Digital transformation ‘goes mainstream’ in energy industry

General Electric’s software deal with US energy utility Exelon signifies a massive change occurring in the broader electricity market. Exelon will deploy GE’s Predix software and applications across its 91 power plants, which produce 32,700 megawatts and supply more than 10 million customers.

GE’s cloud-based operating system could save Exelon up to 25% in maintenance and operations costs by collecting data to improve the company’s productivity. GE’s technology, in its initial uses, has increased power plant efficiency by 3% and reliability by 5%. Exelon’s deployment is almost six times larger than the previous GE deal, signed in October 2016, with the New York Power Authority and covering 16 power plants in New York state that generate about 5,600 megawatts.

A paper published by the World Economic Forum in early 2016 states that the electricity sector is ripe for realising value from rapid digital transformation. The paper estimates that there is US$1.3 trillion of value up for grabs globally, from 2016 to 2025.

For more information on digital transformation going mainstream in the energy industry, see full article.


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