DSM Spotlight – Mar 2012

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PARTICIPATING

COUNTRIES

dSmSpotlightThe Newsletter of the International Energy Agency Demand-Side Management Programme March 2012

continued on page 2

Note From the ChairmaN

Where do We Go Fro Here?

Do we know what we have to do to reduce enery use in a reallydrastic way? Frankly, the answer is yes.

Thats why its so disappointin when we dont et there as ast aswe need to and when politicians ive up on the topic all toether.

There are many reasons, but one o the more pressin reasons isthat we dont et the technoloy and eciency improvin strateiesacross to the end-user.

Well, those o us workin in the eld wont o down without a ht.

Havin said that, we have to realise that everybody develops blindspots in their work.

The IEA Demand Side Manaement Proramme has been in existenceor about two decades and has produced an impressive amount owork. But time moves on and so every ve years the members o

the DSM Proramme take a step back to reconize what has been

accomplished over the past ve years and a look orward to whatneeds to be accomplished over the next ve years.

Now this will be done in the usual thorouh manner. The IEA DSMExecutive Committee members will consult their overnments,riends and allies to come with directions o where to head and what

work should be undertaken. The result another challenin ve yearproramme.

Durin this process, it is necessary to look or all the input wecan nd. For instance, are there readers o this newsletter and

Austria

Belgium

Canada

Finland

France

India

Italy

South Korea

Netherlands

Norway

Spain

Sweden

Switzerland

United Kingdom

United States

SPONSORS

RAP

RAP

Regulatory Assistance Project JoinsIEA dSm Prograe

continued on page 2

In Auust 2011, the Reulatory Assistance Project ocially joined the DSM

Proramme as a Sponsor. RAP, as it is more amiliarly known, has beenworkin with the Proramme since April 2009, when it was invited toattend an Executive Committee meetin in Vienna. Thus bean what we

hope will be a continuin, productive collaboration. RAPs participationis led by Richard Cowart, Proramme Director or RAP-Europe, and RickWeston, RAPs Proramme Director or China, who both aree Werehonored and happy to be part o the Programme, and love learning rom

and with the Members and Operating Agents.

RAP is a lobal, non-prot team o experts ocused on the lon-termeconomic and environmental sustainability o the power and natural assectors. Most o RAPs work is providin technical and policy assistance

directly to policymakers and reulators, and as a rant-unded oranizationis oten able to deliver that assistance at lit tle or no cost. All o RAPsPrincipals and Senior Associates are ormer reulators or overnment

ocials, with expertise in reulatory and market policies that promoteeconomic eciency, environmentalprotection, system reliability, and consumer

welare. They are assisted by a team ointernationally-reconized power systemand DSM experts, includin some, like David

Crossley and Eoin Lees, who are well-known


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DSM Spotliht March 2012 | 2

RAP rom page 1

participants in our social networks that have

ideas that are resh and new? Are there methodsthat could help us speed up processes wereworkin on? Is there work that is hidden by our

blind spots?

I would like to challene all our readers and

ollowers to look at our material on the websitewww.ieadsm.or and in the 2011 Annual Reportunder Latt Rport and tell us what to add

to our work.

So please add to your To Do list or this week,o to:

Facebook group IEA-DSM LinkedIn group IEADSM Demand Side

Manaement Technoloies and Prorammes www.ieadsm.or

And then drop a line to Anne

Bentson, Executive Secretary,[email protected].

Rob Kool

Chair, IEA DSM Programme

Chairman rom page 1

to the DSM Proramme. RAP has worked extensively in the US since 1992 and in China since

1999. It bean work in the European Union in 2009, and opened oces in Brussels the nextyear.It has just added an oce in Berlin, and is currently establishin a proramme in India.

Ater ettin its eet wet in Vienna, RAP jumped headrst into the Prorammes work by joininDSM Task XXII, Energy Efciency Port olio Standards, to provide in-kind research and analysis.

The Task will survey a cross-section o jurisdictions that impose enery eciency obliationson enery companies and summarize best practices in this eld. The report will be completedthis sprin and presented durin the ExCo meetin in Trondheim in April. The subject matteris particularly timely, as the European Union is advancin leislation or an Enery Supplier

Obliation, and a number o countries, includin Australia, Poland and China, have recentlyadopted or are considerin adoption o such obliations.

Beyond direct DSM policies such as supplier obliations,

RAP has produced numerous research reports andhas delivered analysis and policy assistance on a hosto related issues across the power and as sectors.

