Finance Act 2022 section 100

Objectives of the Temporary Business Energy Support Scheme and the Minister for Finance's oversight duties

Section 100 sets out the objectives and purposes of the Temporary Business Energy Support Scheme (TBESS) established by section 101, and defines the Minister for Finance's duties in monitoring the scheme and power to amend key parameters by order.

• The TBESS aims to mitigate the impact of exceptionally high global energy prices on the economy, consistent with the EU Temporary Crisis Framework.
• The Minister for Finance must, in consultation with other Ministers, monitor the scheme and carry out assessments at least every three months (starting from 20 October 2022), reviewing fiscal data, energy price trends, Live Register data, and other relevant economic information.
• Following each assessment, the Minister may, if necessary, make orders (subject to Dáil Éireann approval) to extend the scheme's end date beyond 28 February 2023 (but no later than 30 April 2023) and to adjust the monetary amounts used in the scheme's payment formula upwards or downwards.
• Any such order must be laid before Dáil Éireann in draft form and cannot take effect until approved by resolution of that House.