Thousands of businesses face CRC scheme fines

adminBusiness Electricity, Energy Efficiency, Utilities Market Regulation

Companies that fail to register in time could be hit with an instant £5,000 fine

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The deadline to register for the government’s new CRC Energy Efficiency Scheme is approaching fast, but over 3,000 of the largest UK businesses have still not yet registered, and could face fines of up to £45,000.

As detailed on our CRC Energy Efficiency Scheme page, the deadline to register for the CRC Scheme is September 30th. All businesses with at least one half-hourly electricity meter must participate in the scheme, and those spending £500,000 per annum on electricity must become ‘full participants’. Those businesses will not only be required to disclose information on their energy usage, but also purchase carbon allowances from the government equal to their carbon emissions.

It is estimated that up to 5,000 companies must register as full participants, but so far only 1,200 have registered. The remaining businesses must act fast or will face an instant £5,000 fine when the end of September comes, and £500 for each day that passes after that. The fines are capped at £45,000.

For these largest users, the CRC Scheme will involve them competing in an energy effiency league table against each other, with rewards and penalties being handed out based on their position.

For any half-hourly metered businesses using under 6,000 megawatt hours, registration is still mandatory, and can take several weeks to complete. Businesses are advised to take action now as even the smallest companies could be fined £500 if they are not registered in time.

Utilities Savings are offering registration from the extremely competitive rate of only £200 per half-hourly meter. Go to our CRC Energy Efficiency Scheme page to find out more about your obligations.