nothing goes to waste
Search Website
Climate Change Act 2008 The CRC Energy Efficiency Scheme Order 2010
19/05/2010 |
Go back to listings |
The CRC Energy Efficiency Scheme (formerly known as the Carbon Reduction Commitment) is the UK’s mandatory climate change and energy saving scheme. The scheme started in April 2010 and is administered by the Environment Agency. It is central to the UK’s strategy for improving energy efficiency and reducing carbon dioxide (CO2) emissions, as set out in the Climate Change Act 2008. It has been designed to raise awareness in large organisations especially at senior level and encourage changes in behaviour and infrastructure. Participation in CRC means we will be helping the UK achieve its overall targets of reducing greenhouse gas emissions by at least 80% by 2050.
Emissions trading schemes such as CRC provide a financial incentive to reduce emissions by placing a price on carbon emissions. In the case of CRC, participants have to purchase allowances equivalent to their emissions each year. The overall emissions reduction target is achieved by means of a cap on the total number of allowances available to the group of participants. During the introductory phase allowances will be sold at a fixed price of £12 per tonne of CO2. Following the initial sale period, participant organisations can buy or sell allowances by trading on the secondary market. This enables organisations that have reduced their energy consumption more than they expected to sell some allowances, while those that have higher emissions than anticipated can purchase extra allowances.
Those companies that meet both points below must register as full participants, monitor their emissions and purchase allowances sold by Government for each tonne of CO2 that they emit
- If you had at least one half-hourly meter settled on the half-hourly market
- Electricity consumption through all HHMs was at least 6,000MWh
If during 2008 your consumption was less than 6,000MWh then you still need to provide the EA with information. If consumption was more than 3,000MWh then you will be required to declare during the registration period (April – September 2010) your settled HHM reference numbers as well as your electricity consumption through all HHMs.
If your consumption was less than 3,000MWh in the qualification year then you need to just declare your settled HHM reference numbers and complete an information disclosure on the EA online form.