Ireland likely to extend supports for firms if energy costs remain high

DUBLIN (Reuters) – Ireland will likely extend a grant scheme to help businesses pay for soaring energy bills beyond its initial expiry date at the end of February if energy prices are not falling, Deputy Prime Minister Leo Varadkar said on Tuesday.

The government introduced the 1.25 billion euro temporary scheme in Tuesday’s budget, providing most businesses with up to 40% of the increase in electricity or gas bills up to 10,000 euros per month.

“When we get to next February, if it is the case that energy prices aren’t falling, and if we can still afford to provide this level of support to the economy then I think it will be extended in that scenario,” Varadkar, who is also minister for enterprise, told a news conference.

(Reporting by Padraic Halpin; Editing by Alex Richardson)