The energy efficiency proposals will be evaluated based on the following areas. Cost-effective proposals (lower cost per unit of abatement) are encouraged. a. Potential Gains in Heat Rate and Carbon Abatement i) Improvement to heat rate (GJ/MWh) based on 75% part load. Gencos will be required to compute the heat rate before and after project completion, and submit relevant data (i.e. fuel consumption, gross electricity output and auxiliary consumption) used in the heat rate computation. ii) Stretched and yet realistic carbon abatement targets, including the tonnes of carbon dioxide-equivalent abatement (“tCO2e”) per year (i.e. ktpa) and total projected tCO2e achievable throughout the remaining economic lifespan of the CCGT. 4 Each plan/report need not be endorsed by the same independent third party. Page 7 of 15 b. Feasibility of Implementation i) Detailed implementation proposal and timeline. ii) Track record of the proposed equipment and/or technologies in achieving the project’s heat rate and abatement targets in a low cost and low risk manner. iii) Rigorous M&V plans that are in accordance to international protocols and standards as per Section 7. iv) Comprehensive assessment of risk and mitigation measures (e.g. downtime of CCGTs). c. Project Cost i) Detailed cost breakdown and funding requirement. ii) Assessment of the project payback period, before and after inclusion of requested grant amount.