EDINBURGH, UK, Jan. 8, 2015 (Press Release) -
t2e has traded over one million tonnes of PRNs in calendar year 2014. 42% of this was traded through the Forward Markets, while 58% traded in the Spot Market.
With markets now open until January 2016 participants have already traded close to 200,000 tonnes of 2015 PRNs.
With less than one month to go until the 2014 Compliance Year comes to an end t2e is anticipating a busy January as participants finalise their positions.
Managing Director Angus Macpherson commented "2014 has been another very interesting year. Challenges remain for 2015. Our forward markets offer certainty in otherwise uncertain times.t2e would like to thank all of its participants for their continued support over the year and are looking forward to being of service to them in 2015."
About t2e:The Environment Exchange (t2e) provides a transparent trading platform where members can trade PRNs. t2e's unique position lets members use the power of the marketplace to gain access to the best available prices, which are displayed live on the trading boards. Trading is made easy with our dedicated account management service and swift settlement process. Members are kept informed with daily, weekly, monthly, and quarterly market reports. t2e also operates a transparent trading platform for Waste Electrical & Electronic Equipment Evidence Notes (WENs) and provides an independent audit service for exporters, reprocessors and AATFs.
Background Information:Under the Producer Responsibility Obligations (Packaging Waste) Regulations 2007, UK companies that produce packaging have a legal obligation to contribute to the cost of recycling this packaging. They do this by purchasing Packaging Recovery Notes (PRNs), which are produced by UK firms that recycle packaging or export it for recycling elsewhere. The legislation applies to companies who handle (manufacture, covert, pack/fill, or retail) over 50 tonnes of packaging per year and have an annual turnover of over £2 million.