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Spending Review Affects CRC Scheme

Following on from the Government's Comprehensive Spending Review on Wednesday the CRC Energy Efficiency Scheme will see some fundamental changes in an effort to simplify the scheme and try to reduce the burden felt by businesses. The first sale of Carbon Allowances will now take place in 2012, a year later than planned, for emissions produced in 2011/12. The Review also stated that revenue from the sale of allowances will now be used to 'support public finances' rather than recycled to participants as initially laid out by the scheme.

The Environment Agency are currently reviewing the impact these changes will have on the scheme and will provide further information as it becomes available.

At this point there have been no announcements relating to reporting deadlines so it is important that businesses continue working to the guidance currently in place to ensure they are fully compliant.