Inaccurate CRC reports 'could add to business energy costs'
Business energy customers who are preparing to fill in their Carbon Reduction Commitment (CRC) report may wish to take note of PwC's warning that submitting incorrect information could cost money.
The professional services firm's Henry Le Fleming observed that wrong data and late applications will incur fines. "Regulatory powers are wide," he noted, but remarked that it is not yet known "how strictly they will be enforced".
Initially missing the deadline will incur a £5,000 charge and a further £500 for every day that a report is late. Those who do not get their numbers right will be ordered to pay £40 for every tonne that is miscalculated.
Last month, the Confederation of British Industry's Rhian Kelly criticised the CRC for adding "to the cost of doing business" and accused the government of misleading firms that had signed up.
PwC noted changes made in October 2011 mean private firms will have to pay more to be a part of the scheme, after it was announced that money made from the project would be kept for public spending.
Posted by Richard Eden
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