Dáil Éireann Debate, Thursday - 13 October 2022
211. Deputy Bríd Smith asked the Minister for Finance if the names of the companies that access the temporary business energy support scheme will be published by his Department; the timeframe for same; and if he will make a statement on the matter. [50800/22]
View answerI indicated in my Budget speech that I would be introducing a Temporary Business Energy Support scheme (TBESS) to assist businesses with their energy costs over the winter months. The scheme is being designed to be compliant with the EU state aid temporary crisis framework and will need to be approved by the EU Commission in advance of making payments. This framework provides for the publication of certain information about recipients.
The TBESS will be open to businesses that carry on a Case I trade, are tax compliant and have experienced a significant increase in their natural gas and electricity costs. The scheme will be administered by the Revenue Commissioners and will operate on a self-assessment basis. It is proposed that the scheme will operate by comparing the average unit price for the relevant bill period in 2022 with the average unit price in the corresponding reference period in 2021. If the increase in average unit price is more than 50% then the threshold has passed and the business is eligible for support under the scheme. A business who has not seen an increase of 50% over the period will not be eligible for the scheme. Once eligibility criteria are met, the support for businesses will be calculated on the basis of 40% of the amount of the increase in the bill amount. A monthly cap of €10,000 per trade will apply and an overall cap will apply on the total amount a business can claim in accordance with the State Aid Temporary Crisis Framework.
Where a business meets all of the criteria for the scheme, they may apply for support under the scheme subject to the applicable caps.
The operational details of the scheme are being worked through by officials and will be available soon.
