This paper inquires into whether overall thermal transfer value (OTTV) is an appropriate building envelope energy performance index for use in regulatory control. First, a historical review of the use of OTTV in American Society of Heating, Refrigerating and Air-conditioning Engineers (ASHRAE) Standard 90 is presented, followed by a review of more recent work on its further development and application. The major deficiencies of OTTV are then discussed, and simulation study results meant to highlight the impacts of such deficiencies are presented. The study embraced air-conditioned office buildings and air-conditioned high-rise residential buildings in Hong Kong. Results of this study clearly show that the OTTV calculated with the use of pre-calculated coefficients may not truly reflect the thermal performance of a building envelope. Therefore, a second thought should be given to the use of OTTV in building energy codes. (C) 2004 Elsevier Ltd. All rights reserved.