Saturday 22 June 2024
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Tánaiste and Minister Donohoe Welcome State Aid Approval for the Temporary Business Energy Support Scheme

Tánaiste and Minister Donohoe Welcome State Aid Approval for the Temporary Business Energy Support Scheme

The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, and the Minister for Finance, Paschal Donohoe, have today (Friday) welcomed the European Commission State aid approval for the Temporary Business Energy Support Scheme (TBESS).

The TBESS, as announced on Budget day, will assist businesses with their energy costs during the winter months. The scheme will be administered by the Revenue Commissioners.

The approval by the European Commission means that Revenue can proceed with opening the TBESS online system for registrations on Saturday 26 November. Businesses will then use the system to submit claims under the scheme from 5 December.

Payments under the scheme will be made once Finance Bill 2022, which contains the legislation underpinning the scheme, is enacted later in December.

Revenue recently published detailed guidelines on the operation of the scheme. These guidelines will be updated today (Friday), setting out further details regarding how businesses can register for and make claims under the scheme using the Revenue Online Service.

Tánaiste Leo Varadkar said:

“This Scheme is so important to so many businesses struggling to pay astronomical gas and electricity bills.

“My government colleagues and I have been hearing from businesses all around the country about how much they really need this money – and we want to get it to them as soon as possible – ideally before Christmas.

“So I urge businesses owners and managers – have your bills ready, have your tax clearance certs ready, and make sure that your claim can be processed by Revenue without any undue delay.

“The scheme will open for registration this Saturday and then for claims on 5 December.”

Speaking today, Minister Donohoe said:

“TBESS is the largest single item announced as part of Budget 2023, the government’s cost of living budget that will help individuals, families and businesses deal with rising prices.

“The scheme will provide much needed support to thousands of businesses across the country who are experiencing a material shock to the price of their energy inputs.

“The approval by the European Commission paves the way for Revenue to open the online system for registrations for the scheme on 26 November, and to accept claims under the scheme from 5 December. Businesses will start to receive payments under the scheme as soon as the Finance Bill is enacted later in December.”