Phase Two of the Carbon Reduction Commitment (CRC) energy efficiency scheme, which runs up to 2019, began on 1 April 2014. It offered participants the opportunity to purchase cheaper allowances for surrender in the 2014-15 compliance year.
The CRC is a mandatory emissions trading scheme aimed at reducing carbon emissions from large commercial and public sector organisations. Organisations mandated to participate in the CRC must monitor their emissions and purchase allowances to cover their energy use.
CRC allowances will be sold in two fixed price sales in each CRC compliance year: a forecast sale of £15.60/allowance and a retrospective compliance sale at £16.40/allowance.
The forecast application period for the first compliance year of Phase Two takes place between 1 April and 30 April. Forecast payments will be made between 1 June and 20 June with the allocation of allowances taking place between 1 June and 15 July.
Carbon Reduction Commitment (CRC) Phase Two begins