Temporary Business Energy Support Scheme to be introduced & administered by Revenue on a self-assessment basis.
TBESS – Temporary Business Energy Support Scheme, will cover 40% of the increase in electricity or gas bills, up to a maximum of €10,000 per month per business. It will be administered by the Revenue Commissioners, will be backdated to September, run at least to February and is estimated to cost around €1 billion.
TBESS will compare 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 average unit price increases by more than 50%, then the threshold would be passed, and the business would be eligible for support under the scheme. Once eligibility criteria are met, the support will be calculated based on 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 to the total amount a business can claim.
We welcome the intervention in the energy crisis with targeted supports, but we will have to examine the qualifying criteria for the energy support scheme in more detail. Given the high costs being incurred by our members, I do not see this measure on its own being sufficient for the leisure, health and fitness industry who have been crippled by rising costs.