Table of conversion factors under the CRC Energy Efficiency Scheme.
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|
*Specific provision has not yet been made in the legislation for the prices to be paid in the compliance sale period for 2016/2017 and in the forecast and compliance sale periods for 2017/2018 and 2018/19. Budget 2016 announced that sale prices would increase by RPI up until the closure of the scheme at the end of the 2018/19 compliance year - the provisions to enact the prices marked with * set out in the table above will be made in due course, subject to Parliamentary approval.
Please note: the Government has no plans to change the forecast sale price for 2016/17 of £16.10 stated above.
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.
Official guidance on all aspects of complying with the CRC Scheme is available from the Environment Agency webpages.