Skip Navigation Links Skip Navigation Links
Skip Navigation Links

Skip Navigation Links
Skip Navigation Links
Skip Navigation Links
Skip Navigation Links
Skip Navigation Links
Skip Navigation Links
Skip Navigation Links
Skip Navigation Links

Skip Navigation Links

About the GO Market (M-GO)

Certificates of Origin for Renewable-Energy Plants are assigned to producers of electricity from renewable sources actually generated and injected into the grid in each solar year; they are aimed at promoting transparency in the contracts of sale of renewable energy.
 
Under art. 2 of the Decree of the Ministry of Economic Development of 31 Jul. 2009 (criteria and procedures for providing final customers with information about the fuel mix used to generate the electricity supplied, as well as on its environmental impact):
 
  • selling companies shall provide final customers with the information referred to in art. 1 of the same decree (information about the mix of primary energy sources used to generate the electricity supplied and on its environmental impact, useful for energy saving), by including said information in the promotional material made available to them in the pre-contractual stage and in the comparability tables made available to low-voltage customers upon signature of the contract;
  • the information about the fuel mix used to generate the electricity sold, in each of the two previous years, shall be posted on the websites of the selling companies within 31 May of each year, commencing in 2010 and, at least every four months, in the invoices sent to each final customer;
  • selling companies shall provide final customers with the information referred to in art. 3, paras. 1 and 2 of the same decree (information about the environmental impact of electricity generation, as well as information useful for promoting energy-saving practices among final customers; results of studies aimed at assessing the environmental impact of electricity generation and taking into account, among others, lifecycle analysis and external costs), as well as with third-party and independent sources of information about the possible measures that the same customers may take to save energy in end uses.
 
ARERA (”Autorità di Regolazione per Energia Rete e Ambiente”, the electricity & gas regulator) approved a number of rules to guarantee that the electricity sold to the individual customers is actually generated from renewable sources and not sold multiple times. Each customer accepting a “green offering” shall receive a bill specifying the fuel mix used for the electricity supplied, as well as information about the fuel mix used to generate the overall electricity sold, as per art. 2 of the Ministerial Decree of 31 Jul. 2009.
 
In its consultation document DCO 21/11, ARERA proposed the identification of:
 
a)    measures to promote transparency in the contracts of sale of renewable energy, in order to guarantee that the same kWh generated from renewables is not included in multiple contracts of sale;
b)    additional measures to foster transparency, avoiding to reduce the possibility of diversifying offerings and promoting commercial products which respond to the needs and sensitivities of the different final customers.
 
With regard to para. a) above, ARERA proposed among others that, for purposes of verification, use should be made only of: i) the guarantees of origin referred to in Directive 2009/28/EC; and, pending the entry into force of the provisions concerning the guarantees of origin laid down in Legislative Decree 28/11, ii) the GOs referred to in the Ministerial Decree of 31 Jul. 2009. ARERA also proposed that selling companies might also use other certification labels and systems of a voluntary nature or managed by parties other than GSE; however, each contract of sale of energy qualifying as a contract of sale of renewable energy should be certified by guarantees of origin.
In its Decision of 28 Jul. 2011 - ARG/elt 104/11 concerning  conditions to promote transparency in the contracts of sale of renewable electricity to final customers - ARERA established that each renewable electricity contract should be certified by a number of guarantees of origin equal to the amount of electricity sold as renewable under the same contract. To this end, within 31 Mar. of the year following the one in which electricity has been supplied to final customers under contracts of sale of renewable energy, each selling company should obtain a number of guarantees of origin, equal to the electricity sold as renewable and pertaining to the same year, and give proof thereof to GSE under the procedures defined by GSE itself.
A “guarantee of origin” is the document referred to in art. 15 of Directive 2009/28/EC. It is aimed at giving proof to final customers of the share or amount of renewable energy in the fuel mix of a given energy supplier. Pending the implementation of art. 34 of Legislative Decree 28/11, the term “guarantee of origin” shall coincide, for the purposes of the above Decision, with the GOs used by GSE for the purposes mentioned in the Ministerial Decree of 31 Jul. 2009.
 
Furthermore, the guarantees of origin (GOs) may be traded in the appropriate venue organised by GME, i.e. freely traded or awarded under the auctioning procedures referred to in para. 4.2. In the latter two cases, holders of bilateral contracts as well as awardees are required to register the volumes and prices at which the guarantees of origin have been traded on GME’s electronic platform.
 
The types of GOs which may be traded in the appropriate venue organised by GME refer to the following renewable energy sources:
a)         hydro;
b)         wind;
c)         solar;
d)         geothermal;
e)         other.
 

The GO Market organised by GME provides liquidity, transparency (the prices set in the market will be of public domain and accessible for all) and security (in the market, GME acts as CENTRAL COUNTERPARTY, guaranteeing the payment of transactions).
 
Sessions usually take place on a monthly basis, under the continuous trading mechanism. The dates of the sessions are posted in the “How to operate” section.

 

Skip Navigation Links