Markets

Energy Efficiency
Certificates (TEE)

Energy Efficiency Certificates (TEE), also called white certificates, were established by the Decrees adopted by the Ministry of Productive Activities in consultation with the Ministry of 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 subsequently amended and supplemented. 
 
 TEEs are issued by Gestore dei Mercati Energetici (GME) to parties as referred to in Article 5 of the Ministerial Decree of 11.01.2017, on the basis of energy savings achieved and reported to GME by Gestore dei Servizi Energetici – GSE S.p.A. (GSE), pursuant to applicable dispositions. GME also issues TEEs referred to certificates of type II, which give proof of energy savings obtained in high-efficiency cogeneration plants (CAR). These savings are certified by GSE in compliance with the Decree of the Minister of Economic Development of 5 Sep. 2011. 

The entities under obligation, (i. e. the Electricity and natural-gas distributors) may achieve their energy efficiency improvement targets both by implementing energy efficiency projects (and gaining TEEs) and by purchasing TEEs from other parties. GME organises and manages: 

a. the venue where TEEs are traded (TEE Market) in compliance with the Rules of Operation of the Energy Efficiency Certificates Market (adopted by ARERA’s Decision no. 67 of 14 Apr. 2005 and subsequently amended and supplemented. 

b. the TEE Register, i.e. the electronic database of energy efficiency certificates consisting of ownership accounts.