Energy supports for Business (November 2022)

Ukraine Enterprise Crisis Scheme

The Ukraine Enterprise Crisis Scheme offers two streams of support to all manufacturing and Internationally Traded Services companies.

Ukraine Enterprise Crisis Scheme - Stream 1

Stream 1 is a liquidity measure that will help viable manufacturing and Internationally Traded Services companies experiencing trading difficulties to access funding up to €500,000.  To qualify for funding, companies have to demonstrate a 15% reduction in profitability between 2021 and this year, as a direct or indirect result of the crisis resulting from the war in Ukraine. 

This 15% reduction in profit must be minimum €20,000

Next Step – Determine your suitability for this scheme

All businesses should log initial enquires on this scheme should be made via https://www.enterprise-ireland.com/ecs

If your business is determined to be possibly suitable to apply for this scheme Enterprise Ireland will issue you with an application pack via email.

To complete an application for this funding your business must be tax compliant and the application process included the provision of the following documents:

Application Form; Current Mgt Development Accounts; 3 years audited accounts; 2 Year projected Accounts; Confirmation of sales pipeline and Self-declaration regarding of the business completing an energy efficiency plan

Ukraine Enterprise Crisis Scheme - Stream 2

Stream 2 is a state aid support for eligible energy intensive companies who are experiencing severe increases in energy costs in 2022.  Energy intensive businesses are businesses where at least 3% of turnover in 2021 was expended on energy costs. Companies must demonstrate that their unit energy costs at least doubled in 2022, compared to 2021, and they have seen a 15% decrease in profitability.  Then a 30% contribution will apply to any unit energy charges in 2022 that more than double the 2021 cost.

A central Web page www.enterprise-ireland.com/ECS is the starting point for clients and contact details for enquiries relating to the Scheme.

Temporary Business Energy Support Scheme

The Temporary Business Energy Support Scheme (TBESS) (revenue.ie) will assist businesses with their electricity or natural gas (energy) costs during the winter months. The scheme will be open to businesses that:

• are tax compliant
• carry on a Case I trade or Case II profession (including certain charities and approved sporting bodies in relation to certain income) and
• have experienced a significant increase of 50% or more in their natural gas and electricity average unit price between the relevant bill period in 2022 and the corresponding reference period in 2021

More information on your business eligibility and suitability for this scheme can be found at https://www.revenue.ie/en/starting-a-business/tbess/index.aspx