RAPs extensive library o reports and trainin materials

covers such topics as rid expansion and renewablesinteration, power market reorm, tari structures and

rate desin, reulatory procedures, carbon cap-and-trade and emissions reduction strateies, and policies toet the most out o smart rids. (All o these materials

are available online or ree at www.raponline.or).

RAP brins to the partnership with the IEA DSM

Proramme a worldwide network o expertise in eneryeciency and power sector reulation and increasedaccess to policymakers in non-member countries, such

as China. Meanwhile, the DSM Proramme oers RAP

and its partners its own treasury o know-how and lessons learned, culled rom the researchand experience o many years. Part icipation in the IDSM Proramme is a valuable opportunityand natural link or RAPs rowin international practice.

This article was contributed by Richard Cowart [email protected] and Rick Weston

[email protected].

Follow on:

Facbook LinkdIn

Wr honord and

happy to b part of th

Programm, and lov

larning from and with

th Mmbr and

Oprating Agnt.

RICHARD COWART, DIRECTOR

EUROPEAN PROgRAMMES
http://www.facebook.com/groups/334127193974/http://www.facebook.com/groups/334127193974/http://www.linkedin.com/groups/IEADSM-DemandSide-Management-Technologies-Programmes-4270191?trk=myg_ugrp_ovrhttp://www.linkedin.com/groups/IEADSM-DemandSide-Management-Technologies-Programmes-4270191?trk=myg_ugrp_ovrhttp://www.linkedin.com/groups/IEADSM-DemandSide-Management-Technologies-Programmes-4270191?trk=myg_ugrp_ovrhttp://www.linkedin.com/groups/IEADSM-DemandSide-Management-Technologies-Programmes-4270191?trk=myg_ugrp_ovrhttp://www.ieadsm.org/ViewTask.aspx?ID=16&Task=22&Sort=0http://www.ieadsm.org/ViewTask.aspx?ID=16&Task=22&Sort=0http://www.linkedin.com/groups/IEADSM-DemandSide-Management-Technologies-Programmes-4270191?trk=myg_ugrp_ovrhttp://www.linkedin.com/groups/IEADSM-DemandSide-Management-Technologies-Programmes-4270191?trk=myg_ugrp_ovrhttp://www.facebook.com/groups/334127193974/


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XXI

Energy Savings Calculation:IEA dSm Progra & International Stanars

The work within DSM Task XXI, Standardizationo Enery Savins Calculations, dealing with theharmonization o energy savings calculations will

culminate with several reports posted on the IEA DSM

website and results being used by the International

Standardisation Organisation (ISO) in recently start

work on this topic.

Over the past three years, Task participants conducted

work on the ollowin key elements in enery savinscalculations: 1) the ormula(s) used to calculatethe annual enery savins, 2) specication o the

parameters, 3) baseline, 4) normalisation, 5) enerysavins corrections, and 6) lietime savins. Thereport, Harmonised Enery Savins, presents these

elements rom the perspective o an evaluator Am I ettin inormation on enery savinscalculations that helps me understand the dierences

in enery savins? The European Committee orStandardisation (CEN) used this work or the CENstandard prEN16212 (now in the ormal approval

phase) and uses these key elements too, while ivinthem more precise denitions and terms.

The inormation collected on case applications andpresented in the Tasks country reports, not onlymakes the key elements more understandable, but

also illustrates the impact o dierent choices onthe same type o case application in enery savinsprorammes. Additionally, the inormation in the

country reports provides a basis or uture examples

o bottom-up enery savins calculations in the CENstandard. They also will help the experts involved inthe ISO enery savins calculation work ISO/TC 257

to understand the application potentials o such astandard or comparable enery savins rom projectsand prorammes.

While the work on key elements and case applicationsts well in the work o standardization oranizations,a discussion has started on what tools could help to

stimulate the use o harmonized enery savins. Isthere a need or demonstratin the impact o choicesin the key elements by comparin enery savins with

a standardized one? Would it be helpul to have acalculation tool with the ormulas and parameters?Should the next step be to develop a rane o deault

values to make enery savins more cost-ecient?Discussion on these topics may result in new workwithin DSM Task XXI.

The results o this Task work will be presented in June2012 by the Task Operatin Aent, Harry Vreuls, at the

European International Enery Prorams EvaluationConerence (IEPEC) in Rome. The results also will beposted on the DSM Task XXI webpae.

This article was contributed by Harry Vreuls, Task XXI

Operating Agent, [email protected].

