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ARTICLE · 09 SEPTEMBER 2010

PFI - CRCEES Guidance Launched

CMS Cameron McKenna Nabarro Olswang
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Compliance With The Obligations Imposed By The Carbon Reduction Commitment Energy Efficiency Scheme ("CRCEES") Is Now Inescapably An Important Issue For The PFI Sector.

United KingdomEnergy and Natural Resources
Olivia Quaid
Olivia Quaid
Natalya Beam
Natalya Beam
Sarah King
Sarah King
Paul Smith
Paul Smith

Compliance With The Obligations Imposed By The Carbon Reduction Commitment Energy Efficiency Scheme ("CRCEES") Is Now Inescapably An Important Issue For The PFI Sector.  Since The Coming Into Force Of The CRC Order In March 2010, The Sector Has Been Lacking Clarity On Administrative And Financial Aspects Of The CRCEEES And Its Impact On Risk Allocation In PFI Deals.

On 3 September 2010 The Environment Agency Issued Guidance On The Application Of The CRCEES To The PFI Sector (The "Guidance"). The Guidance Has Been Launched Following Input From The Environment Agency, DECC And The Treasury.

The Guidance Is Long Overdue And Key Reading For The Sector. It Clarifies The Tests For Determining Which Party Is Responsible For The Energy Supply As A "Participant" In A PFI Context Providing An Explanation On The Application Of Accountability Principles And Energy Efficiency Risk Sharing Mechanisms.

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