The SPIRIT agency for entrepreneurship, internationalisation, FDI and technologies has received nearly 2,000 requests for energy subsidies from companies seeking a total of €399,5 million. €650 million has been earmarked for the measure.

Under the relevant legislation, companies have access to five types of aid. These differ in terms of the share of co-funding of eligible costs and in grant caps. They can be obtained for electricity, gas and steam, and cover between 40% and 80% of eligible costs.

Companies had until 28 February noon to file their requests and may still withdraw them until 8 March, SPIRIT told the STA as it shared the data on the amount sought on 1 March.

The first payout, for the first quarter of this year, is to be completed by the end of the month. Between April and December, payments will be carried out monthly.

As of next month, companies will be eligible for the payout of 80% of one twelfth of the granted sum a month. Thee remaining 20% will be paid out next year, by the end of February.

The aid will be provided under a €1 billion-plus passed in parliament in December 2022 that also includes state subsidy schemes for furlough and part-time work.