More than 500 Cavan businesses apply for energy support

More than 500 applications have been received by the Department for Finance from hard-pressed Cavan businesses struggling to pay energy costs.

Of the 519 applications received up to February 15, according to figures released by the Department, a total of 507 have been processed to the value of €864,788.

The Temporary Business Energy Support Scheme (TBESS) provides support to qualifying businesses in respect of energy costs relating to the period between September 1, 2022, to the end of last month, February 28, 2023.

TBESS is available to eligible tax compliant businesses carrying on a trade or profession. Qualifying businesses can claim for 40% of the increases in their energy bills between the ‘claim period’ and the ‘reference period’.

Payments are subject to a monthly cap of €10,000 per trade or profession.

By comparison, 513 out of 523 applications have been processed from neighbouring Monaghan, valued at €837,194.

Elsewhere, all but five of 198 applications valued at €185,155 have been processed from businesses located in Leitrim; 237 out of 243 (€302,425) in Longford, and 861 out of 871 (€1,595,356) in Meath.