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indicate that all the targets from the 3 x 20 by 2020package are only complementary. Historicallyspeaking, the climatic objective - reduction ingreenhouse gas emissions - comes first. The community system of greenhouse gas emissionallowance trading and the Kyoto Protocol mechanismshas created the framework to evaluate an EmissionReduction Unit (ERU) and Certified EmissionReduction (CER). All these units are equivalent to1MgCO2eq. In Poland, where fossil fuels dominate inthe process of energy production, each measureintended to improve energy efficiency means directly areduction in greenhouse gas emissions. We can argue that the reduction in the end user energyconsumption is the most efficient measure to reducegreenhouse gas emissions in Poland. The volume ofCO2 emissions of the power engineering system inPoland ranges from 0,85 to 1 Mg CO2/MWh producedand supplied to the network (depending upon themanner of calculation and the source of data). tonnes of oil equivalent (10 toe) on average per year,may be submitted for the procurement tender, wherebythe period of energy saving must be at least 15 years.If the period of energy saving is shorter than 15 years,the awarded value of the white certificate is calculatedaccording to the formula given in the draft of the EEL:Oz = Ozj x Ep(Oz - replacement fee [PLN]. Ozj - unit replacementfee not lower than 900 PLN and not higher than 2700PLN per one tonne of oil equivalent. Ep - amount ofprimary energy, expressed in tonnes of oil equivalent.)Companies obliged to provide white certificates shouldobtain a corresponding number and submit them tothe President of ERO to be redeemed, otherwise acompensation fee will need to be paid. The experiencein the functioning of the White Certificates System inother European States indicates that thecompensation fee creates the value of the certificateprice and therefore should be high enough to makeinvesting in energy saving profitable. The companywhich receives a certificate of energy efficiency shouldimplement the undertaking and perform an audit ofenergy efficiency to confirm energy saving obtained asa result of that undertaking being implemented. White Certificates will be converted into a transferablecommodity carrying a property right, which can betraded at the Stock Exchange or in OTC transactionsregistered by the Exchange. One White Certificate mayamount to a large volume of energy saved, however oneproperty right should always correspond to only onetonne of oil equivalent (1 toe = 41,9 GJ) saved as aresult of implementation of the undertaking serving toimprove energy efficiency. The following positive results are expected after theintroduction of the System of White Certificates inPoland:. improvement in energy efficiency leading to therationalisation of energy prices;. an increase in the competitiveness and innovativenessof the whole economy; . measurable energy saving; . providing an incentive for the energy generation,transmission and distribution sector to undertakeprojects aiming to increase the efficiency of energygeneration and to reduce the energy losses intransmission and distribution. The functioning of the System of White Certificates isto be supported by 3 per cent of the value of sales inthe fuel and energy sector, which will constitute anamount of approximately PLN 2,55 billion. AND WHERE ARE THE REMAINING TWO 20S? Many statements by the European CommissionREGIONAL 044PERSPECTIVESBelow: WojciechPiskorski (left) and KatarzynaWojciechowska (right)