Reasons to evaluate energyefciency prograes

Ex-ante analysis of energy efciency policy

options can help to ensure that the most

appropriate policies are selected.

Evaluation during policy implementation

allows policy makers to address policydesin problems alon the way and orupdates to the policy measure to be madeas necessary.

Ex-post analysis of energy efciency

policies allows or an assessment o

whether a measure has achieved itsintended objectives or not, how andwhy, and thus can enhance learnin rom

the eectiveness or otherwise o pastmeasures.

Evaluation is essential for verifying

tradable units o enery conservation,such as in White Certicate Tradinprorammes and overnment

commitments to reduce reenhouse asemissions.
http://www.ieadsm.org/ViewTask.aspx?ID=16&Task=21&Sort=0http://www.ieadsm.org/ViewTask.aspx?ID=16&Task=21&Sort=0http://www.ieadsm.org/ViewTask.aspx?ID=16&Task=21&Sort=0


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norwaySart Gris The Norwegian Way

The power grid in Norway

needs upgrading. It was

designed to transer electricity

rom large power stations to

the customer, but new ways o

generating and utilizing electric

power is creating a need to

upgrade the power grid and

introduce new technology. TheNorwegian Smartgrid Centre is

leading the way.

Across most o Europe considerable sums havebeen invested in smart rids over the last decade.And in Norway, the transmission net is smart,

but the distribution net needs considerableinvestment startin with the installation o smartmeters and control systems, abbreviated AMS, in

all homes. This should be nished by the end o2016. The oundin, in 2010, o the Norweian

Smartrid Centre (www.smartrids.no) is meantto accelerate the introduction o smart rid inNorway.

In Norway, there is a lare production o

renewable enery throuh hydropower, anddurin the rowth o the power sector a stronsupply side ocus developed. This makes it

challenin or both end users and politicians torealize that we must also invest in smart enerysystems to take advantae o wind and small-

scale power plants, and implement more ecient

use o enery resources.

The Norweian Smartrid

Centre works on a broad rontto ensure that society has accessto the required expertise in the

establishment o, and adaptionto, a new and improved enerysystem. Our power rid was

developed between 80-120 years

ao, and is now outdated. Thecost o this essential uprade is

estimated at between 10 and20 billion NOK. The oal o the NSC is a sae andenvironmentally riendly system that utilizes the

power rid more eciently and an increase in theuse o renewable enery sources.

The Norweian Smartrid Centre isa collaboration between academiaand industry and unites research

and business. The research and

development partners in NSC are:Norweian University o Scienceand Technoloy (NTNU), SINTEF

(the larest independent researchoranisation in Scandinavia),Narvik University Collee, NCE

Halden, Norweian Universityo Lie Sciences and TrndelaR&D Institute. Major companies

like Telenor, Statnett, Statkrat,IBM, Simens, Hydro, Powel, ABB,Haslund, NTE, Istad, Lyse, and

others are industry partners in theCentre.

A "National Tam"The oal o the Norweian Smartrid Centre is toact as a "national team" in the area o smart rids,and thus position Norweian research roups in

relation to the authorities as well as internationalactivities throuh cooperation and joint projects.

Since its oundin, the Centre has succeeded

in creatin an arena or dierent industries,

companies and technoloies that wouldotherwise not have been able to benet rom

each other. Activities include research, teachin,testin and demonstration projects, businessdevelopment and commercialization. The

Centre provides important expertise to enery

60kV

132-150kV 10kVNettstasjon

Kraftverk

Havmlleparker

Nord Pool

Husstandsmlle

Kjlfrys

Kabelskap

Internett

Styresystemfor elforbruk

Varme-pumpe

0,4kV

Ladepunkt

Toveistimeavlest elmler

Elbil

Solceller

ILLUSTRASJON:TEKNISK UKEBLAD

continued on page 5


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suppliers and other operators, and in the lon

term, it hopeully will contribute to an increasedinternational competitiveness o the Norweianindustry.

To initiate and coordinate research in smart rid

technoloy is one o the most important areaso activity. To achieve this the Centre is ocusin

on establishin laboratories and ull-scale pilotprojects. Facilities o this type are important andwill contribute sinicantly to both research and

teachin. It will also provide opportunities or theindustry and suppliers to test their products inrealistic situations.

Conmr FlxibilityThe power rid in Norway is acin extensivemodernisation, with the countrys 2.5 millionelectricity meters bein replaced by smart meters.

