Poundworld facing huge CRC fine
The country’s second largest discount chain, Poundworld is owned by US-based TPG Capital, one of the world’s biggest private energy investors. Despite prompting, it failed to register by the end of January 2014. This breached Article 11 of the scheme. Such violations are subject to a £5,000 penalty, plus £5,000 for each day without registration capped at 80 days for non-compliance.
This fine exceeds the £41,000 imposed against French water firm Saur, and a similar sum (now quashed) against building firm Alumasc in 2014.
However, it is likely that, in his March Budget, Chancellor George Osborne will announce the future abolition of the CRC. This would be in response to last autumn’s Treasury Consultation upon business-based energy efficiency schemes. Over 90 per cent of respondees called for the number of such schemes to be reduced.
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