Am I too small for the new business energy support scheme?

The finer details of the Temporary Energy Support Scheme for Businesses, announced in Budget 2023,  will be available soon but here is what we know today …

 

To answer your first question - you are not too small to qualify for this scheme. We do know however that you need to fulfil certain other criteria in order to qualify;

 

 

In order to start assessing whether you might qualify we suggest that you retrieve all of your gas and electricity bills for the business. You cannot simply take the bill total for each month and compare it to last year you will need to assess what the unit price is now versus last year. You might find that your bill has more than one unit price in which case an average unit price will need to be calculated. 

 

It seems that the scheme will be backdated to September and will run until at least February. So, if for example your September 2022 bills show a unit price that is 50% higher than September 2021’s you will most likely qualify and will be entitled to a payment equal to 40% of the increase (up to a max of €10,000 per month).

 

The scheme will be administered via Revenue and it is understood that the first payments will go out in November.

 

If you would like more help in assessing your eligibility for this important scheme we can help.

 

Read more about the scheme here