Energy Performance Contract (EPC)
HELESCO SA, by Ministerial Decree ΔΕΠΕΑ/ Γ / οικ. 176381 / 6.7.2018 is a registered Energy Service Company (Α΄ Category providing services with EPC).
The following procedure is followed in projects with EPC
- Energy audit
- Design (analysis and prioritization of energy saving interventions depending on the cost-benefit ratio)
- Signing of the EPC
- Project Monitoring – Energy saving estimation according to IPMVP
In accordance with EPC requirements, HELESCO SA guarantees the project’s energy savings. The company’s fee depends entirely on the results.
Due to the need to reduce operating costs, the EPC is the appropriate, technical and economic solution for companies in the industrial and tertiary sector.
The energy saving interventions are technically and economically adapted to the company’s needs.
An energy audit is a comprehensive assessment of the actual energy efficiency of the facilities used and of the existing equipment of an organization. It helps to identify the necessary energy saving actions and prioritize them. A project can start without an energy audit, if the client has identified a specific part of his facilities which requires project implementation.
The design stage is based on the results of the energy audit once these are obtained. In this stage, a report which includes the determination of energy savings per operation and the corresponding cost-benefit ratio is prepared. A proper design will highlight the decisions that need to be taken for the implementation of the project. After this stage is completed, it is up to the client to decide whether they wish to proceed with the next stage or not.
Signing of the EPC
After the planning stage, the EPC is prepared and to be signed. The EPC will include the energy saving interventions that the client agreed upon, the cost and benefit of the implementation, the operational procedures, the method of repayment, etc.
The financing necessary for the implementation of the project can either be provided by the client or by a third party, i.e. a financial institution. In both cases, HELESCO SA guarantees the technical result of the project.
This stage includes the implementation studies, the supply and installation of the necessary equipment, the supervision and commissioning of the project and staff training.
The monitoring method and the method of repayment are those specified in the EPC. The monitoring and estimation of energy savings is carried out in a mutually agreed manner.
The monitoring method can be based a) exclusively on calculations, b) on a mutually agreed estimation method or c) on continuous measurements. In any case, the estimation of the energy saving is based on the procedures provided by the International Performance Measurement and Verification Protocol (IPMVP). As initially agreed, HELESCO SA is responsible for the monitoring and therefore will supply the client with regular reports on: the energy savings achieved, the balance of payments and the current price at which the client can redeem the EPC rights from HELESCO SA.
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