Finance Act 2022 section 101

Temporary Business Energy Support Scheme (TBESS)

Section 101 establishes the Temporary Business Energy Support Scheme (TBESS), which provides financial support to businesses facing significant increases in electricity and natural gas costs during the period from 1 September 2022 to 28 February 2023.

• Eligible businesses (trades, professions, charities and approved sporting bodies — but not banks or financial institutions) can claim 40% of the increase in their energy costs where unit prices have risen by 50% or more compared to the same month one year earlier
• Claims are capped at €10,000 per month per trade or per electricity meter (MPRN), with a maximum of €30,000 per claim period for businesses operating across multiple locations, and overall EU State aid ceilings of €2,000,000 (or lower thresholds for agricultural and fishery activities) apply
• Businesses must be tax compliant, eligible for tax clearance, registered on ROS, and must submit claims within four months of the end of each monthly claim period, with records retained for ten years
• Incorrect or excess claims are recoverable as income tax with interest, penalties may apply for false returns, and Revenue will publish the names and payment amounts of all TBESS recipients on its website

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