Peak Reduction Certificates (PRCs) are assigned a status:

  1. Active certificates – which can be traded and surrendered by Scheme Participants to meet their obligations. A certificate of any vintage that is active can be used to meet an obligation.
  2. Cancelled certificates – which have been surrendered to:

    - the Scheme Regulator to meet an obligation, or

    - the Scheme Administrator by written notice.

    Cancelled certificates can no longer be traded.
  3. Expired certificates – which are no longer active and cannot be traded or surrendered (see PRC expiry).
This flow chart shows that PRC status changes from Active to Cancelled or Expired as described in the paragraph above.

a Certificate expires at the end of a 3-year period beginning at the start of the compliance period when capacity is first made available (see PRC expiry).

More information about how PRCs are transferred is available on the Buying and selling PRCs page.