04 May 2011 03:05:06
Wrong CRC reports could raise energy bills up to 11%
New research claims companies filling out wrongly their CRC reports could face an extra cost to their energy bills of up to 11%.
Companies can face additional costs of between 5 and 11% in energy bills if they don't submit their CRC report right first time, according to new research by financial powerhouse PricewaterhouseCoopers. The research, released last week, said that by the end of July more than 3,000 organisations affected by the CRC scheme, mostly with energy bills of more than £500,000, must submit their first CRC reports.
The CRC, which under the coalition government has become a pure carbon tax, can allow the Environment Agency as the schemes regulator to fine business £5,000 fine for each late report and £500 a day every day the report is outstanding. Inaccuracies in CRC reporting can land business with fines of £40 a tonne for under or over reporting. An organisation spending £20 million on energy making a 20% mistake would result in fines of £1m.
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