Over €1m paid to Westmeath businesses to help with rising energy costs

More than €1 million has been paid to Westmeath businesses under the government's Temporary Business Energy Support Scheme (TBESS) to help with rising energy costs.

A total of 557 claims worth a total of €1.06 million were approved under the scheme as of March 1.

The government introduced TBESS last September to assist qualifying businesses with increased energy costs over the winter months.

The scheme was due to come to an end on April 31 but it has been extended as part of the government’s latest euro cost-of-living support package.

Finance Minister Michael McGrath informed Deputy Robert Troy of the latest figures in response to a parliamentary question in the Dáil last week.

Mr McGrath said there were 570 registrations under the scheme as of March 1, of which 557 has been approved.

Deputy Troy said: “I’m delighted that more than €1 million has been paid to Westmeath businesses under TBESS. This a hugely importance support scheme for businesses who are trying to get to grips with the energy price hikes.

“The latest changes to the qualifying criteria for TBESS mean that more businesses are now eligible for the support. The threshold for qualification has been reduced from a 50% increase in electricity prices to a 30% increase. In addition, as of March 1, the level of relief has increased from 40% to 50% of eligible costs subject to a monthly limit of €15,000 per month.

“I would encourage all businesses who meet the criteria to apply for these very beneficial payments.”