The Energy Efficiency Programs carried out by energy companies represent the largest and most consistent program of investment in energy efficiency in Brazil. This essay reinforces the needs for a structured management of Energy Efficiency Programs and suggests the use of project management methods and indicators to assist in the monitoring of energy efficiency projects. To ensure the success of an Energy Efficiency Program demands that the project must be carefully structured, so that the planned energy saving can be achieved at a viable cost, ensuring accountability in the use of public resources. The methodology proposed allows an evolutive and comparative analysis of different projects, carried out by different electric power companies over time. It is believed that the implementation of this methodology proposed here will allow in a short time the establishment of the best practices, which will enable a development of a sector benchmarking, as well the setting management targets and evaluation of resources allocated (Energy Discussion Paper in Portuguese).