The authorities have required that 80% ohouseholds have AMS meters installed by January2016. And by January 2017 every household in

Norway should have a smart meter. The industryitsel must clariy and resolve important issuesconcernin standards, technoloy and marketin

solutions. This clarication is critical to et done intime so that it can be implemented in each AMSproject.

The pilot project Smart Enery Hvaler addressesthis specic challene, and AMS technoloy wasintroduced or the rst time. The project ocuses

on consumer fexibility both in research anddevelopment activit ies.

By the end o 2011, the project had tted 6800homes, holiday cottaes and small commercialproperties with AMS meters. The established AMS

inrastructure and the collected empirical dataorm the basis or the proramme's project areas.

While the principal ocus o the pilot project in

Hvaler is on AMS meters, the purpose o the

Steinkjer Demo is to implement a wide rane o

smart rid initiatives. The Norweian SmartridCentre and the reional power companyNord-Trndela Elektrisitetsverk AS (NTE) are

collaboratin in this pilot project, which will act

as a test arena or a variety o technoloies. Howto optimize eciency o the power rid is one

o the key issues bein addressed. The projectincludes controllin pumps in the city o Steinkjerswater supply system, coordinatin various heatinsystems in schools, and remote controllin street

lihtin. In addition, 4500 AMS meters will beinstalled in homes and businesses. The projectaims to reduce power peaks by alterin the

consumption pattern.

Planning a Rarch Cntr

The Research Council o Norway has opened theway or establishin a research centre linked to

smart rid technoloy. The Norweian SmartridCentre, NTNU and SINTEF are workin toetherto establish such a centre or environmentally

riendly enery research, ocusin on smart ridtechnoloy.

There is no doubt that smart rids can be

an important tool in the transition to moresustainable enery systems. The challene is toet consumers and politicians to understand the

importance o this. As the head o the NorweianSmartrid Centre, Jan Onarheim, puts it "Wecannot revolutionize enery consumption alone,

political will is essential."

And, Norways collaboration in the IEA DSM

Prorammes new work on the role o demandside in deliverin eective smart rids will supportthese national activities.

This article was contributed byEven Bjrnstad, the

Norwegian DSM Executive Committee member. To

support Norways work,

Norway rom page 4

Th Cntr provid

important xprti to

nrgy pplir and

othr oprator, and in

th long trm, it hop-

flly will contribt to an

incrad intrnational

comptitivn of th

Norwgian indtry.
mailto:even.bjornstad%40enova.no?subject=mailto:even.bjornstad%40enova.no?subject=


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As promised in the December 2011 issue, another

fnancing option rom the IEA DSM Task XVI manual,

Financin Options or Enery Contractin Projects Comparison and Evaluation, will be discussed. This issueocuses on credit fnancing while the December issue

looked at leasing fnancing.

Credit (or loan) nancin means that a lender (FI)

provides a borrower (customer) with capital or adened purpose over a xed period o time. Borrowersin our case can be real estate owners, enterprises or

ESCOs and the credit is settled over a xed period otime, with a number o xed instalments (debt service).These instalments must cover the amount borrowed, plus

interest rates, as well as other transaction costs such asadministrative ees. Loans are disbursed aainst a prooo purchase in order to secure the earmarked use o the

unds.

A credit serves as an extension o the total amount o

capital that an enterprise can use to do its business(i.e., deliver services or produce oods). Credits also arereerred to as committed assets or loan capital. To

obtain a credit a creditworthy borrower is needed. Inother words, the borrower must be able to perorm thedebt service. It is assumed that this ability is linked to a

certain level o equity capital, typically 20-30% o theloan. The creditworthiness o the borrower (toetherwith the project chances and risks) will be refected in theamount o securities needed to cover the lender's risks

associated with handin out the credit. Where publicentities are debtors or in cases where credits are backedby public entities, credit ratins are enerally hih.

The ollowin raphs illustrate the basic cash fow

relationships or a typical credit nancin. The cash fowsdepend on whether the ESCO (enery service company)

or the buildin owner is the lender or the credit.

Some points to note in the ESCO nancin model are: The ESCO is responsible or the enery eciency

measures and renances the investments rom a credit

line. The customer pays a contractin rate, which includes a

nance share to the ESCO (subject to the perormance

o the ESCOs savins uarantee). The ESCO uses the nancin part o the contractin

rate to perorm the debt service.

The ESCO can cede (the nance share o) thecontractin rate to the FI, so thecustomer directly repays the ESCOs

debt.

Some points to note in the customernancin model are: The ESCO is responsible or the implementation o the

enery eciency measures and receives nancin romthe customer.

