PRN Market
The trading market where Packaging Recovery Notes are bought and sold between reprocessors, exporters, compliance schemes, and producers. PRN prices fluctuate based on supply of recycled material and demand from obligations.
The PRN market is the trading system through which Packaging Recovery Notes and PERNs are bought and sold. It operates as a market mechanism to fund packaging recycling.
PRN market dynamics:
- Supply — determined by actual recycling volumes at accredited reprocessors and exporters
- Demand — driven by producer obligations calculated from targets
- Material-specific — separate markets for each material type
- Price volatility — prices can vary significantly year to year
Plastic PRNs historically command the highest prices due to recycling infrastructure constraints. Paper and metal PRNs tend to be lower due to stronger recycling markets. Compliance schemes often purchase PRNs in bulk for better pricing. Under pEPR, the PRN market continues for non-household packaging, though household packaging transitions to the waste management fee system.
Related Terms
Compliance Scheme
An approved organisation that manages EPR obligations on behalf of obligated pro...
Packaging Recovery Note
A tradeable certificate issued by accredited reprocessors proving that a tonne o...
Packaging Export Recovery Note
A certificate proving that packaging waste exported from the UK has been recycle...
Recovery Targets
Government-set annual targets for the percentage of each packaging material that...
Reprocessor
An accredited facility that processes collected packaging waste into recycled ra...
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