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This study analyses three feasible regulation methods of an in-service cogeneration plant. The main task is to study the potential energy savings, CO2 reduction and the increase in profitability compatible with the lowest transformation costs. The cogeneration system is composed of two General Electric LM2500 gas turbines and a heat recovery steam generator (HRSG). Two plant localizations in Spain have been considered; San Fernando (Cádiz) where the current plant is located, and Burgos. The latter has been taken into account to analyze the effect of cooler weather on the regulation methods. The paper has been divided into three parts. First, a revision of the current legislation regarding cogeneration in Spain is...