The Environment Agency has released the latest figures for Packaging Recovery Note (PRN) revenue from 2016, which highlights that the system totalled over £50 million in 2016, a decrease of income in comparison to £64.2 million in 2015.
PRNs are purchased by Comply Direct, as well as other compliance schemes, to show that packaging members have met their obligations, required by the UK Packaging Waste Regulations. PRNs are sold on an open basis and as a result prices of PRNs can differ from quarter to quarter.
The largest material generator for PRN revenue in 2016 was plastic, with domestic reprocessing and exports of plastics for recycling overseas totalling over £21 million.
It was a varied performance for plastic throughout 2016, with price per tonnage starting at a steep price, however gradually over the quarters the state of play with plastic strengthened which led to a positive final quarter.
Revenue from the UK PRN System can be spent in a number of ways, which ranges from investment into the PRN infrastructure and reprocessing capacity to developing new markets. Figures released by the Environment Agency offer a summary of how the revenue was spent. Infrastructure and capacity development have been the main source of investment from the 2016 figures, totalling more than £23 million, which is almost 50% of the final sum of revenue for 2016. Funding for collections totalled over £10 million whilst development of communications strategies reached £1 million.
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