The EE investment is paid out o the customers creditline and respectively (in part) rom subsidies or rom

maintenance reserve unds. The customer payments or the

investment can be either a buildincost subsidy or the remuneration o

an equipment supply contract (in thelatter case, VAT is due on the completeinvestment at once).

This model can also be interpreted asan operation-manaement-EPC.

The customer nance model is advisable, i the

customer has better nance conditions than the ESCO.

FIN

continued on page 7

XVI

Creit Financing for Energy Contracting Projects

Figure 1. A general scheme o

credit nancing.

Figure 2. Credit nancing: Cash fow

in EC projects with ESCO nancing.

This is the traditional ESCO-Third-

Party-Financing model, which is

not always the optimal fnancingsolution.

Figure 3. Credit nancing: Cash

fow in EC project with customer

nancing.

SecuritiesInvestments

At

CusTOMeRCredit line

Debt service+ Securities

CusTOMeResCoFIN

Credit line orInvestment

Debt service Contractinrate

FINesCo CusTOMeR

Contractin rate excl. nance

Buildin cost subsidy or investment

Credit line

Debt service
http://www.ieadsm.org/Files/Tasks/Task%20XVI%20-%20Competitive%20Energy%20Services%20(Energy%20Contracting,%20ESCo%20Services)/Publications/101126_GEA-T16_Finance%20Options%20for%20Energy-Contracting%20incl%20Examples.pdfhttp://www.ieadsm.org/Files/Tasks/Task%20XVI%20-%20Competitive%20Energy%20Services%20(Energy%20Contracting,%20ESCo%20Services)/Publications/101126_GEA-T16_Finance%20Options%20for%20Energy-Contracting%20incl%20Examples.pdfhttp://www.ieadsm.org/Files/Tasks/Task%20XVI%20-%20Competitive%20Energy%20Services%20(Energy%20Contracting,%20ESCo%20Services)/Publications/101126_GEA-T16_Finance%20Options%20for%20Energy-Contracting%20incl%20Examples.pdfhttp://www.ieadsm.org/Files/Tasks/Task%20XVI%20-%20Competitive%20Energy%20Services%20(Energy%20Contracting,%20ESCo%20Services)/Publications/101126_GEA-T16_Finance%20Options%20for%20Energy-Contracting%20incl%20Examples.pdfhttp://www.ieadsm.org/Files/Tasks/Task%20XVI%20-%20Competitive%20Energy%20Services%20(Energy%20Contracting,%20ESCo%20Services)/Publications/101126_GEA-T16_Finance%20Options%20for%20Energy-Contracting%20incl%20Examples.pdf


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Figure 4. Illustration

o the contractual

relationships and cash

fows or the Indian

case study.

Task XVI rom page 6

In India, municipalities and water

utilities are constantly challened by

escalatin population rowth, powershortaes, risin enery costs, water

scarcity and outdated inrastructure. Ontop o that, the ineciencies in lihtinand water supply systems incur hue

losses or the municipal overnment. Byimplementin enery ecient measuresin water systems alone, a municipality

can achieve at a minimum 25%enery savins. Unortunately, manymunicipalities lack the unds, technical

capacity, and expertise to carry outsuch projects. And, ESCOs are oten notamiliar with how to adapt their work

in industry to the municipal sector andnancial institutions view projects thatare not part o their usual portolio as

hih risks.

To tackle these obstacles, the Allianceto Save Enery assisted the Tamil Nadu

Urban Inrastructure Financial ServicesLimited (TNUIFSL) to structure a project

desined to: Adopt a Trust & Retention Account

(TRA) with the electricity billpayment escrowed.

Use International Performance

Measurement and VericationProtocol (IPMVP).

Provide project oversight and

technical support to develop localcapacity.

The Business ModelTo ensure the success o this project,

the ESCO and the lenders to the ESCOjointly appointed a mutually acceptableIndian bank to act as the trustee and

payin aent on behal o the Lenders(The Trustee Bank). In turn, The TrusteeBank established a Trust and Retention

Account (TRA) into which the MunicipalCorporation will pay the enery savinpayments as required under the Enery

Services Contract ater the enerysavins are veried as per the areedupon monitorin and verication

protocol. As a result,the execution o thisareement is between

the our key playersthe Trustee, the ESCO,the lenders, and the

Municipal Corporation(see Fiure 4).

esCO

Mnicipality

Electricity bill toUtility

Statutory dues

Operatin expenses

Excess fows to ESCO

Debt services

EPC contractLoan

EPC Contract Financin Desin Constructin Operation Maintenance Savin guarantee

TRA

TNuIFsL

In an eort to enerate reen and

ecient enery usin biomass,

Spains KaWarna, an Enery ServiceCompany (ESCO) undertook abiomass project. The oals o this

project were to reduce enery costsby chanin the enery sources,reduce enery consumption by usin

more ecient equipment, controland minimize reenhouse asemissions, and replace equipment at

zero cost to the nal client.

