POWER January 2022 - 18

EXECUTIVE INSIGHT
SPONSORED CONTENT
These living, learning models are virtual representations of
physical assets that make an impact on energy operations by
providing a chance to troubleshoot issues before they occur
and maximize output. That saves companies a ton of money,
savings they can then invest elsewhere.
A Shift in Power:
Navigating Energy Transition
It's so easy to focus on what you want to do next, especially
this time of year. We all like to forget our half-finished,
possibly never started, business goals and begin making
new ones. That's a great attitude to have, but to make sure
you're setting the right objectives and coming up with a plan
to achieve them you need to look back on what happened in
the industry in the past 12 months. Let's take that journey
together, because to get where you're headed you need to
know where you've been.
Just like every other year, things were a little
unpredictable
For lifers in the energy industry, uncertainty is nothing
new. Hurricane Ida put an unexpected damper on power
generation as well as oil and natural gas production, driving
prices up across the board. This was good news on a microlevel
for those who were unaffected, but it also meant some
operations had to shift from playing offense to defense.
Technology changed how we produce energy and where
we send it
Technology is always evolving, but the most remarkable
part isn't the actual software updates or physical electronics,
it's the impact that it can have on the world. We started seeing
opportunities in new markets because of an emerging middle
class in various regions. That's really exciting because more
people are gaining access to modern conveniences and new
technologies. This is life-changing.
Digital technology is the driving force that inspired this
type of change because it lets companies provide energy at
an affordable rate. Innovators like GE Digital give energy
producers the ability to see who needs power at what time,
which helps them deliver it at the lowest cost. It even gives
them better visibility by creating models based on demand,
weather patterns and a lot more.
There's another aspect that shouldn't be overlooked when
we talk about the transformation of the industry: digital twins.
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This industry is committed to a sustainable future
Energy transition is a hot topic. Companies like GE
Digital, who have been among the most respected names
in the industry, have taken it upon themselves to develop
innovative solutions and to improve upon what's already out
there.
GE Digital's industrial software helps ensure reliable,
efficient power in 950+ generation plants in 75+ countries,
and supports operational excellence in 6 of the 7 oil and gas
supermajors and 1/3 of the ICIS Top 100 Chemical companies.
Those numbers alone should speak to the amount of cache
the organization holds throughout the sector.
But GE Digital did a lot more than help with the day-today,
they helped lay the foundation for a more sustainable
future. As highlighted by Pat Byrne, CEO of GE Digital, " As we
work with our customers to handle a broader mix of energy
sources, we're helping them achieve their decarbonization
goals faster and more efficiently. "
What can we expect in 2022?
Energy transition will remain at the forefront of the
industry. We'll see new approaches toward decarbonization,
digitalization and decentralization, which will undoubtedly
help companies inch closer towards achieving their longterm
goals. We should also expect technology to play a major
role in combatting the unpredictable nature of the business
while providing stability to energy producers and consumers
alike.
GE Digital keeps the industry running
Who relies on GE Digital software for asset and operations
performance management?
* 950+ power generation plants in 75+ countries
* 6 of the 7 oil and gas supermajors
* 1/3 of the ICIS Top 100 Chemical companies
ge.com/digital/energy-transition
www.powermag.com
POWER | January 2022
https://ge.com/digital/energy-transition http://www.powermag.com
POWER January 2022

Table of Contents for the Digital Edition of POWER January 2022
