Minister Coveney launches Business Users Support Scheme for Kerosene.
A new energy support scheme for businesses impacted by the increases in the cost of kerosene has been launched.
The Business Users Support Scheme for Kerosene (BUSSK) will compensate eligible businesses for 50% of the increased cost of Kerosene purchased for heating their business premises during the period from 1st March to 31st December 2022, compared to the average retail price for the same period in 2021. There will be a guaranteed minimum payment of €500.
“It will help alleviate the financial burden that unprecedented energy price increases have placed on businesses”
Businesses that have a commercially rateable premises, and purchased a minimum of 1,000 litres of Kerosene during the eligible period, can apply to the scheme.
B&Bs that are approved under the Fáilte Ireland National Quality Assurance Framework are also eligible. Businesses that have already received payments from the Temporary Business Energy Support Scheme can apply to BUSSK, and businesses with multiple premises can apply in respect of each premises.
Cost of energy
“The cost of energy is a major factor in the operation of most businesses,” the Minister for Enterprise, Trade and Employment Simon Coveney, TD, said.
“The impact of the very significant price increases following the February 2022 Russian invasion of Ukraine was mitigated by the introduction of the Temporary Business Energy Support Scheme (TBESS) to support companies dealing with increased electricity and natural gas costs.
“This new scheme now extends similar supports to businesses that rely on Kerosene for heating purposes. It will help alleviate the financial burden that unprecedented energy price increases have placed on businesses.”
Criteria for kerosene scheme
Full eligibility criteria and details of how to apply to the scheme are available here. The scheme will be open for applications until the 31st October 2023.
In May, the Irish Government agreed to the development and implementation of a scheme to assist business users of Kerosene impacted by significant increases in the cost of this fuel.
BUSSK will be retrospective and will provide payments to businesses to reimburse half of the increased cost of Kerosene purchased in the eligible period from March to December 2022, compared to the average retail price during the reference period of March to December 2021.
Average Kerosene prices during the 2022 eligible period were €1.32 per litre, compared to €0.70 per litre in the 2021 reference period.
BUSSK will be administered by Enterprise Ireland, using the support of an external service provider, and will utilise unspent TBESS funding.
A business will be eligible to apply to BUSSK where it is a company, self-employed individual or partnership carrying on a trade or profession, the profits of which are chargeable to tax under Case I or Case II of Schedule D by virtue of section 18(2) of the Taxes Consolidation Act (TCA), 1997.
Applicants must have tax clearance from Revenue. Businesses that have already received the maximum permitted amount from TBESS will not be eligible to apply to BUSSK. The total amount received by businesses from TBESS and BUSSK combined cannot exceed the maximum TBESS payment amounts.