Brian Keegan: Firms should now apply for temporary business energy support scheme

The delay while Ireland waited for the EU to approve this key energy subsidy is a cost of international co-operation — but it's important to also notice the benefits of abiding by those rules

Businesses affected by surging energy costs can now apply for the TBESS that was promised in Budget 2023. Stock picture

The European Commission last week gave its approval to the Government’s temporary business energy support scheme, the major measure in Budget 2023 that set aside a reservoir of €1.2bn for energy bill subsidies. The European approval means that the taps can be opened on this much-needed support.

The reason European approval was needed in the first instance is because of the infamous state aid rules. These provide that an EU member country cannot give companies within their territories any support which might confer an unfair advantage over a similar operation in another EU country.