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The Carbon Reduction Commitment
Is an emissions trading scheme in which thousands of
businesses and public sector bodies will have to
participate to some degree. The CRC is an important part of the
efforts to reduce carbon emissions by 80% by 2050.
It aims to drive cost effective carbon emissions
reductions through greater energy efficiency rather
than renewable energy or offsetting. Reducing how
much energy organisations use is what counts here.
The scheme is aimed at large non energy intensive
organisations’:
retail chains, hotel chains, large offices small to
medium industrial facilities, and almost all public
sector organisations. Who’s included?
Any organisation with a half hourly (HH) metered site
is affected as they will have to register for the scheme
whether they qualify or not. Qualification depends on
on how much electricity the organisation has used at
their sites with half hourly type metering from January
to December 2008. The threshold is 6GWh and the HH
sites considered are those for which that organisation
is financially responsible for the electricity bill
Those exceeding the threshold have to monitor, report
and buy allowances for their CO2 emissions from all
fuels used on site each year. Those that don’t still have
to register for the scheme and show they don’t qualify.
This includes electricity, gas,oil, diesel, coal and
others, but does not include transport fuels.
The scheme is designed as a cap and trade scheme.
This means that those participants that cut their
emissions will be able to sell their excess allowances,
while those that increase their emissions will need to
buy more allowances. Initially there will be no limit
on the number of allowances available, but in later
phases of the scheme the number of allowances will
be capped and reduce each year.
The scheme officially begins in 2010
introductory phase to help participants adjust to the
scheme. This phase runs from April 2010 to March
2013. |