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The Power & Utility Analytics Primer The Power & Utility Analytics Primer What Every Executive Needs to Know to Compete 1 2 3 4 5 Analytics: What Happened What Is The Brain of in the Past: Happening Now: What Are Analytics Are Big Data and Descriptive Diagnostic Analytics? Everywhere the IoT Analytics Analytics 6 7 8 9 10 What Will Happen What Action in the Future: Should I Take: Digital Seize Your Predictive Prescriptive What Is an Transformation Analytic Analytics Analytics Analytic Model? of Power Advantage The Power & Utility Analytics Primer 2017 Top Digital Trends for the Electricity Value Network GE Brief: 2017 TOP 1 What Are Analytics? DIGITAL TRENDS for the EVN ANALYTICS are the discovery, interpretation, and communication of meaningful patterns in data. Analytics relies on the simultaneous application of statistics, READ NOW computer programming and operations research to quantify and predict performance. 2016 was a year of accelerating change that will impact the power industry across the entire Electricity Value Network. Power leaders determined to thrive in this (Source: Wikipedia) Webinar: rapidly changing landscape must understand these trends, how they will impact their IMPROVING RELIABILITYbusiness models and the transformative role of digitalization. In this Executive Brief, WITH ANALYTICSGE outlines the trends that warrant consideration by every power and utility executive Featuring: GE Poweras they develop strategies for success in 2017. VP, Data Science Descriptive & Analytics, 1 | Impact of Renewables and DERs 6 | CXO Roles Transform MATURITY MODEL Balancing New Sources of Energy at Every Digitalization of Operations Redefines the CIO Analytics Ravi Malladi Level of the Network Role and Creates New Chief Digital and Chief Transformation Officer Roles A look at past performance 2 | Artificial Intelligence (AI) to determine what Becomes Scalable and Mainstream 7 | Cloud + Edge Is the Next Imperative happened and why. WATCH NOW 3 | Disruptive Cyberattacks Potential to Catalyze Board and 8 | The Talent Challenge Regulatory Oversight Equipping the Workforce with Technology Diagnostic MMaakkee iitt happeenn!! as Hedge Against Brain Drain 4 | Multi-Directional Analytics Is the New Grid 9 | The Platform Economy What is happening now Article: What it Means to the Power Industry What will happen? Prescriptive analytics based on incoming data. ANALYTICS 3.0 5 | The Prosumer Wave Continues to Rise with 10 | Winners Greater Impact Power Producers, Utilities and Industrial platform by Thomas H. Davenport, What is happening? Predictive analytics Grid Operators Who Employ Predictive OT/IT Edge to Cloud Harvard Business Review New Business Models Analytics Condition based monitoring “One of the most dramatic Value What happened? Diagnostic analytics Predict future outcomes some IT integration conversions to data and with accuracy based on analytics offerings is taking Dashboard © 2017 General Electric Company patterns observed in the Descriptive analytics multiple systems place at General Electric, a past. Data and Integration company that’s more than Trends, reports 120 years old. With sensors single system Prescriptive streaming data from turbines, locomotives, jet engines, and Analytics medical-imaging devices, Recommended actions that GE can determine the most should be taken based on Information Optimization efficient and effective service descriptive, diagnostic and intervals for those machines.1” predictive analytics. READ NOW GE Power Digital Solutions 2 © 2017 General Electric Company. All rights reserved. The Power & Utility Analytics Primer $1.3T $387B $2+T Industry Value from: Asset Performance Societal Benefits from: Electricity Value Network Service platforms Management Value from: Reduction in carbon emissions Smart devices Lower repair & maintenance costs Net new job creation Digital Transformation with GE Solutions The ‘cloud’ Lower downtime of assets Value creation for consumers Infographic: Advanced analytics Fewer critical breakdowns Source: World Economic Forum White Paper Digital Transformation of Industries: Electricity Industry, 2 Analytics Are Everywhere ELECTRICITY VALUE January 2016 NETWORK: Digital Transformation with GE Fossil Nuclear Gas Customer Results: • >10 curies reduction in transported source term Customer Results: Solutions • 30% dose rate reduction in affected areas We live and work in a world increasingly informed and enhanced by• Load rampingadvanced at up to ±50 MW/min, 2.5 X normal rate Accenture • for plant 5 person-rem reduction • 2% increased fuel efficiency • 2.5% increase in peak output to meet short term demands Solutions: • $2.5MM cost reduction & avoidance over first year • Allows reactor operator to manage steam moisture content to better analytics. We interact with analytics