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The New Ge Power GE’s Perspective on the US Power Market Bob Prantil, North America Key Accounts Executive September 14, 2017 © 2017 General Electric Company New York is powered by GE GE Installed Base in NY Microgrid projects in NY 8.3 GWs, 152 GT units • NY Prize phase 1: 10 of 83 microgrid feasibility studies (‘15 – ’16) 16.3 GWs, 106 ST units • NY Prize phase 2: 4 out of 11 detailed design studies (ongoing) 3 GWs, 3 reactors, 50% of IB • NY REV: National Grid Potsdam demonstration project… feasibility, design & build 899 MWs, 594 WTGs, 49% of IB Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 2 GE in New York Employees Locations Over 7,100 GE jobs, including: GE Aviation – Norwich, Bohemia • 2,300+ GE Power jobs GE Capital – New York • 1,600+ GE Corporate jobs GE Corporate – Niskayuna, Newburgh, Albany • 630+ GE Aviation jobs GE Digital - Schenectady • 550 GE Healthcare jobs GE Energy Connections – Rochester, Schenectady • 510 GE Renewable Energy jobs GE Healthcare - Troy • 370+ GE Energy Connections jobs GE Oil & Gas - Skaneateles, Wellsville • 370 GE Global Operations jobs GE Power – Schenectady • 340+ GE Digital jobs GE Renewable Energy – Schenectady • 210+ GE Oil & Gas jobs GE Transportation - Latham • 40+ GE Capital jobs Charitable Contributions Key Suppliers • $25.7M in 2016 • Advanced Atomization Technologies • 13,833 Volunteer hours • FADEC International LLC • Hitachi America Limited • New York Air Brake Corp. • Users Machine & Tool Co. Inc. Independent Power Producers of New York | September 14, 2017 © 2017 General Electric Company 3 A digital industrial company 295,000+ people ~180 countries $123.7B revenue (2016) POWER AVIATION RENEWABLE BHGE HEALTHCARE TRANS. LIGHTING CAPITAL DIGITAL ENERGY © 2017 General Electric Company 4 The Power transformation HA Delivering on significant investment for portfolio repositioning Alstom • Alstom integration on track … above pro forma on profit, cash, synergies • Combining generation (Power) and grid (Energy Connections) businesses • Winning with the new HA … best new product launch in last 20 years Services • Services upgrade growth … 4X over 2 years • Power Digital Solutions … industry leader Digital Navigating a flat HDGT industry with some volatility • Planning for continued softness in ‘17 … 4Q’16 softer than we thought Steam • GE Power #1 units position since 1980 … industry leading value Global industry leader … transforming to align with customers FastWorks Adv. Mfg. Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 55 Investment focus areas Thermal Generation Services Hybrid Systems Grid Wind Digital Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 6 Investing for gas leadership… the HA Leading and delivering EDF Bouchain … world Exelon … 4x7HA.02 record in efficiency June 2016 COD 99.5% reliability … Base load 10,000+ hours & 200+ starts in 23 minutes 5,500+ hours & 130+ starts Bhikki … first HA in Pakistan Sergipe … LATAM’s largest 62%+ combined-cycle efficiency Gas Power Plant 17 months PO to power first HA turnkey self- implement project $1B 2016 order Leading the industry with advanced technology Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 77 Investing for services leadership Upgrades growth Growth beyond AGPs 1,000+ Gas upgrades Alstom IB, combined technologies 2%+ efficiency, extended life 470 Steam upgrades Upgrades 275 GE IB, combined technologies 2%+ efficiency, lower product cost AGPs 104 145 155-165 ‘15 ‘16 ‘17E Fleet360 total plant solutions Plant outcomes incl. GT/ST/Boiler Improved performance/economics Analytics: Lifing, M&D, Digital Advanced analytics for plant Improved productivity on full plant Broadening the service portfolio with new upgrades and Predix Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 88 Hybrid case study: Southern California Edison Results • 1st hybrid gas turbine/BESS in the world • 50 MW of rapid response contingency reserve without fuel burn • Max power in 5 minutes • 30% lower CAPEX than standalone BESS • $1.7M additional annual revenue Existing LM6000 in Simple Cycle Awards + • Edison Electric Institute Energy Storage North America 10MW/4.3 MW-hr Battery Energy • Storage System (BESS) + Integrated Controls Extending simple cycle GT hybrid to combined cycle applications Visit www.gepower.com/hybrid Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 9 Digital transformation of electricity Reimagining electricity … intersection of energy and digital GE Power software orders ($ in millions) More data than any other industry + ~1.7x • 2TB data per plant/day • 2% of all data is being utilized $533 of plant downtimes are predictable • 75% $269 • $10 trillion by 2060 ‘15 ‘16 ‘17E Distributed