The CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) (Amendment) Regulations 2014

This Statutory Instrument has been made in consequence of a defect in S.I. 2013/3103 and is being issued free of charge to all known recipients of that Statutory Instrument.

Statutory Instruments

2014 No. 495

Climate Change

Emissions Trading

The CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) (Amendment) Regulations 2014

Made

5th March 2014

Laid before the House of Commons

6th March 2014

Coming into force

1st April 2014

The Treasury make the following Regulations in exercise of the powers conferred by section 21(1) and (2) of the Finance Act 2008(1).

Citation and commencement

1.  These Regulations may be cited as the CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) (Amendment) Regulations 2014 and come into force on 1st April 2014.

Amendments to the CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) Regulations 2013

2.—(1) Regulation 7 of the CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) Regulations 2013(2) is amended as follows.

(2) At the beginning insert—

“(A1) The amount required to be paid for each allowance at a standard allocation requested in 2014 is £12.”.

(3) In paragraph (1) after the word “requested”, insert “in any other year”.

(4) For paragraph (2) substitute—

“(2) The amount required to be paid for each allowance at a special allocation—

(a) in relation to 2014 is £12;

(b) in relation to any other year is £16.40.”.

Sam Gyimah

Anne Milton

Two of the Lords Commissioners of Her Majesty’s Treasury

5th March 2014

EXPLANATORY NOTE

(This note is not part of the Regulations)

These Regulations amend the CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) Regulations 2013 (S.I. 2013/3103).

They correct an error and set the price of allowances issued in relation to 2014 at £12, which is the intended policy.

These Regulations are covered by the full impact assessment produced in relation to the CRC Energy Efficiency Scheme Order 2013 (S.I. 2013/1119), which contains an assessment of the effect that the 2013 Regulations and that Order, taken together, will have on the costs of business and the voluntary sector. That assessment is annexed to the Explanatory Memorandum to the CRC Energy Efficiency Scheme Order 2013 which is available alongside the instrument on www.legislation.gov.uk or from the Department for Energy and Climate Change, 3 Whitehall Place, London, SW1A 2AW.

(1)

2008 c.9.

(2)

S.I. 2013/3103.