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III. NATIONAL ACTIVITIES ITALY 12.4 Market Development and Stimulation In Italy, since 1 January 2003, the Bersani Decree requires producers or importers of electricity from non-renewable sources to deliver to the grid a share of electricity generated from renewable sources. This provision gave rise to the “Green Certificate” market. The Green Certificate proves that a certain amount of energy is produced by renewable resources with each certificate representing 50 MWh of electricity (The original provision of 100 MWh for each green certificate, the Decree of the Minister of the Industry of 11 November 1999, has been recently reduced to 50 MWh by the Law nr. 239/2004, known as “Marzano Law”). It does not matter what the source of renewable energy is, but it is necessary that this energy be produced by new plants or by plants re-powered, rebuilt or re- activated, which begin operation after 2 April 1999. Green certificates apply for the first eight years of plant operation. For the first year (2002), a share of 2% was established. According to Decree n° 387/2003, issued on 31 January 2004, which enforces in Italy the European Directive 2001/77/EC on the promotion of the electricity from renewable sources in the internal market, this share is increased to 2.35% in 2005. In addition, an annual increase of 0.35% is established for the two following years (2.7% in 2006 and 3.05% in 2007). The Decree also states that the Minister of Industry will fix the shares for the years 2008-2010 by 31 December 2004 and the shares for the years 2011-2013 by 31 December 2007. Green Certificates will be exchanged between producers and importers in an open market. In order to carry out this exchange, the Electric Market Authority will promote the negotiation of the certificates. As a consequence, the value of the kWh generated from renewables is the sum of the base price of the energy and of the market value of the Green Certificates (the latter is limited to the first eight years of plant operation). For 2004, the value of the Green Certificates was 9.739 €-cent/kWh. Producers and importers can also comply with the decree by importing electricity generated from renewable energy plants of foreign countries adopting similar policies for renewable energy promotion. State incentives for the use of heat from geothermal sources are also provided. They consist of: • Incentive to the end users of 10.33 €/MWt on a permanent basis plus 15.49 €/ MWt to be confirmed every fiscal year. The latter has been recently confirmed for 2005 by the budget Law (Law nr. 311/2004) • Incentive to the developers for new supplies or for the increase of the existing ones is 20.66 €/ MWt 12.5 Development Constraints As a consequence of the lower cost of fossil fuel generation, geothermal generation needs incentives, e.g. Green Certificates. Therefore, geothermal development is limited, on the one hand, by the amount of electricity that can benefit from Green Certificates and, on the other, from the competition with other renewables. This competition favours the renewable sources with the lower generation cost. IEA Geothermal R&T Annual Report 2004.doc 73PDF Image | Geothermal Energy Annual Report 2004
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