EU signs off on scheme to cover rising energy bills for businesses

Eligible businesses can receive payments by the end of the year

The support is capped at €10,000 per month but this can be increased to €30,000 for companies which operate from different locations.

Businesses can begin applying for new financial supports to cover their soaring energy bills from tomorrow after the European Commission signed off on the budget plan.

Revenue will begin accepting applications under the Temporary Business Energy Support Scheme (TBESS) which will see the Government cover 40% of the increase in their bills which have placed firms across the country under major strain.