In recent years, the importance of asset monitoring systems for power utilities has increased significantly due to the pressing challenges of an aging workforce and, with the advent of the Internet of Things megatrend, an exponential growth of devices connected to the grid.
The head of the UK’s Association for Decentralized Energy is calling on the country’s energy regulator Ofgem to launch a full Significant Code Review on network charging, as current short-term proposals put industrial manufacturing jobs at risk, and would increase the cost of keeping the lights on and delivering the UK’s low carbon ambitions.
The use of GE’s Asset Performance Management Software (APM) is set to provide the 445 MW Whitegate combined cycle gas-fired power plant in Cork, Ireland with potentially €1.2m in savings, thanks to cost avoidance potentialities being identified.
GE’s recent acquisition of Alstom’s Power & Grid businesses gives the company a more robust global business presence at a time when the world is expected to invest a projected $17 trillion in power and grid technologies over the next 20 years to help develop more sustainable modern economies and improve the quality of life for the world’s population.
While the UK government this week produced a new document aiming at developing the country’s smart grid sector, London-based Tempus energy announced winning an additional £3.78m in funding to bring its investment in Smart Grid technology to a total of £5m.
Technological advances, political imperatives and economic drivers all play their role in the evolution of energy generation portfolios.