CRCEES - Guidance for Private Equity and Extension to Disaggregation Deadline

On 15 June 2010 the Environment Agency (the "Agency"), as the administrator of the Carbon Reduction Commitment Energy Efficiency Scheme ("CRCEES"), issued long awaited guidance on the application of the CRCEES to private equity funds (the "Guidance"). In particular the Guidance covers which entities might form a group for the purposes of the CRCEES and how the concept of significant group undertakings ("SGUs") will apply to private equity funds.

It is essential reading for those advising in respect of the CRCEES in the private equity context. We recommend a prompt review to check that the Guidance accords with the approach adopted by organisations in implementing the scheme.

The Agency has also recognised that there are a number of organisations encountering difficulties in making their initial registration by the 30th June deadline for disaggregation. The Agency's new position is that those organisations should send an e-mail with "CRC Intent to Disaggregate" in