Businesses that have opened in the last year will be able to avail of an energy grant scheme that was initially limited to those that had been established for longer, Minister for Finance Paschal Donohoe said on Tuesday.
The Government introduced the €1.25 billion scheme in last month’s budget, providing businesses such as hotels, shops, and restaurants with up to 40 percent of the increase in electricity or gas bills if those costs have risen by over 50 percent year-on-year.
Donohoe stated that a new procedure to assist newly established firms will be incorporated in the legislation supporting the budget to allow them access to the scheme while not putting them at a competitive disadvantage.
He said that the legislation, which is set to be published on Thursday, will also expand the plan, which is capped at €10,000 per month and is set to continue until February, to some professional services.
Eligible enterprises must demonstrate a 50% or more increase in their average energy unit price this year compared to the same time in 2021.
The scheme will operate until at least February 2023, with payments backdated to September, when it was launched.