In an environment of increasing energy prices and market volatility, combined heat and power (CHP) offers the energy manager both the potential for cost savings and increased flexibility to better deal with and respond to changes in energy markets. CHP should be viewed as a source of thermal energy that also produces power as a byproduct. In most cases, CHP will have difficulty competing with utility-scale generation in wholesale power markets, but can be attractive offsetting purchased power while increasing power reliability and constituting an important element in a corporate energy risk management portfolio.
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