White certificates are securities that certify the energy savings achieved by various parties through the implementation of specific interventions (example: energy efficiency) and apply the recognition of a financial contribution, representing therefore act as an incentive to reduce energy consumption in relation to the good distributed.
White certificates are part of the concept of measure of economic support energy efficiency and thermal energy production from renewable sources. The legislative approach is based on the obligation by the major energy suppliers to promote actions leading to the general improvement of technology and energy saving.
The main rules governing the matter are the law number 481 November 14, 1995, the decree of 16 March 1999 n. 79, Legislative Decree 164 of 23 May 2000 and a number, rather large, the deliberations of the Authority for Electricity and Gas (number 103/03, 234/02, 111/04, 2/10 and 9 / 10).
White certificates, to want to give a definition, can be configured as negotiable securities in fixed size, that is subject to the laws of supply and demand in the market. Each of them is saving a TOE (tons of oil equivalent).
They are divided into four types:
- Quote of Type I: certify the achievement of energy savings through a reduction of electrical energy consumption;
- Quote of Type II: certify the achievement of energy savings through reduced consumption of natural gas;
- Quote of Type III: certify the achievement of energy savings through a reduction in the consumption of other fossil fuels (provided they are not used for vehicles);
- Quote of Type IV: certify the achievement of energy savings through a reduction in the consumption of other fossil fuels (as long as used for vehicles).
Quotes are separate as they may have different prices. White certificates are for a time equal to a calendar year (the results obtained during the solar efficiency) but are valid until 2013. Beneficiaries can sell them in the years following the year of issue.