Energy Market Operational Behind Generation Trading Transmission Distribution the Meter Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 10 September 19, 2017 11 The First Digital Utility? @NYPAenergy @GQenergy Slide courtesy of the New York Power Authority Evolution of the GE onshore wind portfolio GE units 1,000th 5,000th 10,000th 20,000th 25,000th 30,000th UNIT FARM ’96 - ’00 ’01 - ’04 ’05 - ’08 ’09 - ’12 ‘13 ‘14 ’15 ’16+ GE acquires Alstom 1.5i 1.5s 1.5sle 1.5xle 1.6-100 1.7-100 1.7-103 (65m) (70.5m) (77m) (82.5m) 1.6-82.5 1.85-87 1.85-82.5 Model 2.5s 2.5xl 2.75-103 2.85-103 2.75-120 3.2-130 3.8-130 introduction (88m) (100m) 2.75-100 2.5-120 3.2-103 3.4-130/137 3.6-137 Digital Wind Farm 2MW-116 2MW-107 GE’s journey from the unit to the farm 12 Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 12 *Since 2002 Haliade* 150-6MW offshore wind turbine A bankable wind turbine ensuring generation of electricity at any time, lowering LCOE PROJECTS ~2 GW of order backlog Direct Drive Permanent Individual Magnet Generator electrical pitch Units Block Island 5 Merkur 66 Redundant French Projects 238 Pure Torque* sub-systems Groix (floating) 4 Leucate (floating) 4 Xinghua Gulf 3 * Trademark of General Electric Company. High aerodynamic Tuned mass efficiency damper Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 13 Grid in a changing energy landscape GE is enabling the creation of greener, more resilient and reliable power system HELPING TO MEET GROWING ENERGY DEMANDS HV equipment and turnkey solutions, automation and software, microgrids ENABLING RENEWABLES & A DIVERSIFIED ENERGY MIX Electrical balance of plant, HV direct current, DER and energy management systems UPGRADING AGING INFRASTRUCTURE Digital substations, turnkey solutions, equipment, refurbishment services, APM IMPROVING GRID RESILIENCE AND ENERGY EFFICIENCY HV direct current systems, flexible AC transmission systems, microgrids Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 14 US power industry outlook … 10 year view Equipment orders, GW Generation, TWhs Forecast Solar 40 20 27 29 26 5,000 100% Historic Wind 35 E Storage 4,500 90% 4,000 80% Geothermal 30 PV Other REN 3,500 70% Biomass 25 Wind Offshore 3,000 60% Hydro 2,500 50% 20 Wind Onshore Nuclear Hydro 2,000 40% 15 Oil Nuclear 1,500 30% 10 Steam 1,000 20% Gas 5 Recip Gas 500 10% Coal 0 GT Plant 0 0% % Ren 07 08 09 10 11 12 13 14 15 16e . 17-21 22-26 07 09 11 13 15 17 19 21 23 25 Source: GE MACA 2017 *year of NTP orders, excludes oil recip. engines + partial coverage of very small sizes of GT & ST Source: GE MACA 2017 Thermal outlook Renewable outlook • Trump environmental policy not expected to revive coal • PTC & ITC drive strong short term wind & solar growth • New gas largely driven by gas price and coal/nuclear • Offshore wind emerging … driven by mandates retirements • Storage market to grow fast long term • Watch for expanded subsidies supporting existing nuclear Age of gas … but renewables go mainstream Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company Source: GE Power Strategic Marketing Analysis 15 North America power industry Voice of Customer project Approach 30 Companies…23 Utilities & IPPs 68 Interviews…40% at CEO level rd 3 party interviews on GE’s behalf Comissioner 9% CCO, Chief Regulator Other Eng 9% 12% • Disruptions impacting the 8% Board, Chair, industry over the next 10-15 years Pres, CEO • Key strategic issues VP&GM 38% Utility 21% 51% • Innovation adoption IPP 28% EVP, • Share results with study SVP, MD 24% participants Source: ECG Power Industry Executive Interviews & Analysis Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 16 Power industry disruptors Decarbonization, renewables growth, and gas availability are top of mind… Disruptor Timeframes 0-5 Years Unprompted 5-10 Years Responses 10+ Years Other top disruptors based on total number of unprompted and prompted responses Number of Responses Source: ECG Power Industry Executive Interviews & Analysis Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 17 Power industry disruptors Interactive dialog elevates strategic discussions… Disruptor Timeframes 0-5 Years Unprompted 5-10 Years Responses 10+ Years Same Prompted timeframes Responses as above Other top disruptors based on total number of unprompted and prompted responses Number of Responses Source: ECG Power Industry Executive Interviews & Analysis Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 18 Top 10 strategic issues customers are facing Regulatory, growth and cost issues prevail Source: ECG Power Industry Executive Interviews & Analysis Independant Power Producers of New York | September 14, 2017 © 2017 General Electric Company 19 .
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