Prepared by Energy Team
Through the Decree no. 34 of 19 May 2020, published on the Italian Official Gazette on 19 May 2020 (the “Decree”) the Italian Government has introduced multiple relevant novelties in relation to several regulatory frameworks including that one related to the energy efficiency field, providing specific measures aimed at supporting the Italian white certificates schemes (including that related to High Efficiency Cogeneration – “HEC”).
Particularly, reference is made to article 41 of the Decree (“Urgent measures aimed at supporting the white certificates schemes”) pursuant to which:
- the deadline for the verifications related to the achievement of 2019 energy saving goals (equal to 2.77 million of white certificates as to electricity and to 3.43 million of white certificates as to natural gas) shall be postponed to 30 November 2020 (by way of derogation from the terms provided under the Decree of the Ministry of Economic Development 11 January 2017, the “DM 2017”, according to which the final deadline should have been 31 May 2020);
- the terms for the issuance of the white certificates by the Gestore dei Servizi Energetici (“GSE”) shall start from 15 November 2020 (by way of derogation from the terms provided under the DM 2017, according to which the white certificates should have been issued starting from 15 May 2020).
This provision is aimed at guaranteeing more flexibility to the energy efficiency titles market so to allow the relevant operators to have an appropriate timing in order to recover their business after the COVID-19 emergency (as well as in the light of the restricted liquidity characterizing the white certificates market as to 2018 energy saving goals).
Article 41, paragraph 2 provides further measures aimed at supporting the white certificates schemes with particular reference to cogeneration units entered into operation starting from 1 January 2019, establishing that, upon a prior verification to be performed by the GSE, the white certificates related to the energy savings achieved by these units shall be issued starting from the date of their entry into operation and for the related period of time regulated under the Decree of the Ministry of Economic Development 5 September 2011 (the “DM 2011”) (i.e. depending on the typology of cogeneration unit, 5 or 10 or 15 solar years)
This latter provision allows to increase the liquidity of the white certificates market in respect of HEC units recently constructed, anticipating the beginning of the relevant reporting period (periodo di rendicontazione) at the date of entry into operation of the HEC units (by way of derogation from the DM 2011, which provides that the relevant reporting period should start from the year subsequent to that one in which the HEC entered into operation).
In few words, with the entry into force of article 41, paragraph 2 of the Decree is no more necessary to wait 1 January of the year subsequent to that one related to the entry into operation of the HEC unit in order to start benefitting from the white certificates scheme; this, particularly, in order to protect and safeguard the business plans and the investments made by the relevant market operators.
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