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Under article 5 of Legislative Decree no. 79 of 16 March 1999, "Gestore del Mercato Elettrico S.p.A." (GME) is the company vested with the organisation and economic management of the electricity market, i.e. the regulated wholesale electricity market, commonly known as "Italian Power Exchange" (Ipex).
GME is fully owned by the company "Gestore dei Servizi Energetici - GSE S.p.A." (GSE), which is in turn fully owned by the Italian Ministry of Economy and Finance. GSE has also full control of the company "Acquirente Unico S.p.A." (AU).
The creation of GME is part of the wider process of liberalisation of the electricity sector, which was started in 1999. The mission of GME is to favour the development of a competitive national power system.
To date, GME has been one of the main institutional reference entities of the electricity sector. As such, it plays a key role together with the other institutional entities of the sector (Italian Ministries of Economic Development, of Economy and Finance, "Autorità di Regolazione per Energia Rete e Ambiente" – AEEG, the Italian electricity & gas regulator - etc.).

The power exchange - a fundamental instrument for creating a competitive electricity market in Italy - favours the setting of efficient clearing prices, which enable producers and wholesalers to sell and buy electricity where it is most cost-effective. Moreover, the power exchange ensures transparency and security of trades to its Participants. Indeed, GME fulfils its responsibilities by ensuring neutrality, transparency, objectivity and competition between producers, in accordance with the Decree that established it.

In particular, GME manages the "Mercati dell’Energia" (Energy Markets), which consist of: i) the "Mercato a Pronti dell’Energia" (Day-Ahead Market – MGP), i.e. Day-Ahead Market, "Mercato Infragiornaliero" (Intra-Day Market - MI) and "Mercato per il Servizio di Dispacciamento" (Ancillary Services Market - MSD); and ii) the "Mercato a Termine dell’Energia con obbligo di consegna fisica dell’energia" (Forward Electricity Market with obligation of physical delivery of electricity - MTE). Since 2007, GME has also been operating the "Piattaforma dei Conti Energia a Termine" (Forward Electricity Account Trading Platform - PCE).
On this platform, operators who trade electricity bilaterally off the energy markets register their commercial obligations and nominate the related injection and withdrawal schedules. GME is not only active in the electricity sector, but also participates in the implementation of Italian environmental policies, by managing the "Mercati per l’ambiente" (Environmental Markets): "Mercato dei Certificati Verdi" (Green Certificates Market - MCV), "Mercato dei Titoli di Efficienza Energetica" (Energy Efficiency Certificates Market – MTEE) and "Mercato delle Unità di Emissione" (Emissions Trading Market – MUE). Through these markets GME promotes the development of renewables, the increase of energy savings and the reduction of greenhouse gas emissions. Indeed, the market is an instrument through which companies may make environmentally sustainable choices while minimising their overall costs.

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Concern about environmental protection grows proportionally with scientific and technological development, which creates well-being and wealth, as well as environmental hazards and risks. Commitment to achieving major energy conservation and greenhouse gas emission reduction targets envisages scenarios that may be implemented by means of focused measures. These measures may not only yield well-known environmental benefits, but also increase working opportunities.
Market mechanisms have been introduced in Italy to support environmental protection measures. These measures permit to curb harmful emissions into the atmosphere by developing electricity generation from renewable energy sources, enhancing energy efficiency in industrial processes and applying new technologies.
The activity of Gestore dei Mercati Energetici S.p.A. (GME) fits within this framework. In addition to managing the Italian Power Exchange, GME is directly engaged in favouring the implementation of environmental protection policies, by organising and managing Environmental Markets, such as: the Green Certificates Market, the Energy Efficiency Certificates Market and the Emissions Trading Market. These markets, which are fully in line with international and national legislation, enable companies to pursue not only economic goals, but also environmentally sustainable choices.
With the publication of the Vademecum of GME’s Environmental Markets, GME intends to give a picture of the scenario where it carries out its activity and provide an easy tool to improve the understanding of its Markets and of their advantages.

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An easy-to-use and lean guide, whose main aim is to describe the modes of access to the renewables market in a straightforward but comprehensive way.

These are the goals of the publication issued jointly by "Gestore dei Mercati Energetici SpA" (GME) - the company in charge of organising and economically managing the Electricity Market and Environmental Markets, including the Green Certificates Market - and the "Associazione Produttori Energia da fonti Rinnovabili" (Aper – association of renewable power producers).

The guide is the result of the work of two teams (GME and Aper), which shared their skills and expertise. In a clear and detailed way, the guide gives insight into: i) national legislation governing the sale of power generated from renewables; ii) support mechanisms and their features (Green Certificates, all-in tariff); and iv) opportunities that the scheme offers to operators to sell their electricity: "ritiro dedicato" (purchase agreement with GSE) and "scambio sul posto" (net metering).

The publication is intended to give support to the activity of renewables operators and to allow non-specialists to get an understanding of a constantly evolving sector.

Download the Guide (Italian version only)

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download pdf (Italian version only)

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