The Temporary Business Energy Support Scheme (TBESS) was introduced to support qualifying businesses with increases in their electricity or natural gas costs over the winter months. Ireland received State Aid approval from the EU Commission for the TBESS scheme under the Temporary Crisis Framework for State Aid measures to support the economy following the aggression against Ukraine by Russia.
The aid was granted based on the parameters which are set out in the TBESS legislation contained in Finance Act 2022. These parameters are that businesses must have experienced increases of at least 50% in the average unit price of electricity or natural gas for claim period (calendar month) when compared to the same month in the previous year, and that such qualifying businesses would be eligible for aid equal to 40% of the increase in costs over the same period.
The scheme provides support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 28 February 2023. The TBESS is available to eligible tax compliant businesses carrying on a trade or profession, the profits of which are chargeable to tax under Case I or Case II of Schedule D.
The TBESS is currently due to expire at the end of February and, in that context, I am currently examining the rules and operation of the scheme.
