The CCA applications deadline draws close and EIC explores the benefits of compliance and why firms should submit their application as soon as they can.
The two-minute warning
After half a year in lockdown energy professionals could be forgiven for falling out of touch with current events. Isolation has left many of us with that post-Christmas, pre-new year feeling of not knowing our days and weeks apart.
That is why EIC has taken the time to put together a small reminder of the now-imminent CCA (Climate Change Agreements) deadline and why it is worth paying attention to.
Climate Change Agreements allow energy-intensive firms to receive reductions on their Climate Change Levy (CCL) obligations, in return for abiding by set energy efficiency targets.
The government extended the CCA for a further two years back in June. Which gives eligible organisations as much as a 92% reduction – on electricity, and up to 83% on gas from payment of the CCL (Climate Change Levy).
The scheme is as potent as it is ambitious. The latest extension alone offers the entire UK business sector approximately £300m per annum in savings.
The scheme is open to new entrants for the first time since 2018 and presents an unequalled opportunity for energy-related savings. However, the time is drawing near to apply for the extension to the scheme, with some trade associations requiring submission up to 4 weeks beforehand.
In addition to this added processing period, the process of assuring compliance can often be complex and long-winded. This latest target carries several charges including an increase in both buy-out prices as well as the financial penalty price for target period 5.
A helping hand
Energy professionals who are now trying to wade against the current of recession to stay afloat may simply not have the time or capacity to undertake the CCA process – thereby risking missing out on this golden opportunity.
EIC demystifies this process, adopting a 360 degree view, assessing the benefits to your organisation and advising of scheme’s requirements. EIC can fully manage the data and reporting requirements of the CCA process, alleviating the burden on your resource, whilst receiving the benefits available. To get started on the CCA compliance process, your organisation can find EIC’s full carbon offering here.