Announced as a measure of the cost-of-living budget was the Temporary Business Energy Support Scheme (TBESS). This is a new support for businesses facing rising energy bills. The TBESS will assist businesses with their electricity or natural gas (energy) costs during the winter months.
The scheme is subject to State aid approval under the European Commission’s Temporary Crisis Framework (TCF).
The scheme will be administered by Revenue through Revenue Online Services (ROS) and provides for a cash payment to qualifying businesses. Sections 87 to 89 of the Finance Bill 2022 make provision for the Temporary Business Energy Support Scheme (TBESS).
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