To reach these oals or this turnkey

operation, the rst step was acomprehensive eneryaudit ollowed by

several measures: Creation of an energy

manaement and

control system; Generation of efcient

thermal enery o

biomass; Establishment of

new loistics and

procurement activities;and

Implemenation of a turnkey

operation desin, asset

manaement, storae,measurement, and invoicin.

The Business Model

The ESCO, KaWarna, audited theinitial situation, desined andimplemented the enineerin

project and subcontracted localimplementation companies.KaWarna is also responsible ormanain the operation and

maintenance over a 10-year contract

kaWarna Clint

IDAe

Figure 5. Illustration o the

contractual relationships used in the

Spanish case study.

Figure 6. Illustration o the cashfows used in the Spanish case study.

IDAe

Ca stdy esCO Crdit FinancingBiomass Energy Supply Contracting with Interest-Subsidized Credit through ESCO, Spain

Ca stdy esCO Crdit FinancingWater Supply and Lighting Eciency with EPC Shared Savingwith Municipal Corporation, India

continued on page 8

ClintkaWarna

Subcontractin

Overall projectinormation

ESC ContractEPC Contract

InormationSpronsor

Public entity

Financin

1. Audit initial situation2. Desin o measures3. Project coordination4. Coordination o

subcontractors5. Operation and

maintemnance andmonitorin

6. Savins uarantee andshared with clients

Subcontractors: Implementation and maintenance by

installation rms Technical risks of good function

100% AmoritizationInterest Eurber +1%

Implementation costsClient pays enery invoice always witha reduction o 10% compared with the

initial situation


8/8


No. 44, March 2012

Editor: Pamela MurphyKMgroup, USA

Task XVI rom page 7

period (with a 25-year lie expectancy) ater which the property

rihts o the installation o to the client. Durin this 10-year period,the client makes no investments and is uaranteed savins o atleast a 10% reduction indexed to the initial enery source. This

requirement is mandatory to access the nance.

Fiures 5 and 6 illustrate this business model.

ConclusionsIn eneral, all nancin options, such as operate and nanceleasin, credit and oreitin nancin (means ESCO sells the

uture contractin rates to a nancin institution), are suitable ornancin enery supply and conservation investments. Thereore,it is not possible to recommend any particular nancin option

or product that is best suited or enery service nancin as eachoption has its advantaes and disadvantaes.

Findin the best available nancin requires a comprehensive look

at all implications o any nancin option, includin securitiesrequired, transaction cost, taxation and balance sheet eects. The

best nancin option cannot be determined by a simple look at the

lowest interest rate or annuities oered, but also depends on theborrowers backround and the specic project. This requires theinteration o bookkeepin and tax consultancy into the nancin

decision.

The customer demand prole introduced in the manual can be usedas a checklist to make sure that all the important implications o the

project nancin are considered. For lare projects, a comparisono the broad rane o implications rom all ve cateories could beaccomplished usin cost-benet analyses and interatin monetary

and other criteria into one evaluation system.

This article was contributed by Jan W. Bleyl-Androschin, DSM Task

XVI Operating Agent, [email protected] and Daniel Schinnerl, DSM

Task XVI expert,[email protected],both rom Graz Energy

Agency, Austria. To download the manual, Financin Options or

Enery Contractin Projects Comparison and Evaluation or tolearn more visit the Task webpage.

The DSM Spotlight is published several times a year to keep readers abreast o recent results o the IEA

Demand-Side Management Programme and o related DSM issues. IEA DSM, also known as the IEA

Implementing Agreement on Demand Side Management, unctions within a ramework created by theInternational Energy Agency (IEA). Views, fndings and publications produced by IEA DSM do not necessaril y

represent the views or policies o the IEA Secretariat or o the IEA's individual member countries.

For inormation on the Proramme, its work and contact addresses, visit our website at www.iadm.org

www.ieadsm.orgVisit the DSM Programme's website for easy access to reports, news and contact information.

Documents

DSM Spotlight – Mar 2012