May 31st 2012
Energy and climate change committee chair raises CRC concerns
Parliament published a letter on Tuesday 29 May from energy and climate change select committee chairman Tim Yeo saying the decision to withdraw revenue recycling from the Carbon Reduction Commitment (CRC) Energy Efficiency Scheme was "extremely disappointing". The CRC is a mandatory scheme aimed at improving energy efficiency and cutting emissions in large public and private sector organisations. The scheme originally contained a revenue recycling mechanism to act as an incentive for energy efficiency measures but it was dropped to reduce costs. Writing to energy and climate change secretary Ed Davey, Yeo said the measure would have acted as a "strong incentive" to drive energy efficiency measures, and its absence meant company directors were no longer taking a serious interest in the scheme. Yeo also noted "ongoing instability" in the design of the scheme, and over the projected costs savings of the scheme simplification. He said participants needed certainty about how the regime would look in the future and what cost savings the government was trying to achieve.
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