Cavan firms get over €3m in Energy Supports

Almost 700 Cavan companies benefited to the tune of over €3 million under the Temporary Business Energy Support Scheme (TBESS), introduced to support struggling businesses with to cope with increases in electricity or natural gas costs arising from the Russian invasion of Ukraine.

Over €145 million has been paid out to 31,309 businesses across the country under the scheme, which fell within the terms of the EU Temporary Crisis and Transition Framework and ran from September 1, 2022, to July 31, 2023.

Qualifying businesses could claim for 40% of the increases in their energy bills between the ‘claim period’ and the ‘reference period’.

The final deadline for eligible businesses to submit claims for relief was the end of September last.

The scheme is now closed.

The number of hard-pressed local businesses making successful claims under the scheme has risen considerably since earlier this year when just over 500 applications had been received by the Department for Finance to a value of €864,788.

By comparison a little over €600,000 in claims were approved to be paid to 264 registered businesses in Leitrim; €1.35m to 312 firms in Longford; €5.18m to 1,122 in Meath; and €2.7m to 643 in Monaghan.