CRC: updated guidance published, April 2012

posted in: CRC, Featured, Legislation | 0

The Environment Agency (EA) has published new and updated guidance on the CRC.

The EA’s CRC website now has a new-look guidance page, which has done away with the myriad guidance documents that had built up during the last two years and replaced them with new, streamlined versions.

The guidance now includes a simplified guide to Phase 1 which has consolidated 30 earlier documents into one (although it is more than 250 pages long!). Much of this guidance is not new, although one item to note is in Annex N, an example of the Memorandum of Account, which will be issued when purchasing allowances. This is designed for use in place of an invoice, and may be useful to some participants who normally require an invoice before payment can be made.

Of immediate interest will be the new guidance on the purchase and surrender of allowances, which confirms the allowance purchase deadline as 31 July, by which time participants must ensure that their cleared payment has reached the EA’s account. In law, the surrender deadline is also 31 July; however, the new guidance confirms that the EA has taken a ‘regulatory position’ to permit the surrender of allowances up until 28 September.

In practice, this won’t make much difference to participants. It may allow you an extra day or two to make your payment, but our advice would be not to cut it that fine anyway!

Finally, there are some new ‘screenshot guidance presentations‘ designed to walk you through the online processes for buying allowances.

If you spot any useful nuggets of information (or errors/anomalies) please do let us know.