Environment Exchange launches WEEE transaction service

United Kingdom-based company The Environment Exchange (T2E) has launched a WEEE (waste electrical and electronic equipment) evidence reconciliation and settlement center. The service will operate until Jan. 30, 2015, and is designed to provide operators of producer compliance schemes (PCS) in the U.K. with a tool to reconcile final WEEE evidence requirements or surpluses “within a managed, impartial, anonymous and transparent framework.”

T2E says one of the key objectives of its reconciliation center is the ability to bring an element of price transparency to WEEE markets. The information will provide a key component in the setting of a compliance fee, should a T2E WEEE Compliance Fee proposal be accepted in February.

PCS operators are encouraged to submit “bids” and “offers” for each WEEE category to T2E, which will be displayed anonymously on its WEE Reconciliation Centre Platform, which can be found at http://t2e.co.uk/weee-reconciliation-centre.html.

T2E will carry out negotiations on behalf of PCSs in order to help facilitate the allocation of WEEE evidence contracts, says the company. In the event of a contract transaction, T2E will manage the settlement process from receiving and distributing funds to the delivery of the WEEE evidence notes.

In addition to the managed reconciliation platform, T2E says it intends to hold a single-day reverse auction on January 22, 2015.