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The Italian White Certificate Scheme
Cost of EEO scheme & cost recovery mechanism
ALBERTO PELA Regulatory Affairs Unit
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Non solo energia elettrica
Agenda
ü GSE’s role & Italian White Certificates Scheme
ü Cost of EEO scheme & cost recovery mechanism
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Ownership 100%
MEF Ministry of
Economy and Finance
MSE Ministry of Economic
Development (with others Ministries)
AEEGSI Regulatory Authority
for Electricity, Gas and Water
Decisions Guidelines
MISSION: GSE promotes the development of renewable energy sources and energy efficiency in Italy, by gran9ng economic incen9ves and suppor9ng the policy makers
About Energy Services Operator -‐ GSE
Electricity market, natural gas market and environmental markets
Research on the energe9c system
Purchase of electricity for small customers
Ownership 100% Ownership 100% Ownership 100%
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Managing of different systems for the promoHon of RES, CHP and Energy Efficiency (qualifying plants, carrying out technical inspec9ons on plants, issuing incen9ves, re-‐selling in the market of the RES-‐electricity purchased, collec9ng different types of data from plants through �a satellite system, etc.)
§ Support schemes for RES electricity
• Green CerHficates: issuing GC and monitoring compliance of producers and importers obligated;
• Feed-‐in Tariff (incen9ve + compensa9on for the energy sold)
• Energy Services for RES and CHP electricity
§ Support schemes for thermal RES and Energy Efficiency
• White cerHficates and other specific incenHves (i.e: Hea9ng Account).
GSE – OUTLOOK AND MAIN ACTIVITIES
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ACTIVITIES
ON-‐SITE & ADMINISTRATIVE INSPECTIONS: THE ONLINE DATABASE
GSE REALIZES TECHNICAL INSPECTIONS AND
VERIFICATION ACTIVITIES RELATED TO RES AND EE
SCHEMES
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The Italian NaHonal Energy Strategy and EED implementaHon
ReducHon of GHG emissions Ml Ton CO2/anno
466472
575 -18%
2005 EU target 2020
NES target 2020
RES Development Impact on total consumpHons %
10
2005 EU target 2020
NES target 2020
Energy Efficiency Primary energy ConsumpHon Mtoe
158
167
209
-20%
2005 EU target 2020
NES target 2020
17
20
-19%
-24%
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Italian Lgs. Decree 102/2014: TransposiHon of the EU Dir. 2012/27/EU
47%
3%
33% ArHcle.7-‐ Energy efficiency obligaHon schemes
Expected contribu>ons from the various incen>ve mechanisms 2014-‐2020
The Ar9cle 7 of the EU Direc9ve 2012/27/EU on Energy Efficiency requires from Member States to apply an energy efficiency obligaHon scheme or alternaHve policy measures that would deliver a certain amount of end-‐use energy savings over the 2014-‐2020 period.
ImplementaHon of the EE DirecHve into naHonal law (Lgs. Decree 102/2014)
Sectors WhC Regulation & Standard
Sustainable
Mobility
Tax Relief
Heating Account
Residential X XX - XXX X
Services X XX - XXX X
Public sector
X X - - XXX
Industry XXX X - - -
Transport X XXX XXX - -
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White CerHficates or TEE Energy Efficiency CerHficates, are one of the most relevant tools to promote the energy efficiency in Italy:
q The Scheme, introduced in 2004 (Decree July, 20th 2004) has been improved during following years (Decrees 21th Dec 2007, May 30th 2008 and 28th Dec 2012)
q electricity and natural-‐gas distributors with more than 50000 costumers are required to achieve yearly quanHtaHve primary-‐energy saving targets, expressed in Tonnes of Oil Equivalent (TOE) saved.
