Questions and Answers

What are the changes to the Temporary Business Energy Support Scheme (TBESS)?

I heard there were changes to the TBESS announced. What are they?

The Temporary Energy Support Scheme (TBESS) was announced in Budget 2023 to help businesses mitigate the impact of rising energy costs and it opened for claims in December.

It was announced this week that the scheme, originally due to expire at the end of March, is now extended until 30 April 2023. However approval is expected to be granted which will extend the scheme by another month, to 31 May 2023.

To reduce red tape, and increase the attractiveness of this scheme, the Government have also announced some changes.

From 01 March there 2 major changes to the TBESS:

The scheme will now pay eligible businesses up to 50% of the increased cost of electricity or gas bills (increased from 40%), subject to a limit of €15,000 per premises per month (increased from €10,000).
Up until now, companies had to show a 50% increase in bills year-on-year. Businesses that have seen their bills increase by 30% compared to previous year’s levels will now qualify.

These changes are subject to government approval and we will publish further information on these updates once they are available.

Date published 23 Feb 2023 | Last updated 2 Mar 2023

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

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