Power Costs, Inc. (PCI) & GE Power Collaborate to Link Energy Operations with Energy Trading for End-to-End Machine to Market...
November 30 2016 - 8:00AM
Business Wire
- PCI’s solution, used in more than half
of energy trading transactions in the United States, will be
offered on GE’s Predix platform for the Industrial Internet
- PCI’s energy software, offered as a
Predix-powered business optimization solution, will connect with
GE’s Digital Power Plant application suites to better link
real-time generation data with energy trading
- Collaboration continues GE Power’s
buildout of Predix apps at the machine, operations and business
levels of the electricity value network
GE Power (NYSE:GE) today announced a collaboration with Power
Costs, Inc. (PCI), a privately-owned independent software company,
to connect plant asset and operational generation data from GE’s
Digital Power Plant solutions with PCI’s energy planning and
trading tools for more accurate and profitable energy trading and
scheduling. GE will offer PCI’s suite of solutions, used in more
than half of energy trading transactions in North America, on the
Predix* operating system for the Industrial Internet.
The collaboration signals GE Power’s continued commitment to
deliver digital energy solutions to every part of the electricity
value network, from machines to the market. Energy applications
that address everything from machine reliability and uptime to
fleet-wide operations are sold and delivered on GE’s Predix
platform, a cloud-based platform purpose-built for developing,
deploying, operating and monetizing Industrial Internet
applications.
Collaborating with PCI to better integrate asset performance as
well as commercial and operations-level data offers a more
comprehensive view of important data to energy producers and an
end-to-end set of Predix-enabled software solutions for power, from
operations to bidding to billing.
PCI’s solutions are used by generating companies, utilities and
independent power producers to simplify and automate the energy
trading processes, including asset valuation and bid formation. GE
Power’s existing Digital Power Plant software suites address
machine and fleet performance. GE’s Asset Performance Management
(APM) application suite improves the reliability of power
generating machines, reducing unplanned downtime by up to 5
percent, reducing false positive alerts by up to 75 percent and
reducing operations and maintenance costs by up to 25 percent. GE
Power’s Operations Optimization for Power application helps power
producers increase plant capacity and revenue generation by
increasing megawatt output and ensuring that plant operators can
respond quickly to market opportunities.
Offering PCI’s solution as an additional business optimization
application on Predix removes the barriers between the machine,
operations and commercial sides of energy businesses, giving a
comprehensive view of how much energy can be generated and at what
cost. The integrated business, operations and asset-level software
applications will allow for better planning, trading, and day-ahead
and real-time bidding in the energy and ancillary services
market.
Using operations data to understand a plant’s energy generation
capacity and connecting that information to energy market trading
can further improve the process for traders by reducing the risk of
penalties levied when generating businesses overcommit to the
market or by increasing revenue when the companies undercommit and
do not fully use potential generating capacity. Existing GE and PCI
customers can also benefit from the collaboration, with operations
and trading solutions delivered on Predix as a single platform
available globally.
“Integrating PCI’s market forecasting and trading solution with
GE’s Digital Power Plant offerings gives our customers an even more
comprehensive software portfolio to address the asset, operations
and industry levels of power generation and trading,” said Jay
Allardyce, chief operating officer of GE Power’s Digital Solutions
business. “GE is offering leading industrial applications such as
PCI on the Predix platform as part of expanding our software and
solutions ecosystem, helping customers on their journey to
digitizing their energy businesses.”
“PCI has delivered world-class solutions to the energy industry
for more than two decades,” said Jason Kram, senior vice president
and chief marketing officer, PCI. “Partnering with GE will enable
us to deliver these solutions on the Predix platform built for
industrial customers, and extend our reach worldwide.”
About Power Costs, Inc. (PCI)
PCI is the leading provider of generation supply management
software, superior customer support and value-added services for
energy focused companies. Founded in 1992 by Dr. Fred Lee, PCI
continues to refine and develop new software solutions that meet
the ever-evolving needs of its clients which include
investor-owned, municipal and cooperative utilities, independent
power producers as well as energy marketing and trading
organizations. More than half of all the power generated in the
United States is optimized using PCI software solutions and over
60% of the Fortune 500 Energy and Utility firms in the U.S. are PCI
clients. PCI is a privately held company based in Norman, Oklahoma
with offices in Houston, Texas and Raleigh, North Carolina. To
learn more about PCI, please visit www.powercosts.com.
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.
For more information, visit the company's website at
www.gepower.com. Follow GE Power on Twitter @GE_Power and on
LinkedIn at GE Power.
*Predix is a trademark of the General Electric Company.
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version on businesswire.com: http://www.businesswire.com/news/home/20161130005466/en/
Power Costs, Inc. (PCI)Jason Hebert, M +1-713-231-7454Vice
Presidentjhebert@powercosts.comorGE Power, Power Digital
SolutionsAshley Nelson, +1-925-316-9197Ashley.Nelson1@ge.com
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