delete The CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) (Amendment) Regulations 2017
Amends the CRC Energy Efficiency Scheme (Allocation of Allowances for Payment) Regulations 2013 to modify the allocation and payment framework for 2017-2019, replacing 'any other year' provisions with specific fixed prices for forecast and compliance application periods, and introducing a compliance-only period structure for 2019.
The CRC scheme was an inherently flawed cap-and-trade mechanism that imposed significant administrative and compliance burdens on large organizations while achieving questionable emissions reductions. This amendment merely adjusts prices for a scheme that was already being wound up—the CRC was abolished in 2018. Fixed allowance prices remove the price discovery function of a genuine market, defeating the purpose of a cap-and-trade system. The scheme added costs to businesses without clear evidence of corresponding carbon reduction benefits, and smaller businesses bore disproportionate administrative costs relative to their emissions. Post-Brexit regulatory reform should prioritize removing such market-distorting mechanisms rather than maintaining them with temporary amendments.