![]() ![]() Some of these updated roles include the following: This means that digitization will lead to updated roles, rather than reduced headcount. When it comes to power-plant transformations, many companies make the same mistake.Įxplaining how different roles within a power plant are affected shows workers that successful digital transformations make smart use of data and efficient ways of working to focus on performance improvement. As a result, workers are often left guessing how digital and analytics can improve their day-to-day tasks some might even perceive the transformation as a threat rather than an opportunity (for example, they may believe automation will make their jobs redundant). Many companies across industries fail to articulate a clear vision for their digital transformations. However, those setting off on their transformation journeys face five common pitfalls. While these “traditional” programs were successful in the short term, our research shows that end-to-end digitization can realize additional average earnings before interest, taxes, depreciation, and amortization (EBITDA) potential of 20 to 30 percent. Our research shows coal and gas contribution to the fuel mix will stay constant until 2030, after which it will decrease toward 2050 (Exhibit 1).īecause of cost pressure from the recent shift to renewable energy sources, some utilities have completed several rounds of lean transformation programs to increase the competitiveness of their assets. Thermal generation still dominates the global fuel mix, with coal and gas making up 62 percent and representing 16 petawatt-hours (PWh) today. Power-plant digital transformations face common pitfalls ![]() In this article, we explain what a successful digital transformation across the four areas looks like as well as the most important themes to create value. Tech-enabled transformation combines new technologies with traditional improvement and can provide large value across four key areas: operations maintenance energy efficiency and health, safety, security, and environment (HSSE). These conditions have led to consistent, major pitfalls across markets. Similar developments are expected in Asian markets, such as in Japan. Further complicating matters, cost pressure for thermal assets-namely, coal and gas-continues to rise because of ongoing power-market liberalization and large-scale deployment of various renewable energy sources, such as solar and wind in Europe and the United States. Simply put, power companies are not nearly as advanced as they could be, so operations and maintenance costs are higher than they could be. In fact, there are no global end-to-end cases of digitization in power generation even the most technologically advanced players have implemented only a small number of isolated digitization use cases, which are often not directly tied to business value. Yet many players are only now taking steps to create value from tech-enabled initiatives and establish new ways of working. Like many other industries, power generation is becoming increasingly digitized. ![]()
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