The New York Power Authority (NYPA) has made another major step toward becoming a fully digital utility with the authorization of an additional capital expenditure of $14.7 million to continue implementing Asset Performance Management (APM) software from General Electric International (GE).
The NYPA Board of Trustees authorized the expenditure at its December 18 meeting. Once fully implemented, the APM software platform will enable NYPA to optimize the performance of its power generation and transmission assets using enhanced data analytics to improve reliability, increase availability, minimize costs and reduce operational risk.
“Becoming the nation’s first end‑to‑end digital utility requires a transformation of the tools and business processes that we use to manage our assets,” says Gil C. Quiniones, president and CEO of NYPA. “APM improves our ability to quickly adjust to dynamic conditions through the digitization and near real‑time monitoring of key performance parameters for NYPA’s vast generation and transmission assets. This funding is critical in allowing us to move forward with implementation.”
The $14.7 million will be used to develop a detailed implementation plan, including testing and eventual rollout of the APM software to generation and transmission assets. The funding will also cover software licensing fees and support from information technology and program management. It adds to the $2 million previously approved in February 2018 for the implementation of foundational asset monitoring and predictive maintenance software.
NYPA will use the APM platform to strategically shift toward a more flexible and resilient energy system that provides increasingly economical, reliable and sustainable power. This operational flexibility will be vital in serving NYPA’s customers as the energy market adopts the new sources of energy production and storage outlined in Governor Andrew M. Cuomo’s Reforming the Energy Vision (REV) strategy. Additionally, APM supports NYPA’s commitment to attaining the International Organization for Standardization (ISO) certification by embedding asset management best practices and data‑driven decision making.
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