A platform that will enable producer compliance schemes (PCSs) to offer surplus waste electrical and electronic equipment (WEEE) has been launched by The Environment Exchange (t2e).
The company said the centre, called ‘WEEE evidence reconciliation and settlement’, will facilitate the movement of evidence within a “managed, impartial, anonymous and transparent framework”.
It is part of t2e’s proposal on the compliance fee, a payment that PCSs unable to meet their annual obligations can make at the end of the compliance year instead of acquiring additional evidence.
The Department for Business, Innovation and Skills (BIS) will announce the methodology and the fee in February. In a consultation on the matter it had said the aim of the fee was to discourage PCSs from collecting WEEE significantly above their targets and then seeking to sell that surplus at excessive prices.
Tom Rickerby, business development manager at t2e, told MRW the platform was intended to provide a “transparent price picture” for the market.
“The reconciliation centre is designed to identify supply and demand quickly for each category of WEEE evidence along with buyers and sellers price expectations,” he said.
“We aim to facilitate the flow of WEEE evidence from those schemes that hold a surplus of evidence to schemes that still need to obtain WEEE evidence to meet their 2014 compliance at a price that suits both parties.”
PCSs can submit bids and offers for each WEEE category to t2e, which will then display them anonymously and facilitate the negotiation. If an exchange is agreed, t2e will manage the settlement process from receiving and distributing funds to the delivery of the WEEE evidence notes.
“While we do not anticipate large volumes, we believe that establishing an element of price transparency is fundamental to creating a fairer and more cost-effective WEEE compliance system,” said Rickerby.
The service will operate until 30 January, which is when the compliance year ends. t2e also aims to hold a reverse auction on 22 January.
The latest figures released by BIS in December indicated that large domestic appliances will struggle to reach their target for 2014 and PCSs may need to use compliance fees to meet their obligations.