q White cer9ficates are tradable instruments giving proof of the achievement of end-‐use energy savings through energy efficiency improvement ini9a9ves and projects
White CerHficates Scheme – Regulatory framework
Only addi.onal savings are considered i.e. “over and above spontaneous market trends and/or legisla>ve requirements”
WC Htle cerHfies that a certain reducHon of energy consumpHon has been obtained 1 WhC = 1 saved toe (tonne of oil equivalent) 1 WhC = 100€ (originally, they are tradable) WhCs hold up 5 o 8 years, depending from the type
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Par9es eligible to submit projects for accruing white cer9ficates are: -‐ electricity and gas distributors with more than 50,000 final customers (“obliged
parHes”) and their controlled companies; -‐ non-‐obliged distributors; -‐ companies operaHng in the sector of energy services (ESCOs); -‐ companies or organizaHons having an energy manager or an ISO 50001-‐cer9fied
energy management system in place. Market (na9onal energy stock exchange or bilateral
agreements) defines WhCs price.
White CerHficates Scheme – Regulatory framework
The na9onal Decree of 28 Dec. 2012 have set naHonal quanHtaHve energy-‐saving targets -‐ incremental over Hme -‐ for electricity and gas distributors for the years from 2013 to 2016.
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Italian White CerHficates: fulfilment of the obligaHons
Distributors can fulfill their
obliga9ons of Whc (each year by 31 May)
by
Obtaining WhC from GSE, through the implementa9on of
energy efficiency projects
Purchasing WhC from third-‐party
Spot Market, managed by GME,
and regulated by AEEGSI
Bilateral Agreements with eligible par9es (voluntary or obliged)
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Italian White CerHficates: eligible subjects
Non-‐obliged electricity and natural gas distributors
E.S.Co Energy Services Company
Companies with an energy manager, appointed according to Law 10/1991
Companies with an energy manager, appointed on a voluntary basis
Companies cerHfied ISO 50001
Obliged electricity and natural gas distributors
Obliged Parties - (Demand) Volunteer Parties (Supply)
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ENEL S.P.A. 3,64 M.WhC
85%
ACEA S.P.A. 0,20 M.WhC
5%
A2A S.P.A. 0,17 M.WhC
4%
Other 10 Distributors 0,25 M.WhC
6%
13 Electrical Distributors: 4.26 Million of WhC
ITALGAS S.P.A.
0,82 M.WhC 23%
2i RETE GAS S.P.A.
0,67 M.WhC 19%
HERA S.P.A. 0,26 M.WhC
7%
A2A RETI GAS S.P.A. 0,23 M.WhC
7%
OTHERS 44 Distributors 1,52 M.WhC
44%
48 Natural Gas Distributors: 3.49 Million of WhC
1 distributor has almost 50% of the obligaHon 6 distributors have 75% of the obligaHon
61
Italian White CerHficates: obliged distributors (2015)
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Italian White CerHficates: acHve subjects on scheme (2015)
2,48
3,04 3,49
4,28
17 39
967
117 89
4
0
200
400
600
800
1000
1200
Electrical Distributors
Natural Gas Distributors
E.S.Co. Energy Manager (Obliged)
Energy Manager (Volunteer)
ISO 50001
-‐ 1233 acHve subjects, 78% E.s.co.
-‐ Distributors generate only 4,7% of WhC
-‐ 96% of WhC have to be traded
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White CerHficate Trading System: spot market & bilateral agreements
Demand
3,04 3,49
Regulated Spot Market
Supply
Obliged ParHes
Volunteer ParHes
Bilateral Agreements
Par.es have to communicate to
GME • N° of WhCs • price of each
agreement
WhC
WhC €
€
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White CerHficate Trading System: cumulaHve volumes traded
2,48
16,6
31,4
0
10
20
30
40
50
60
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Bilateral Agreements
Regulated Market
• 48 millions of WhC traded • 35% on regulated market -‐ 65% by bilateral agreements
• 36 millions of WhC emiKed
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WC issued 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2006-‐2015
RVC-‐C Final 57.007 70.164 174.155 423.848 781.212 1.151.267 3.708.546 4.845.379 6.155.306 3.123.642
RVC-‐S Standard 412.677 684.242 1.211.331 2.079.341 2.436.148 1.936.610 1.910.538 984.972 1.156.294 1.597.855
RVC-‐A Analy>c 86.928 2.521 2.506 2.888 28.880 245.795 120.396 288.195 217.370 179.327
Total 556.612 756.927 1.387.992 2.506.077 3.246.240 3.3336.72 5.739.480 6.118.546 7.528.970 5.029.064 36.203.580
White CerHficates issued – 2006 /2015
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Italian White CerHficates: achievements year 2015
Civil 32%
LighHng 4%
Industrial 64%
Of which: • 1.604.891 (IND-‐T: “Industrial Heat” -‐ Industrial processes:
genera9on or heat recovery for cooling, drying, burning,
mel9ng)
• 325.896 (IND-‐E: “Industrial Efficiency” -‐ Industrial
processes: efficient dry systems (motors, etc.)
