:

• be tax compliant;

• carry on a Case I trade or Case II profession (including certain charities and approved sporting bodies in relation to certain income); and

• have experienced a significant increase of 50 per cent or more in their natural gas and electricity average unit price between the relevant bill period in 2022 and the corresponding reference period in 2021.
  

A qualifying business is entitled to claim a Temporary Business Energy Payment (TBEP) amounting to 40% of its eligible cost. This is calculated as 40% of the increase in electricity or natural gas costs in accordance with the relevant formulae in the Bill (subject to a cap for each monthly claim period).

Businesses will be able to use the online system to submit claims under the scheme from 5 December 2022 and payments under the scheme will be made once the Finance Bill, which contains the legislation underpinning the scheme, is enacted later in December.

A claim for a TBEP must be made within 4 months of the end of the claim period to which a particular electricity or natural gas bill relates.

If you would like to discuss the scheme in further detail and how your business might potentially avail of the scheme, please do not hesitate to contact us.