Údarás welcomes new scheme to assist businesses experiencing problems with energy costs

Údarás na Gaeltachta has welcomed the new scheme to assist businesses experiencing difficulties due to increasing energy costs arising from the war in Ukraine

A new scheme is to be introduced to assist businesses experiencing difficulties due the energy crisis arising from the war in Ukraine.

The scheme targets ‘energy-intensive businesses’, experiencing a 15% decrease in gross operating surplus (EBITDA) in 2022, as compared to 2021, as a direct result of increase in energy input prices, and not other supply chain or inflationary issues.

A total sum of between €20,000 agus 2 million euro can be granted to qualifying businesses, on the condition that the applicants demonstrate that they have an energy efficiency plan,  setting out actions the business will take to achieve a greater level of energy efficiency.

Enterprise Ireland will implement the scheme - Údarás na Gaeltachta and the IDA and have also been nominated as granting authorities for the scheme, which will be of great benefit to Gaeltacht companies currently under pressure due to rising energy costs.