Energy Saving

No new Energy Saving projects have been launched in 2010. Activities focused on the monitoring of current projects, especially with regard to those with final certification method.

In particular, distribution companies encountered difficulties in compliance with the Energy Efficiency Bond regulations, as regards the 2009 obligation, essentially due to a lack of energy efficiency bonds on the market; said phenomena led to a market price higher than the refund expected in fees during this period.

Therefore, distribution companies, through the trade associations (Anigas –FederUtility), requested and obtained (see consultation document 43/2010 of the Italian Authority for Electricity and Gas) intervention at regulatory level for the resolution of the following problems:

  • blocking of fines against distributors for the non-fulfilment of 2009 targets in view of the EEB market reform;
  • easier assignment of EEB for projects being evaluated by the Italian Authority for Electricity and Gas to allow for sustainability and the effective achievement of targets;
  • reform of the mechanism provided for by the 2004 Ministerial Decree, which does not ensure the sustainability of future targets, and the adoption of a model similar to the model in effect in the Green Certificate markets, managed by GSE.

Within this framework, Acea Distribuzione has been the only company able to reach its objectives thanks to the availability of bonds resulting from energy saving initiatives entered into with Acea R.S.E..

No new energy savings projects were therefore required, but it has been deemed more appropriate to focus on the monitoring of existing projects, with special attention to projects with a final certification.

Another bilateral sales agreement was stipulated with a leading distribution company, subject to the obligations set out in the energy efficiency decrees, for a total quality of EEBs of roughly 130,000 for the 2010 and 2011 targets.
These sales agreements are subject to the development of type I, II and III bonds (to date all equivalent in terms of market value and use for obtaining incentives, as per Resolution EEN 36/08). 

Lastly, for the last two years of applicability of the decree, significant growth was recorded in Acea Distribuzione objectives (Resolution AEEG EEN 18/10), in relation to the increase in the amount of energy distributed by the company compared to other domestic distribution companies.
The acquisitions of type I and II bonds are described in Figure 1, while those regarding type III bonds are shown in Table 2.

Fig. 1 - Performance of EEBs (Energy Efficiency Bonds), Type I and II, resulting from the initiatives reported.

Figura 1 - Grafico evoluzione TEE

Table 2 – Performance of EEBs (Energy Efficiency Bonds), Type III, resulting from the initiatives reported.
Year 2008 2009 2010 2011 2012 Total
EEB, Type III (1) 9,293 5,695 5,695 5,117 2,674 28,474
(1) 2008 figures are cumulated with previous years’ bonds.

The number of EEBs assigned to third party companies from the start of applicability of the decrees until the end of 2010 came to 418,411 for Type I, 88,435 for Type II and 14,827 for type III, with an overall total of 521,673 EEBs.

Fig. 3a - Average price trend of EEBs - Type I

Figura 3a – Trend del prezzo medio dei TEE di tipo I

Total Type I bonds exchanged on the market 1,788,037
Weighted average price, with exchanges 78.35

Fig. 3b - Average price trend of EEBs - Type II

Figura 3b – Trend del prezzo medio dei TEE di tipo II

Total Type II bonds exchanged on the market 793,210
Weighted average price, with exchanges 84.61

Fig. 3c - Average price trend of EEBs - Type III

Figura 3c – Trend del prezzo medio dei TEE di tipo III

Total Type III bonds exchanged on the market 155,235
Weighted average price, with exchanges 82.16

In relation to the trend in exchanges on the platform managed by GME (Electricity Market Operator), a slowdown was recorded in growth over the last few years, without doubt linked to the lack of EEBs illustrated previously. (table 4)

Tab. 4 – EEBs exchanged on the GME market

EEB 
Year I II III Total
2006 22,664 11,564 76 34,304
2007 167,502 58,639 10 226,151
2008 377,059 114,194 29,761 521,014
2009 640,124 285,843 49,311 975,278
2010 580,688 322,970 76,077 979,735
Total EEBs 1,788,037 793,210 155,235 2,736,482