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Organisations which participate within the CRC are required to monitor their energy use, and report their energy supplies annually. The Environment Agency’s reporting system applies emissions factors to calculate participants’ carbon dioxide (CO2) emissions on the basis of this information.
Participants must purchase and surrender allowances for their emissions. Allowances can either be bought at annual fixed-price sales, or traded on the secondary market. One allowance must be surrendered for each tonne of CO2 emitted.
In the current phase, participants have the option of buying allowances in advance in the lower price ‘forecast sale’ at the start of a compliance year, or in a higher price ‘compliance sale’ after the end of the year.
For the current phase, the following prices have been announced:
CRC Scheme Year
Forecast Sale Price
Compliance Sale Price
At Budget in March 2016, HMT announced the decision to close CRC following the 2018-19 compliance year, with no purchase of allowances required to cover emissions for energy supplied from April 2019.