  White dwarf spectra have been widely used as a calibration source for X-ray
and EUV instruments. The in-flight effective area calibration of the reflection
grating spectrometers (RGS) of XMM-Newton depend upon the availability of
reliable calibration sources. We investigate how well these white dwarf spectra
can be used as standard candles at the lowest X-ray energies in order to gauge
the absolute effective area scale of X-ray instruments. We calculate a grid of
model atmospheres for Sirius B and HZ 43A, and adjust the parameters using
several constraints until the ratio of the spectra of both stars agrees with
the ratio as observed by the low energy transmission grating spectrometer
(LETGS) of Chandra. This ratio is independent of any errors in the effective
area of the LETGS. We find that we can constrain the absolute X-ray spectrum of
both stars with better than 5 % accuracy. The best-fit model for both stars is
close to a pure hydrogen atmosphere, and we put tight limits to the amount of
helium or the thickness of a hydrogen layer in both stars. Our upper limit to
the helium abundance in Sirius B is 4 times below the previous detection based
on EUVE data. We also find that our results are sensitive to the adopted
cut-off in the Lyman pseudo-continuum opacity in Sirius B. We get best
agreement with a long wavelength cut-off. White dwarf model atmospheres can be
used to derive the effective area of X-ray spectrometers in the lowest energy
band. An accuracy of 3-4 % in the absolute effective area can be achieved.
