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Originating department:Commercial Services
Company Circular No:LCH.Clearnet Ltd Circular No 2598
 Service Circular No: LCH EnClear No 281
Date:15 March 2010
To:All LCH.Clearnet EnClear Clearing Members

LCH.Clearnet EnClear Spot and Forward CER Contract CER Credits Permissible for Delivery

In light of recent news regarding the surrender of CER credits, Clearing Members are reminded that CER credits that have been surrendered for compliance purposes under the EU ETS to a Member State cannot be re-used for compliance purposes again in a later year.  Members are therefore reminded of their obligation to deliver only valid CER credits.  In reference to the LCH.Clearnet EnClear Spot and Forward CER contracts, a permissible CER credit is defined in Section 3.3C.1 of the LCH.Clearnet General Regulations as:

 A certified emissions reduction, as defined in the Directive, that may be used for determining compliance with emissions limitation commitments pursuant to and in accordance with the Scheme, excluding allowances generated by hydroelectric projects with a generating capacity exceeding 20MW.

Surrendered CER credits that are listed as such on the official website of the European Commission will not be permissible for delivery against the above mentioned contracts.  Please use the following link to take you to the relevant website page of the European Commission.


If you have any questions relating to this circular, please do not hesitate to contact Jason LaBrooy on +44 20 7426 6323, Jason.labrooy@lchclearnet.com


Yours sincerely


Jason LaBrooy

Emissions Markets
Commercial Services