First Nationwide on-line CRC Auction Simulation
Just to clarify a question raised during the excellent webinar on CRC Trading Simulation for the Public Sector regarding secondary market opportunities to buy and sell CRCs. Our business will be running after April 2011 regular on-line auctions for the buying and selling CRCs.
As many of you are aware we have been conducting several nationwide 'mock' trading days allowing participants to test our on-line trading platform .Please see details below -
First nationwide on-line CRC auction simulation
On 5th October NFPAS showcased its CRC Allowance auction platform by hosting a free nationwide on-line auction simulation. Designed to mimic CRC Allowance trading in the secondary market the exercise allowed participants to experience CRC trading in a risk-free environment.
A wide range of organisations took part, including companies from the public and private sector, councils, NHS hospital trusts and universities. Although the majority of participants were new to the world of on-line trading bidding started confidently and activity in the auction remained high throughout the exercise, which ran from 9am until midday.
Unlike the Environment Agency’s current plan for a closed and complicated tender based ‘auction’ from 2013 for the second stage of CRC, NFPAS Auctions have used their 10 years’ experience of holding regular on-line auctions to create a simple, transparent trading platform. The focus has been on giving participants a greater degree of certainty over the number and price of Allowances they wish to buy, and also providing them with a route to market to sell any excess Allowances they may accrue.
Feedback received from participants indicated that the exercise had been extremely useful and that the auction site proved easy to use:
“After what initially sounded a daunting process, I found the web site intuitive, helpful and very suited to the purpose of buying credits. I would anticipate using this site in reality when the time comes.”
Brian Davies, Vector Aerospace
“…this has ALREADY been an absolutely fantastic exercise. May I ask, will you be holding a ‘mock buying’ exercise again in the future?”
Ian Gough, Wokingham Borough Council
Following the initial sale of Allowances by the Environment Agency in April 2011 NFPAS Auctions plan to hold regular on-line CRC Allowance auctions, allowing participants the chance to fine tune their position throughout the compliance year.
In addition, following the success of the October simulation NFPAS Auctions are planning to hold another virtual trading event on Thursday 20th January 2011. Anyone interested in taking part should register via our web-site: www.nfpas-auctions.co.uk.