 |
|
The CRC will be a mandatory emissions trading scheme, targeting emissions currently not included in the EU ETS or Climate Change Agreements, from up to 5,000 large organisations. This scheme will include, for example, supermarket chains, hotel chains, office-based corporations, government departments and large local authorities. In its current proposed format, the CRC will cover all organisations whose electricity consumption through half hourly meters is greater than 6,000MWh/yr – equivalent to an annual electricity bill of ~£500k. ll energy other than transport fuels will be covered, such as electricity, gas, fuel and oil. During a planned introductory phase, due to start in April 2010, all allowances will be sold at a fixed price. From April 2013, allowances will be allocated through auctions with a diminishing number of credits available over time. Participants will also potentially be able to buy EU ETS allowances to comply with their emissions cap – this would be a buy-only link to effectively create a price ceiling for credits in the CRC. |