Ignitis Gamyba Chooses GE Digital’s OPM Production Planning Software to Accurately Forecast Day-Ahead Electricity Trading

Rhea-AI Summary

GE Digital announced that Ignitis Gamyba, Lithuania's largest power producer, will implement its OPM Production Planning solution. This software aims to minimize uncertainty, enhance power generation reliability, and reduce operational costs. By automating data transmission, the solution is expected to improve forecasting accuracy and planning efficiency. Ignitis Gamyba seeks to maximize electricity sales and reduce imbalances while ensuring stable power supply. CEO Rimgaudas Kalvaitis highlighted the software's potential to optimize production capacity and enhance shareholder benefits.

Positive

• Partnership with Ignitis Gamyba improves OPM Production Planning capabilities.
• Software enhances forecasting accuracy and reduces operational costs.
• Automates data transmission, minimizing human error.

Negative

• None.

• OPM Production Planning can help to ensure secure, stable power while maximizing margins and managing risk with accurate capacity predictions and decision support

• Software also helps Ignitis Gamyba to automate data transmission for more optimal planning of natural gas procurement and process organization

SAN RAMON, Calif.--(BUSINESS WIRE)-- GE Digital today announced that Ignitis Gamyba, the largest power producer in Lithuania, has chosen to implement OPM Production Planning an Operations Performance Management solution. GE Digital’s OPM Production Planning solution minimizes uncertainty to ensure reliability of power generation to meet demand, lower the generation costs and improve profitability. The software is designed to provide accurate forecasting of maximum unit power, fuel nomination, and the automation of data transmission for day-ahead operation planning and electricity trading.

Offering real-time insights into plant or fleet power generation potential, OPM Production Planning helps traders, dispatch planners, asset and plant managers understand the day-ahead and intraday plant capacity, and how to make the most profitable use of that capacity through commitment preparation, fuel nomination and dispatch planning. Better economic-based decisions can be made regarding plant offers and dispatch with solution-supported operational insights into factors such as the available capacity – its value and cost – in conjunction with a range of plant specific constraints, such as marketplace conditions, emissions limits, fuel penalties, start-up and turndown durations and cost.

Ignitis Gamyba’s objectives for forecasting include reducing the probability of imbalance, maximizing the efficiency of the unit, and expanding electricity sales, all with the mission to ensure secure and stable power in the region. The company is also looking to reduce potential losses due to imbalances, with no corrective action required to adjust the amount of power and the power schedule. By implementing OPM Production Planning, automating data transmission will reduce the potential for human error and data exchange errors between operational staff and trade staff. It will also provide more optimal planning of natural gas procurement and organization of the day-ahead process.

“OPM Production Planning contributes to the possibility of making the most efficient use of the production capacity of the combined cycle unit for commercial electricity generation,” said Rimgaudas Kalvaitis, CEO of Ignitis Gamyba. “The software is a functional product that allows us to ensure optimal forecasting of unit power and the exchange of information between responsible employees. This creates benefits for the company, shareholders, and the country of Lithuania as a whole.”

OPM Production Planning empowers employees to optimize under uncertainty, to reduce generation costs and increase profitable generation. It operationalizes predictive and prescriptive analytics to reduce future uncertainty and remove inefficiencies held between the asset/system capabilities and the commercial/operating teams.

“Software drives performance with analytics and automation to allow energy companies analyze and proactively balance critical variables like weather, supply/demand patterns, and asset health and efficiency to make better business decisions,” said Linda Rae, General Manager of GE Digital’s Power Generation and Oil & Gas business. “We’re proud to work with Ignitis Gamyba as they pursue their long- term vision and ensure continuity and sustainable operations.”

Click on these links for more information about GE Digital’s Operations Performance Management software and other solutions for the Power Generation industry.

About GE Digital
GE Digital, an integral part of GE Vernova, is a $1 billion software business putting data to work to accelerate a new era of energy. GE Digital has pioneered technologies like Industrial AI and Digital Twins to serve industries that matter for decarbonization like energy, manufacturing, aviation. Our software drives insights customers need to transform how they create, orchestrate, and consume energy. Over 20,000 customers world-wide use our software to fuel productivity and reliable operations while reducing costs and carbon for a more sustainable world. For more information, visit www.ge.com/digital. GE Vernova, a dynamic accelerator comprised of our Power, Renewable Energy, Digital and Energy Financial Services businesses, focused on supporting customers’ transformations during the global energy transition.

© 2022 General Electric. All rights reserved. GE, the GE logo, and associated product names are either registered trademarks or trademarks of General Electric in the United States and/or other countries. All other trademarks are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220809005245/en/

Rachael Van Reen

GE Digital

rachael.vanreen@ge.com

Source: GE Digital

FAQ

What is the significance of GE Digital's partnership with Ignitis Gamyba?

The partnership enhances GE Digital's OPM Production Planning capabilities, improving power generation reliability and profitability for Ignitis Gamyba.

How does OPM Production Planning help Ignitis Gamyba?

It minimizes uncertainty, optimizes forecasting, automates data transmission, and supports better decision-making for power operations.

What are Ignitis Gamyba's objectives with the new software from GE Digital?

The objectives include maximizing electricity sales, reducing imbalances, and ensuring stable power supply in Lithuania.

When was the OPM Production Planning solution announced for Ignitis Gamyba?

The announcement was made on August 9, 2022.

What role does the OPM Production Planning software play in power generation?

It provides insights into plant capacity, assists in economic decision-making, and improves operational efficiency.