New York Power Authority (NYPA) and /GE Power Sign Enterprise-Wide Software Agreement to Provide Cleaner and More Reliable Power, Improve Energy Infrastructure Operations

SCHENECTADY, N.Y.— -

SCHENECTADY, N.Y.—October 6, 2016--GE Power (NYSE:GE) today announced an agreement with the New York State Power Authority (NYPA) to provide software that will monitor, analyze and enhance the performance of NYPA electricity generating assets across its 16 generating facilities and electricity transmission network. The collaboration will help accelerate NYPA’s 5-Year Strategic Vision plan by improving the efficiency, reliability and cost-effectiveness of facilities across the entire organization. NYPA is the first US power provider to sign such an enterprise-wide digital transformation agreement with GE Power.

The collaboration will focus on improving system-wide performance and operating costs of NYPA’s hydroelectric and gas-based electricity generation capability, while at the same time reducing carbon emissions. NYPA’s hydropower plants and low-emitting natural gas plants are typically responsible for 15 to 20 percent of the state’s daily electricity output.

To help accomplish this, GE will provide Asset Performance Management (APM) software. The software leverages data analytics to monitor power generation and transmission equipment health in order to predict potential failures and thereby reduce unplanned downtime, lower maintenance costs and lower operational risks.

“This is a transformative moment in the 85-year history for NYPA and its customers as we reach the next milestone in our digital journey,” said Gil C. Quiniones, president and chief executive officer at NYPA. “This digital solutions platform supports our primary mission to provide customers with low-cost, clean, reliable power with the industry-leading energy infrastructure and services they value.”

“The digital transformation of electric power has the potential to create more than a trillion dollars of economic and societal value in the next decade,” said Ganesh Bell, chief digital officer, GE Power. “NYPA is truly a pioneer, moving first to unleash the value that comes from connecting, monitoring, analyzing and ultimately optimizing the performance of its entire electricity value network.”

Today’s announcement supports New York State’s Reforming the Energy Vision, or REV, strategy to build a cleaner, more resilient and affordable energy system with NYPA leading on many of the grid and transmission modernization and reliability efforts across the state.

This process starts by merging the physical and digital – connecting energy-producing machines, such as gas and hydro turbines via sensors to analytics software. This software, running in NYPA’s central Smart Operations Center, then provides operations leaders with predictive alerts which accurately forecast possible failures weeks before they might occur. GE’s APM solution, which runs on its Predix operating system for the Industrial Internet, thereby enables operators to better detect problems that could affect the NYPA ecosystem, resulting in increased plant efficiencies and productivity, reduction of unplanned downtime, lower maintenance costs and lower operational risks.

GE was selected to provide the software for NYPA’s Smart Operations Center through a competitive bid process. The Smart Operations Center is expected to begin operations in December 2016. It is a critical component to NYPA’s five-year strategic vision. NYPA plans to extend the capabilities of the Smart Operations Center over time to include digitally-enabled communications, network operations, cybersecurity and physical security across its generation fleet and transmission system.

About NYPA

NYPA is the nation's largest state public power organization, through the operation of its 16 generating facilities and more than 1,400 circuit-miles of transmission lines. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. More than 70 percent of the electricity NYPA produces is clean renewable hydropower. For more information visit http://www.nypa.gov/and follow us on Twitter @NYPAenergy, Facebook, Instagram, WordPress, and LinkedIn.

About GE Power

GE Power is a world leader in power generation with deep domain expertise to help customers deliver electricity from a wide spectrum of fuel sources. We are transforming the electricity industry with the digital power plant, the world’s largest and most efficient gas turbine, full balance of plant, upgrade and service solutions as well as our data-leveraging software. Our innovative technologies and digital offerings help make power more affordable, reliable, accessible and sustainable.