automa9on and power factor measures)
• 165.748 (IND-‐GEN: “Industrial Genera9on” -‐ Industrial
processes: electricity genera9on from renewable
sources, heat recovery or cogenera9on)
• 1.029.566 (IND-‐FF: “Industrial FF” Industrial processes:
interven9ons other than the above, for the energy
op9miza9on of produc9on processes and plant layout
designed to achieve a las9ng energy consump9on
reduc9on normalized by quan9ty and quality of
produc9on)
3.126.101 WhC were issued to the Industrial Sector (64%)
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Cost of EEO scheme and cost recovery mechanism
Considering the rate contribution of EUR 105,83 / TEE, the total economic burden on the fulfillment of the objective 2014 (including the 2013 compensation) amounted to EUR 617.725 .693 for obligated parties (distributors of electricity and methane gas).
Pre-arranged contribution it is defined during the beginning of the year (June1)
C PREARRANGED(t+1) = = C DEFINITIVE(t)* [100 + 0,5 *
* E(t+1)]/100
Definitive contribution It is defined at the end of the year (June2) CDEFINITIVE(t) = = CPREARRANGED(t) + k * * [(S(t) – CPREARRANGED(t)]
The EET cost is defined by AEEGSI considering the EET yearly market: • The TEE definitive contribution on 2014 was 105,83 €/TEE • The TEE prearranged contribution for 2015 was 108,13 €/TEE • The TEE definitive contribution on 2015 was 114,83 €
The cost of EET mechanism relapsed on the electricity & gas customer’s bills (see acronym UC7 on Italian electricity bill -spesa per oneri di sistema).
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GME data
Correlation between the EET market exchange prices of the individual sessions and definitive tariff contribution :
Cost of EEO schemes and cost recovery mechanisms
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Penalties/Fines: in case a DSO does not fulfill at least 60% of its annual target, AEEGSI will inflict a fine case by case approach on the basis of the lacking certificates and on the market situation. If 60% of the DSO target is reached, fines are not applied. In both cases the following year target of the defaulting DSO is increased by the amount of lacking WhC.
Proponent costs: Starting from January 2015 GSE’s activities and the evaluation activities carried on by ENEA and RSE are covered by a fee the operators/proponents pay when presenting a project or communicating the measures year by year for simplified monitoring plan and monitoring plan projects. The fees are: Fixed fee in the range 100-2,500 euro depending on the size and type of project and variable fee of 1.1 euro per issued certificate for projects above 100 certificates per year.
Cost of EEO schemes and cost recovery mechanisms
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- WhC Prices are transparent and public
- High participation from Private Sector thanks to ESCO involvment (defined by a regulatory framework). Positive consequences on SME growth and local development
- Both WhC market options are useful and considerated by the obliged parties (bilateral agreements: 64%; EET market: 35%)
- The Industrial sector recognizes in the Whc Scheme a stable investment opportunity
- No burden on Public finances (difference beetween RES’s schemes)
- Verification activities are necessary to ensure the WhC scheme operation
- Most effective support scheme (in term of €/tep saved)
- It is a market scheme, regulations define categories of the projects and subjects directly eligible, the m a r k e t s e l e c t s t h e technologies and sectors
- Mechanism evolved over the 10 years of experience (Civil sector -> Industrial sector)
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