The Department of Enterprise, Trade and Employment’s Budget package is designed to help businesses of all sizes with their rising energy costs and to make them more sustainable through longer and medium-term investments.
This support is being delivered through five new targeted energy supports schemes:
Businesses may be eligible for more than one scheme.
While the schemes are currently in development, you’ll find more detail below about their eligibility criteria and how they will be administered. The schemes will be publicised when they are open for applications in the coming months. For full details on supports for SMEs click here.
€1.25 billion Temporary Business Energy Support Scheme (TBESS)
The Temporary Business Energy Support Scheme (TBESS) (revenue.ie) will assist businesses with their electricity or natural gas (energy) costs during the winter months. The scheme will be open to businesses that:
- are tax compliant
- carry on a Case I trade or Case II profession (including certain charities and approved sporting bodies in relation to certain income)
- have experienced a significant increase of 50% or more in their natural gas and electricity average unit price between the relevant bill period in 2022 and the corresponding reference period in 2021
Revenue will administer the scheme, which is being designed to be compliant with the European Union (EU) State Aid Temporary Crisis Framework. This means that EU Commission approval will be required for the scheme before any payments can be made to businesses.
A claim period is a calendar month from September 2022 to February 2023. A reference period is the corresponding calendar month in the previous year. For example, September 2021 is the reference period for the September 2022 claim period.
The portal for registration is now open on the Revenue Online Services (ROS).
To apply for the TBESS, claims must be made through Revenue’s Online Services (ROS), following these steps:
When registering for the TBESS, the business is asked to acknowledge a request to take steps to understand and reduce its energy use by completing the Climate Toolkit 4 Business. The completion of the Climate Toolkit 4 Business is not a legal requirement and will have no impact on the assessment of a business’ eligibility for the TBESS.
Electric Ireland has a good summary of access to the scheme here.
Small Firms Investment in Energy Efficiency Scheme
The Small Firms Investment in Energy Efficiency Scheme will provide a grant through the Local Enterprise Office (LEO) network to companies to encourage investment in energy efficiency technologies or processes that reduce carbon emissions and overall energy costs. The scheme will follow on from the LEO Green for Micro Scheme which currently provides advice and technical support to firms on energy efficiency and reducing their carbon footprint. The new scheme will open in 2023 and will be administered by the Local Enterprise Offices.
€1.2 billion Ukraine Credit Guarantee Scheme
The State-backed Ukraine Credit Guarantee Scheme will provide low-cost working capital or medium-term investment, especially in energy saving measures to SMEs, primary producers and small mid-caps (businesses with fewer than 500 employees). Loans of up to 6 years will be available, from €10,000 to €1 million, with no collateral required for loans up to €250,000. The scheme will be operated by the Strategic Banking Corporation of Ireland (SBCI) and loans will be provided by finance providers from the private sector including banks, non-banks and credit unions.
€500 million Growth and Sustainability Loan Scheme
The Growth and Sustainability Loan Scheme (GSLS) will make up to €500 million in low-cost investment loans of up to 10 years available to SMEs, including farmers and fishers and small mid-caps, with no collateral required for loans up to €500,000. A minimum of 30% of the lending volume will be targeted towards environmental sustainability. 70% of lending will be for strategic investments with a view to increasing productivity and competitiveness and thus underpinning future business sustainability and growth. The scheme will be operated by the SBCI and participating finance providers. It is anticipated that it will be launched in the market in the first half of 2023. Find out more here.
Starting your Energy Efficiency Journey
There are a number of government supports and resources available to help businesses mitigate the impact of energy price rises and become more energy efficient – whether you are beginning your journey to sustainability or at an advanced stage, find out more here.
Climate Toolkit 4 Business
Climate change is here, and its effects are devastating. We urgently need to adapt in order to reduce our contribution to greenhouse gas emissions (GHGs) and prepare for a better future. Small businesses have a big part to play. From the products we purchase, to the energy we use, and services we require, there are many ways to make a difference.
The Irish Government have developed a Climate Toolkit 4 Business that provides practical and cost-effective actions that every business can take to support this transformation and build resilience.
Building sustainability into your business is critical because:
- It matters to your customers.
Customers are looking for providers that are sustainable. You add value to your product or service by reducing its carbon impact. Customers value transparency: robustly measuring and demonstrating your emissions is good business practice.
- It matters to your staff.
Attracting and retaining talent depends on matching their values and expectations. Being a sustainable, environmentally conscious employer will motivate and engage your teams, while developing the skills and knowledge your company needs.
- It can help your ‘bottom line’.
Efficiency in how your business uses material and energy resources is important. Making your business more resource efficient or providing new sustainable products or services can be cost-efficient and profitable too.
- It makes your business more resilient.
Long-term business success depends on adapting to market changes. The transition to low carbon will shape our economy in the next decade. Preparing now to thrive in this transition gives you a competitive advantage.
Learn more about climate change here.