Optimum energy efficiency has long been the primary objective for a cogeneration plant. However, with the increased complexity of power contracts, the concept of operating at optimum plant efficiency to maximize profit is not always a valid assumption. This paper will present the process and financial variables affecting the profitability of an industrial cogeneration plant. The concept of Steam Profitability Path to simplify the dynamic problem of variable power rates, fuel cost and steam demand will also be introduced. The application of the Steam Profitability Path for advanced process control (APC) applications and Energy Management Systems will be shown.
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