every day, from Amazon shopping balance total efficiency of the plant • Reduction in insurance cost ~ $8.8MM per year • Delivers prediction models that enhance operating designs and the WEF • NERC CIP Compliance Power Generation • Allows moisture carryover targets to be strategically planned to meet Solutions: business needs recommendations to Facebook photo tagging. Our mobile phones • areProvides early warning now prior production failure with predictive maintenance READ NOW • Helps plant management understand how to engage control software using Wind Farm estimate that analytic software • Provides visibility into power production for plant managers and traders for Customer Results: powerful computers that are constantly running analytics applications.real-time decisioning • 10% reduction in maintenance cost • Enables rapid turn-up, manages fuel variability and maintaining emissions • 1% increase in production based on availability level with advanced analytics • Up to 10% annual Energy Production Transmission Distribution the digital • Identifies vulnerabilities and ongoing threats with intrusion detection • 1–3% increase in Revenue Solutions: Coal • Provides fleet-wide view of turbines’ state, status and health with A number of industries have been transformed by a digital wave ofCustomer innovation Results: remote turbine control • 10–15% NOx reduction • Enables smart maintenance decisions and forecast of useful life revolution • Improves turbine performance with farm level optimization • 0.5–1% heat rate improvement • Provides models for day-ahead and real time weather forecasting • 15–30% less overall soot blowing Video: driven by analytics, Big Data and digital platforms. The power industry• ROI < 1 year is now Consumption Solutions: ACHIEVING OUTCOMES Grid in electricity • Maintains “sweet-spot” operations while optimizing the boiler performance Customer Results: across multiple objectives: NOx, heat rate, steam temperatures, CO, LOI, NH3 experiencing a major digital transformation that will only accelerate. Analytics is From the Edge to • Up to $3M Opex saving in 1st year • Improves soot blower control Buildings and Cities • Provides plant flexibility by revealing operating options/trade-offs • Improved reliability by reducing system interruption by 33% Customer Results: • Frees operators to focus on higher level issues the Cloud • 30% reduction in storm response costs can unlock • Up to 10–20% reduction overall energy consumption • 20%+ increased carrying capacity of existing networks being applied across the electricity value network today in areas such as these: • Up to 50% reduction in lighting costs • Up to 5x faster work completion Solutions: • Up to 30–60% improvement in forecast accuracy for power restoration • Reduces energy costs and consumption by adopting Solutions: energy-saving technologies such as LEDs • Identifies disruption location and reroutes distribution to restore power $3.1 trillion • Enables energy independence, resiliency and environmental responsibility by to customers adopting on-site generation technologies (i.e. solar and combined heat and power) • Manages utilities restoration workforce and equips the field workers with • Reduces energy cost, consumption and carbon footprint by leveraging actionable data energy storage, EV charging and demand response • Monitors, controls and regulates the power line assets that optimize • Improves energy performance and creates new power flow value streams with data and analytics in industry and Copyright © 2016 General Electric. All rights reserved. No parts of this publication may be reproduced or transmitted in any form or by any means, electronical or mechanical, including photocopy, recording, or any information storage and retrieval system, without prior permission in writing from GE. WATCH NOW societal value POWER GENERATION ACROSS THE GRID COMMERCIAL ENERGY over the next Effectively manage power Smart meters, equipment sensors MANAGEMENT decade.2 generation to optimally balance and voltage meters can all be Reduce energy cost, consumption goals, including availability, connected via digital platforms that and carbon footprint by using Video: ELECTRICITY reliability, efficiency and use advanced analytics to solve analytically-powered energy TRANSFORMATION environmental compliance. problems in real time. management, on-site power With the Digital generation, storage and demand Power Plant response. WATCH NOW GE Power Digital Solutions 3 © 2017 General Electric Company. All rights reserved. The Power & Utility Analytics Primer Analytics: Accenture/WEF report: DIGITAL 3 The Brain of Big Data and the loT TRANSFORMATION OF INDUSTRIES: Electricity THE INDUSTRIAL INTERNET OF THINGS (IIoT) is the part of the IoT that brings Industry together industrial
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