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Organisations across the UK's private and public sectors have until the end of September to register for the CRC Energy Efficiency Scheme, which is an initiative to regulate their energy consumption.

Up to 5,000 organisations, such as banks, hotels, retailers property and other funds, will have to join the mandatory scheme. Participants in the CRC will have to monitor and report their energy use.

The CRC came into force in April 2010 but the deadline for registration closes at the end of September. The scheme operates as a cap-and-trade mechanism. A system of emissions allowances determines how much carbon dioxide participants can produce each year. Participants can also buy and sell allowances to manage their energy needs.

The CRC is divided into a series of phases. Each phase lasts for five years with the exception of the introductory one which lasts for three years and runs from April 2010 to April 2013.

Participants can use the CRC's introductory phase as a trial run to forecast their expected allowance needs, buy and trade allowances, create new energy management strategies, and monitor and report their emissions.

Revenues generated by the sale of allowances is shared among participants at the end of each year depending on their success in reducing carbon emissions.

A key feature of the CRC is the creation of annual league tables showing the emission performance of each participant. Those that perform the best will receive the largest increase in payment back from the scheme. The worst performers will receive the smallest amount of increase.

The CRC Energy Efficiency Scheme forms part of the UK's effort to meet its carbon dioxide reduction targets that were set under the Climate Change Act of 2008

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