In this paper cogeneration benefits applied to a user with a high steam demand are analyzed. The methodology for the feasibility study and the economical analysis of the investment is presented under the Italian legislative framework. The methodology is applied to an actual case and a detailed description and discussion of all data input is provided. Especially this last key point will be faced using starting data usually available in these kind of studies (i.e., not very detailed for thermal consumption). Finally a comparison of different CHP technologies and a sensitivity analysis is done. (C) 2008 Elsevier Ltd. All rights reserved.