CRC registration so far: commonly made mistakes | Practical Law

CRC registration so far: commonly made mistakes | Practical Law

An update on a newsletter, published by the Environment Agency on 3 June 2010, with the latest news on the CRC Energy Efficiency Scheme (CRC).

CRC registration so far: commonly made mistakes

Practical Law UK Legal Update 8-502-4624 (Approx. 4 pages)

CRC registration so far: commonly made mistakes

by PLC Environment
Published on 08 Jun 2010UK
An update on a newsletter, published by the Environment Agency on 3 June 2010, with the latest news on the CRC Energy Efficiency Scheme (CRC).

Speedread

On 3 June 2010, the Environment Agency sent out a newsletter with the latest news on the CRC Energy Efficiency Scheme (CRC), which includes a list of commonly made mistakes so far.
Terms that appear in capital letters in this legal update are defined in Practice note, CRC Energy Efficiency Scheme: PLC glossary and abbreviations.
On 3 June 2010, the Environment Agency (EA) sent out a newsletter with the latest news on the CRC Energy Efficiency Scheme (CRC). This includes a list of areas of confusion and commonly made mistakes so far:
The EA has also published on its website a list of organisations that have registered and made Information Disclosures so far. Of the 5,000 or so organisations that are expected to be covered by the scheme, around 200 have registered as Participants. Of the 15,000-20,000 expected to have to make Information Disclosures, around 2,000 have done so. The deadline for registration and making Information Disclosures is 30 September 2010. For details of the penalties involved in missing this deadline, see Practice note, CRC Energy Efficiency Scheme: enforcement and penalties.
Reminder of key dates:
  • 30 September 2010: The deadline for registering as a Participant in the CRC. However, Groups wishing to disaggregate a Significant Group Undertaking (SGU) must do so by 30 June 2010. The EA has asked organisations to contact them if they are unable to meet this deadline. This may be particularly relevant to private equity firms. For more information on disaggregation, see Practice note, CRC Energy Efficiency Scheme: overview: Companies and other types of Undertakings.
  • April 2011: The first sale of Allowances, where an unlimited number of Allowances will be sold at a fixed price of £12/tCO2.
  • 29 July 2011: The first Footprint Report and Annual Report must be submitted.
  • October 2011: The first League Table will be published and the first Revenue Recycling payments will be made.
For more information on what happens when during each Phase of the scheme, see PLC timeline.
For more information on the CRC, see the CRC Survival Kit.