Ge Power (NYSE: GE): Powering Energy Forward
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Ge Power (NYSE: GE): Powering Energy Forward

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Michael Keroullé, President & CEO, Ge Power (NYSE: GE)Michael Keroullé, President & CEO New York-based GE Power (NYSE: GE) has witnessed the expansion of distributed energy systems reflected in the shifting expectations of its customers that are demanding more customization, flexibility, and convenience over their energy needs. And GE Power is committed to helping its customers meet these demands in the form of physical products like modular and scalable aero-derivative gas turbines, customized distributed energy solutions, new energy storage technologies, and services like microgrid and grid optimization solutions.

This step toward decentralized energy systems has accelerated due to the rise of digital technologies and improved economics. For some geographies, it can be less expensive to install and operate with on-site power generation and microgrids than it is to achieve and maintain access to centrally-generated power. Several regions and industries operate with an amalgamation of centrally-generated and distributed energy resources, which sometimes demonstrate a blend of energy technologies such as solar and wind to gas and even nuclear. And in both developed and developing areas, decentralized distributed power generation and energy production provides a wide array of benefits such as improved access, resiliency, and efficiency.

GE Power develops the next-generation energy technologies and improves the power networks that consumers depend on today. The company contributes to one-third of the world’s electricity and equips 90 percent of power transmission utilities across the globe, and GE's software manages 40 percent of the world’s energy.

End-to-End Digital Energy Solutions

The union of industrial with digital is transforming the way we live. Decentralization, digitization, decarbonization, and democratization are the trends that are disrupting the environment and driving the need for digital industrial software and services. In return, energy needs to be more reliable, sustainable, secure, and efficient.

The energy landscape will change in the coming years and in addition to the growth of digital power solutions, power generation will become more complex and encompass a diverse range of sources. Renewable energy will expand exponentially, and with more people installing solar and scrutinizing the origins of their electricity, a new type of customer is emerging.

GE Power combines operational software with analytics to optimize its customers’ network. By creating a common data fabric, making applications modular, layering in machine learning, and taking a distributed approach with architecture and execution, the company helps its customers achieve network-level optimization.

GE Power combines operational software with analytics to optimize its customers’ network

Network-level optimization is a single source of truth for the electric delivery system, a cohesive, all-encompassing model of equipment, wiring, devices, and other grid components, as-designed and as-operated. It is a digital brain that leverages data across the enterprise to achieve new levels of productivity and profitability.

"GE Power develops the next-generation energy technologies and improves the power networks that consumers depend on today"

GE Power offers a portfolio of digital energy products that include digital grid solutions, operations performance management, advanced distribution management solutions, asset performance management, mobility solutions, and utility analytics. These solutions solve the challenges of grid transformation with an integrated and interoperable digital grid management system. Customers can leverage these digital energy solutions to bridge the gap between predictive and prescriptive— connecting traditionally siloed systems, and providing integrated workflows delivered via a brilliant UI/UX. They can accelerate their digital industrial transformation to an autonomous future that connects and orchestrates in new ways, leveraging data across the enterprise using advanced analytics, machine learning, and AI—all while remaining flexible: on-prem, on the edge, in the cloud.

Co-creating the Energy Landscape with Customers

GE Power applies a century of expertise to work every day, with local teams in more than 70 countries around the world. In growing economies like China, Latin America, India, Africa, and Southeast Asia, this means affordable power, better infrastructure, and local jobs.

In the next ten years, 25 percent of all future power capacity additions will be coal- or oil-fired steam power plants. As one of the leading steam and coal power franchise, GE’s Steam Power has installed 30 percent of the world’s steam turbine capacity, 50 percent of the world’s steam turbines for nuclear power plants, 30 percent of the world’s boilers, and has provided 1,500 steam turbine module retrofits.

GE Power ensures to help keep the power on for everyone and everywhere. The company every day strives to transform the future of steam power and helps its customers, such as Southern California Edison to create extraordinary outcomes for tomorrow and beyond.

Southern California Edison’s Mountainview Generating Facility is a 1,054 megawatts power plant in Redlands, California. Due to the region's growing presence of renewable energy, the site needed more flexibility to respond quickly to California’s ISO system demands. The state’s share of electricity from renewables has doubled more than to 25 percent today, up from 12 percent in 2008.

The Southern California Edison-owned plant partnered with GE to develop a package solution that will trim down its start-up times, and reduce emissions without using additional water. The combination of GE Power’s Advanced Gas Path (AGP), Dry Low NOx 2.6+ (DLN2.6+) combustion and OpFlex software upgrades enabled Southern California Edison to help balance the region’s grid demands.

Southern California Edison benefited from a boost in its station’s output by about 48 megawatts, an increase in efficiency and longer intervals between maintenance outages. By expanding Mountainview’s flexibility, the project assisted Southern California Edison in protecting the grid from volatility, while also strengthening its competitive position in California.

Reimagining the Future of Energy

The world is moving from energy systems based on centralized generation, transmission and distribution (T&D) technologies to one that also embraces distributed, digitally-enhanced, and low-carbon technologies. Conventional and rising, physical and digital, large and small, are all congregating to build a new 21st-century power network. GE is at the forefront of this transition and co-creating the future of energy with customers across the world.

This development is a positive change for both the people as well as the planet because safe, reliable, efficient, and affordable power has always been a driver of economic growth and emerging living standards. As a multitude of sustainable, intelligent, and customizable energy solutions become available, economic opportunities and the standard of living will rise for millions.

During this transformation, GE Power’s strategy will be to improve conventional energy technologies and innovate uncompromisingly to develop new digital platforms, integrating the entire electricity system on a single, seamless data framework. To accomplish this mission, GE Power is working with partners across the world and developing new technologies and business models to create value for the customers as well as end consumers. The GE Power team believes that they have the right technologies, platforms, people, and mindset to lead the transformation successfully.

- Laura Davis
    August 02, 2019