CRC — government confirms CRC will continue in a simplified form
The government’s Autumn Statement confirmed that the CRC Energy Efficiency Scheme (CRC) will be retained in a simplified form, rather than abolished. From 2013 CRC will be simplified and the Performance League Table will be abolished. The Government has also stated that there will also be a full review of the effectiveness of CRC in 2016 and that the tax element introduced at Spending Review 2010 is a high priority for removal. The price of CRC allowances will be £12 per tonne of carbon dioxide (tCO2) in 2013/2014 and £16/tCO2 in 2014/2015. From 2015/2016 onwards the price will increase in line with the Retail Price Index.
The Government estimates that the changes will deliver a 55% reduction in costs, saving approximately £272 million for participants…
If you are registered and logged in to the site, click on the link below to read the rest of the Shoosmiths briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
Why register to The Lawyer
More relevant to you
News from Shoosmiths
News from The Lawyer
Briefings from Shoosmiths
A $100m US settlement may be of only passing interest to the UK auto industry, but parallels can be drawn with increasing levels of regulation in Europe.
The importance of companies being able to freely advertise their fees or discounts has again been highlighted by the Competition and Markets Authority (CMA).
Analysis from The Lawyer
Compliance and corporate governance codes for large financial institutions will undoubtedly include provisions to regulate high pay in the future
There’s more to the ABS model than attracting the man in the street and procuring external investment. Partners at the big corporate firms, take note…