Almost €1 million paid to Laois businesses under energy scheme

Almost one million euro has been paid out under the business energy support scheme in Laois. 

Laois Offaly TD Barry Cowen asked Minister for Finance, Michael McGrath how many businesses in Offaly, Laois, Longford and Westmeath benefitted from the Government’s Temporary Business Energy Support Scheme.

Replying to the Parliamentary Question, Minister for Finance Michael McGrath said the Temporary Business Energy Support Scheme (TBESS) was introduced to support qualifying businesses with increases in their electricity or natural gas costs arising from Russia’s invasion of Ukraine.

“The scheme provides support to qualifying businesses in respect of energy costs relating to the period from 1 September 2022 to 30 April 2023. The TBESS is available to eligible tax compliant businesses carrying on a trade or profession, “ explained Minister McGrath. 

In Laois some 412 businesses applied under the scheme. Of these 407 were successful and to date €1.03 million has been approved of which €950,000 has been paid out. 

In Offaly, of the 449 businesses who applied, 444 were approved and have so far drawn down €910,000 of an approved €950,000. 

“For claim periods falling between September 2022 and February 2023, qualifying businesses can claim for 40% of the increases in their energy bills when compared to their bills for the reference period which is the corresponding calendar month in the previous year.

As part of enhancements to the scheme that are provided for in Finance Bill 2023 the level of relief increases from 40% of the uplift in energy cost to 50% from 1 March 2023, subject to the relevant monthly caps contained in the legislation. In addition Finance Bill 2023 reduces the entry threshold for the scheme from a 50% increase in average unit price to a 30% increase. The scheme will also be extended to 31 May 2023,” said Minister McGrath. 

Pictured above: A breakdown of the payments as of May 4, 2023

Businesses which are eligible for TBESS can register for the scheme via Revenue’s online service and comprehensive guidelines on the operation of the scheme are available on the Revenue website.