CRC: amending regulations set prices of allowances for 2015 onwards

Practical Law UK Legal Update 0-592-6585 (Approx. 3 pages)

CRC: amending regulations set prices of allowances for 2015 onwards

by Practical Law Environment

The CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) (Amendment) (No. 2) Regulations 2014 (SI 2014/3262) were made on 10 December 2014 and come into force in the UK on 15 April 2015.

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The CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) (Amendment) (No. 2) Regulations 2014 (SI 2014/3262) (Allowances Regulations 2014) were made on 10 December 2014 and come into force in the UK on 15 April 2015.

The Regulations set the prices for CRC allowances from 2015 and provide that CRC payments may not be made using a credit card.

The CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) (Amendment) (No. 2) Regulations 2014 (SI 2014/3262) (Allowances Regulations 2014) were made on 10 December 2014 and come into force in the UK on 15 April 2015. They are accompanied by an explanatory memorandum.

Regulation 2 of the Allowances Regulations 2014 amends regulation 7 of the CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) Regulations 2013 (SI 2013/3103) to set the price of CRC allowances from 2015 as follows.

The price for each CRC allowance at a standard allocation is:

£15.60 in a forecast application period in 2015.
£16.40 in a compliance application period in 2015.
£16.10 in a forecast application period in any other year.
£16.90 in a compliance application period in any other year.

The price for each CRC allowance at a special allocation (that is, following the issue of an enforcement notice or a civil penalty requiring allowances to be acquired) is:

£16.40 in relation to 2015.
£16.90 in relation to any other year.

Regulation 2 of the Allowances Regulations 2014 also provides that CRC payments may not be made using a credit card.

For further information on the:

Sale of CRC allowances, see CRC Energy Efficiency Scheme: overview: Sale of allowances.
CRC in general, see CRC Survival Kit.

Source: CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) (Amendment) (No. 2) Regulations 2014 (SI 2014/3262) and explanatory memorandum.

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Resource ID 0-592-6585

Published on 16-Dec-2014

Resource Type Legal update: archive

Jurisdiction

United Kingdom