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www.mercatoelettrico.org
Energy Efficiency Certificates (Italian acronym
TEE, also called white certificates) have been established by the Decrees issued
by the Ministry of Productive Activities jointly with the Ministry of the Environment
and Land Protection on 20 July 2004 (Ministerial Decree of 20 Jul. 2004 on electricity, Ministerial
Decree of 20 Jul. 2004 on gas), as amended and supplemented by the
Ministerial Decree of 21 Dec. 2007
specifying national quantitative targets of energy efficiency improvement.
GME issues TEE to distributors, companies controlled by the same distributors and
companies operating in the sector of energy services (Energy Service Companies –
ESCOs). The TEE certify the reduction of consumption achieved through measures and
projects of energy efficiency improvement.
TEE, which have a value of one toe, may be of three types:
1) Type I, certifying the achievement of primary energy savings through projects
reducing final electricity consumption;
2) Type II, certifying the achievement of primary energy savings through projects
reducing natural gas consumption;
3) Type III, certifying the achievement of primary energy savings through projects
other than those mentioned in points 1) and 2).
Electricity and natural gas distributors may achieve their energy efficiency
improvement targets
both by implementing energy efficiency projects (and gaining TEE) and by purchasing TEE from other parties.
GME organises and manages the venue for the trading of TEE and, jointly with
AEEG (AEEG’s decision no. 67 of 14 Apr. 2005), it formulated the rules
of operation of the Energy Efficiency Certificates Market.
In the Energy Efficiency Certificates Market:
- distributors may purchase certificates, if the savings achieved through their
projects lie below their yearly target and they thus have purchase the missing certificates
in the market in order to fulfil their obligation;
- distributors may sell certificates, if the savings achieved through their projects
exceed their yearly target and they may thus make a profit by selling their surplus
certificates in the market;
- ESCOs may sell the certificates that they have obtained through independent projects,
as they are not required to fulfil any obligation and may thus make a profit by
selling their certificates in the market.
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