How is the price calculated?

We use today's market price of EUAs and add the following elements to it:

Example market price for one Phase 2 EUA
£ 12.87
+ our admin fee* (10%) £ 1.29
+ spread fee** (5%) £ 0.64
= price excluding VAT £ 14.80
+ VAT £ 2.59
Price including VAT £ 17.38

*Admin fee. The admin fee is the portion of your money that we use to pay the company's costs. It is much smaller than the admin fee of a typical offsetting company.

** Spread fee. The 'spread fee' is a small fee that we add to website orders to reflect the risk of changing market prices. We combine your order with other customers before making a lump purchase of EUAs, to keep the transaction costs down. If the market price has gone up in the meantime, we risk not being able to purchase your full order. The small 'spread fee' covers this risk. We don't make any margin on the price of EUAs, and any money remaining is reserved for buying and retiring further EUAs.