; and (B) the net wholesale sales of electricity by a facility does not exceed 50 percent of total annual electric generation by the facility. (8) Cost-effective The term cost-effective , with respect to an energy efficiency program, means that the program achieves a net present value of economic benefits over the life of the implemented measures, both directly to the energy consumer and to the economy, that is greater than the net present value of the cost of the program over the life of the program, both directly to the energy consumer and to the economy, using the societal benefit-cost test calculated using the lower of a utility weighted average cost of capital or a social discount rate of 3 percent. (9) Customer facility savings The term customer facility savings means a reduction in electricity, or natural gas consumption, including waste heat energy savings, at a facility of an electricity consumer served by a retail electricity supplier or a natural gas consumer served by a natural gas supplier, as compared to— (A) in the case of new equipment that replaces existing equipment with remaining useful life— (i) consumption of the existing equipment for the remaining useful life of the equipment; and (ii) thereafter, consumption by new equipment of average efficiency of the same equipment type; (B) in the case of new equipment other than new equipment described in subparagraph (A), consumption by new equipment of average efficiency of the same equipment type; (C) in the case of consumption, other than consumption described in subparagraphs (A) and (B), at an existing facility, consumption at the facility during a base period of not less than 1 year