1-33B-3.1. Guaranteed cost savings defined.

For the purposes of this chapter, the term, guaranteed cost savings, means a guaranteed annual measurable monetary reduction in utility, operating, and maintenance costs for each year of a guarantee period as a result of cost-saving measures. Guaranteed cost savings for utility savings shall be calculated using the mutually agreed upon baseline utility rates in use at the time of an investment-grade energy audit. Guaranteed cost savings for operation and maintenance cost savings shall be calculated using mutually agreed upon baseline operation and maintenance costs at the time of an investment-grade energy audit.

Source: SL 2016, ch 14, § 2.