Italy grid sets green certificates at 0.084 euros
Date: 09-Aug-02
Country: ITALY
The grid issues the tradeable certificates to renewable energy producers, who can then sell them to companies which are required by law to use a certain quota of green power. In Italy that quota is two percent.
The certificates allow buyers who are below quota to emit carbon dioxide, widely seen as a contributor to global warming, and the proceeds give renewable energy producers another source of income.
"For the year 2002, we have fixed the price of our green certificates at 8.418 cents per kilowatthour," GRTN said in a press release.
The EU wants to raise the share of renewable energy to 22 percent of total energy consumption by 2010 from around 14 percent at present.
But while European demand for green certificates is predicted to increase over the next few years as countries try to meet the EU target, Italian firms did not snap up all avaliable certificates.
GRTN said supply of the green certificates had far outstripped demand, with 3.3 billion kilowatt hours requested out of a potential 5.5 billion.
"But in our country the market in green certificates has all the potential to reach this level," GRTN added.
