Green Budget 2012: Carbon Reduction Commitment to be reformed or replaced
In today’s announcement of this year’s Budget, Chancellor George Osborne has outlined plans for the government to reform the Carbon Reduction Commitment (CRC), the green tax system based on carbon emissions reporting, by the Autumn or replace it with a new, less “cumbersome” levy, reports providers of energy saving technology EcoAdapt (http://www.ecoadapt.co.uk).
The CRC is a mandatory carbon emissions reporting and pricing scheme which applies to all organisations using more than 6,000MWh per year of electricity. Speaking in the House of Commons today, Osborne said that he wanted to ease the administrative cost on the 20,000 UK businesses attempting to comply with the current carbon reduction system and pledged to create a more straightforward green tax if the current system cannot be simplified within the next six months. “Carbon Reduction Commitment was established by the previous Government,” he said. “It is cumbersome, bureaucratic and imposes unnecessary cost on business. So we will seek major savings in the administrative cost of the Commitment for business. If those cannot be found, I will bring forward proposals this autumn to replace the revenues with an alternative environmental tax.”
The current CRC scheme requires companies with energy bills over £500,000 a year to measure and report their carbon emissions and pay a charge for every tonne emitted. A spokeswoman for the Department of Energy and Climate Change (DECC) told BusinessGreen, the environmentally focused business website, that simplifying the CRC “should be able to save businesses costs”.
As one would expect from a provider of energy saving technology, here at EcoAdapt we firmly believe in the importance of making a carbon reduction commitment, but we also believe in helping companies to reduce carbon emissions while saving money. This is where voltage optimisation technology comes in, helping businesses to regulate over voltage, conserve energy and reduce electricity costs. Find out how our patented Sensing Technology™ is making this a reality for businesses all over the UK at http://www.ecoadapt.co.uk.
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