NYPA Press Release

New York Power Authority Authorizes Funding for Asset Performance Management Software

For Immediate Release: 12/27/18

Contact: NYPA Media Relations | 914-681-6770 | media.inquiries@nypa.gov

 

WHITE PLAINS—The New York Power Authority (NYPA) announced today 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,” said 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 utilize 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.

 

About NYPA:
NYPA is the largest state public power organization in the nation, operating 16 generating facilities and more than 1,400 circuit-miles of transmission lines. More than 70 percent of the electricity NYPA produces is clean renewable hydropower. NYPA uses no tax money or state credit. It finances its operations through the sale of bonds and revenues earned in large part through sales of electricity. For more information visit www.nypa.gov and follow us on Twitter @NYPAenergy, Facebook, Instagram, Tumblr and LinkedIn.

About REV:
Reforming the Energy Vision (REV) is Governor Andrew M. Cuomo's strategy to lead on climate change and grow New York's economy. REV is building a cleaner, more resilient and affordable energy system for all New Yorkers by stimulating investment in clean technologies like solar, wind, and energy efficiency and generating 50 percent of the state's electricity needs from renewable energy by 2030. Already, REV has driven a nearly 800 percent growth in the statewide solar market, enabled over 105,000 low-income households to permanently cut their energy bills with energy efficiency, and created thousands of jobs in manufacturing, engineering, and other clean tech sectors. REV is ensuring New York State reduces statewide greenhouse gas emissions 40 percent by 2030 and achieves the internationally-recognized target of reducing emissions 80 percent by 2050. To learn more about REV, including the Governor's $5 billion investment in clean energy technology and innovation, please visit rev.ny.gov, and follow us on Twitter, Facebook, and LinkedIn.