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Introduction
Company
Competitive Power Ventures (CPV)
Industry
Power Generation
Results Overview
Competitive Power Ventures (CPV) is using GE Vernova’s Performance Predictions and Fuel Nomincations software to drive significant operational production gains. Manual Excel-based processes have been replaced with AI/ Machine Learning algorithms, enabling CPV to compile weather data and plant status to more accurately predict the hourly capacity and heat rate of their plants.
GE Vernova’s Generation Optimization and Planning software solutions create digital twins of processes and assets to help team members more accurately predict day-ahead and intraday plant capacity and heat rate. This helps CPV to make the most profitable use of that capacity through improved commitment preparation and fuel nomination.
GE Vernova’s Generation Optimization and Planning software solutions create digital twins of processes and assets to help team members more accurately predict day-ahead and intraday plant capacity and heat rate. This helps CPV to make the most profitable use of that capacity through improved commitment preparation and fuel nomination.
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CPV uses Asset and Process Digital Twins
Headquartered in Silver Spring, Maryland, Competitive Power Ventures (CPV) has ownership interest in 4.2 Giga Watts (GW) of clean generation across the United States. The company’s Asset Management division currently manages more than 9,300 Mega Watts (MW) of fossil and renewable generating facilities in nine states for 12 different owner groups. CPV is dedicated to increasing America’s energy sustainability by providing safe, reliable, cost-effective and environmentally responsible electric power. Through investments in world-class innovation, including GE Gas Power’s cutting-edge gas turbine combustion technology, CPV is continuously improving its ability to serve the millions of customers that use its electricity every day.
It's been a very positive experience working with GE. We've seen an increase in output, we've seen improved performance.
Joe Michienzi
Vice President, Asset Management, CPV
Excel-based process create delays and inaccurate data
CPV is driven to provide world-class asset management by developing and operating power generation facilities using cutting edge, domestically available natural gas and renewable power technologies. However, limitations due to manual processes and static models used in daily dispatch decisions were hindering their ability to realize their full vision.
Every plant participating in an Independent System Operator (ISO) market must submit Day Ahead bids. How CPV predicted a plant’s output to bid into the Day Ahead market involved a manual process requiring operators to submit an Excel file with simplified correction curves and links to a weather website. Filing guidelines were strict – an exact time frame, to specific users, using an exact subject line.
CPV automated the process as much as possible, but weather data delays, missed deadlines due to important issues at the plant, and even simple spelling errors, often negated the team’s efforts to deliver as desired. Most notably, predicted MW output was not always accurate.
CPV is driven to provide world-class asset management by developing and operating power generation facilities using cutting edge, domestically available natural gas and renewable power technologies. However, limitations due to manual processes and static models used in daily dispatch decisions were hindering their ability to realize their full vision.
Every plant participating in an Independent System Operator (ISO) market must submit Day Ahead bids. How CPV predicted a plant’s output to bid into the Day Ahead market involved a manual process requiring operators to submit an Excel file with simplified correction curves and links to a weather website. Filing guidelines were strict – an exact time frame, to specific users, using an exact subject line.
CPV automated the process as much as possible, but weather data delays, missed deadlines due to important issues at the plant, and even simple spelling errors, often negated the team’s efforts to deliver as desired. Most notably, predicted MW output was not always accurate.
Streamlined Operations
Better accuracy, more consistency and greater flexibility to adapt
In an effort to streamline and automate operations at its plants, CPV adopted GE Vernova’s Performance Predictions and Fuel Nominations software which analyzes historical data, plant operations and other data sources to predict capacity to improve day ahead and intraday planning, deliver executable advice and drive desired outcomes.
By creating a Digital Twin of critical plant processes, energy traders, asset and plant managers can better understand the day-ahead and potential plant capacity, as well as how to make the most profitable use of that capacity through commitment preparation, fuel nomination and dispatch planning.GE Vernova’s Generation Optimization and Planning software suite includes solutions that leverage machine learning to derive a more accurate predictor of capacity and allows CPV to maximize their ability to offer the most MWs in the Day Ahead market and not expose them to real-time market pricing if the forecast is off. This helps CPV to increase their Day Ahead revenues. It also provides more accurate performance predictions because it includes the use of barometric pressure, which has a direct effect on power output and was not easy to bring into the Excel calculation. Unlike the previous Excel models, the software solutions, Performance Predictions and Fuel Nominations are reliable, consistent and adaptable - automatically adjusting to weather formats as they change and providing configurable reports tailored to the needs of different energy managers for plants in different ISOs. Furthermore, with GE Vernova the operators no longer need to worry about sending out the report and can focus on their time where it is needed most – reliably operating the plant.
In an effort to streamline and automate operations at its plants, CPV adopted GE Vernova’s Performance Predictions and Fuel Nominations software which analyzes historical data, plant operations and other data sources to predict capacity to improve day ahead and intraday planning, deliver executable advice and drive desired outcomes.
By creating a Digital Twin of critical plant processes, energy traders, asset and plant managers can better understand the day-ahead and potential plant capacity, as well as how to make the most profitable use of that capacity through commitment preparation, fuel nomination and dispatch planning.GE Vernova’s Generation Optimization and Planning software suite includes solutions that leverage machine learning to derive a more accurate predictor of capacity and allows CPV to maximize their ability to offer the most MWs in the Day Ahead market and not expose them to real-time market pricing if the forecast is off. This helps CPV to increase their Day Ahead revenues. It also provides more accurate performance predictions because it includes the use of barometric pressure, which has a direct effect on power output and was not easy to bring into the Excel calculation. Unlike the previous Excel models, the software solutions, Performance Predictions and Fuel Nominations are reliable, consistent and adaptable - automatically adjusting to weather formats as they change and providing configurable reports tailored to the needs of different energy managers for plants in different ISOs. Furthermore, with GE Vernova the operators no longer need to worry about sending out the report and can focus on their time where it is needed most – reliably operating the plant.
Results
GE Vernova’s Performance Predictions and Fuel Nominations software has driven efficiency and optimization across CPV’s operation.. Cumbersome, manual Excel-based processes have been replaced, enabling CPV to compile weather and plant status to predict megawatt output, which allows for increased accuracy while reducing man-hours and potential for errors. GE Vernova’s Digital Twin software helps team members predict day-ahead and intraday plant capacity to make the most profitable use of that capacity through commitment preparation, fuel nomination and dispatch planning. CPV’s mission in modernizing America’s electric grid by providing safe, reliable, cost-effective and environmentally friendly electric power is made possible with the help of innovative solutions. GE Vernova Performance Predictions and Fuel Nominations software.
CPV and GE Vernova have built a longstanding and prosperous relationship, which will continue to be nurtured and fostered in years to come as their teams work toward the same goal of efficient, reliable and affordable energy generation.
CPV and GE Vernova have built a longstanding and prosperous relationship, which will continue to be nurtured and fostered in years to come as their teams work toward the same goal of efficient, reliable and affordable energy generation.