camput mark little may 3rd, 2005. the ge portfolio … ge energy ge advanced materials ge healthcare...
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CAMPUT
Mark LittleMay 3rd, 2005
The GE Portfolio …
GE Energy
GE Advanced Materials
GE Healthcare
GE Transportation
GE Equipment Services
GE Consumer & Industrial
GE Consumer Finance
GE Commercial Finance
NBC Universal
GE Infrastructure
GE Insurance Solutions
GE Energy Business Profile
•Currently operating in more than 100 countries … 100+ years
•Over 37,000 employees … 500 locations
•2004 revenue ~$17B
•2005 estimate ~ $20B
GE Energy … Broad Range of Technologies
NuclearO&G AeroServicesPower Generation
Gas / SteamWind Hydro
Global Fundamental Energy Challenges …Energy consumption ... +20% Population, +30%
Consumption
Environment …+1%/yr increase in CO2 emissions from energy
Energy security … 25% of NA Energy is Imported
Fuel challenge … Oil Price at record levels
Energy poverty … 1B people without enough energy
Infrastructure adequacy … NE(USA+Canada) blackout of ‘03
Need for More Energy, More Choices, More Flexibility
Cleaner … more efficient … more affordableCleaner … more efficient … more affordable
Cost of electricity(COE)
Affordable, reliable &
environmentally responsible
ConversionFuels
Gas
Oil
Coal
Nuclear
Geothermal
Biomass
Hydro
Wind
Solar
Gas
Oil
Coal
Nuclear
Geothermal
Biomass
Hydro
Wind
Solar
Effi
cien
cy
Delivery
Relia
bili
ty
Power Generation Technology Objectives
Em
ission
s
France / Germany
Denmark
… Multiple Conversion Platforms Essential
USUS
Russia
JapanJapanChinaChina
BrazilBrazil
AustraliaAustralia
Source: IEA Electricity Information
CoalGasNuclearHydroSolar / Wind
Coal
Hydro
Nuclear
Gas
Coal
Coal
Coal
Coal
Canada (560 TWh)Canada (560 TWh)
Hydro
Technology Choices of the Future … Allow Tradeoffs
Fuel
Fossil Project
Turbine70%
Wind Project
Turbine& BOP40%
Cost
FuelAvailability Limited
Price Predictability
Intermittent
Hydro Project
Limited
74%Civil Work
Seasonal &
limitedHigh
High HighFuel Mkt
based
World Power Generation Market Orders
0
50
100
150
200
1994 1996 1998 2000 2002 2004
Gas
GW
Order year
Coal
Wind + Other
Source: EPM S1 Forecast
2005
2015
Hydro12%
Wind & Other2%
Coal26%
Petroleum4%
Gas53%
Nuclear3%
Hydro13%
Wind 3%
Coal41%Gas
35%
Petroleum3%
Nuclear3%
Other2%
Alternatives Becoming a Significant Contributor … and Growing
Source: Shell Global Scenarios
0%
20%
40%
60%
80%
Coal
Nuclear
Oil
Gas
Hydro
Traditional (Wood, etc.)
1850 1875 1900 1925 1950 1975 2000 2025 2050
Wind, PV, other
renewables
% o
f Pri
mary
Energ
y
Renewable Targets• W. Europe 10% by 2010
20% by 2020
• US … 17 statesNY 25% by 2013California 20% by 2017
• China … 26 GW by 2020
What’s Next?Real Time: 2005 – 2008
Prime Time: 2009 – 2011In Time: 2012 – 2015
In-Time
Prime-Time
Real –Time
Technology is Critical … Requires Long Term Support
¢ p
er
kWhr
1980 1990 2000 2010
20 ¢
5 ¢
0 ¢
15 ¢
10 ¢
$$
Ideas
Pure research
Niche applications
Gas CC, Coal, Nuclear, Hydro
Fuel cell
Photovoltaic
Next“WOW”
Hybrids
Wind
Biomass
OEM Look for …
What’s Next … Real Time at GE
Thermal• Commercial launch of H System TM …
60% combined cycle efficiency • Launched LMS100TM …
46% simple cycle efficiency• Oil & Gas … world’s largest LNG train,
cost economies down 50% last 10 years
Renewables and Zero Emissions
• Wind … 2500+ 1.5 MW units worldwide, developing new family of multi-megawatt turbines
• Biomass – Jenbacher leads in low BTU application - increased fuel flexibility
• Hydro – Reversible pump turbine for storage
Thermal• Commercial launch of H System TM …
60% combined cycle efficiency • Launched LMS100TM …
46% simple cycle efficiency• Oil & Gas … world’s largest LNG train,
cost economies down 50% last 10 years
Renewables and Zero Emissions
• Wind … 2500+ 1.5 MW units worldwide, developing new family of multi-megawatt turbines
• Biomass – Jenbacher leads in low BTU application - increased fuel flexibility
• Hydro – Reversible pump turbine for storage
What’s Next … Prime Time at GE
•Cleaner Coal … targeting bids for COE equivalent to pulverized coal by 2008
• Solar … COE from 30¢/kWh to 18¢/kWh by 2008, targeting 10 by 2010
•Solid Oxide Fuel Cells ... 1 MW, competitive COE, 65%+ efficiency, low emissions (<1.5 ppm NOx), available in 2010+
•Nuclear … More economical, generates electricity and hydrogen
•Cleaner Coal … targeting bids for COE equivalent to pulverized coal by 2008
• Solar … COE from 30¢/kWh to 18¢/kWh by 2008, targeting 10 by 2010
•Solid Oxide Fuel Cells ... 1 MW, competitive COE, 65%+ efficiency, low emissions (<1.5 ppm NOx), available in 2010+
•Nuclear … More economical, generates electricity and hydrogen
What’s Next … In Time at GE($MM)
0
50
100
150
200
250
300
'02 - '04 '05 - '07
Externalfunding
Internalfunding
Hydrogen• Infrastructure game changer• No greenhouse emissions
Solid oxide fuel cells• Advanced hybrid cycle … 65%
efficiency
Next generation coal
• Carbon capture & CO2 sequestration
Next generation nuclear• More economical• Generate electricity and
hydrogen
Wind…Technology Synergies Drive Improvement
Pitch ControlGE Energy & GE
GRC
Gearbox & Drivetrain GE
Transportation
BladesGE Advanced Materials &
GE Transportatio
n
Power ElectronicsGE Energy
Utilizing GE Technology
Availability
‘02 ‘04
96 %
88 %
Size (MW)
‘85 ‘90 ‘95 ‘00 ‘05 ‘10
Cost of Electrici
tySize(MW)
0
4
8
0
4
8
12
CoE(¢/kWh)
Canada: Wind & Hydro Complement Each OtherWhile Hydro inflow is low
…Wind blows during peak
hrs
Biogas
Sewage Gas
Jenbacher … Applications
Non-Natural Gas• Biomass…another renewable
energy source
• Capturing/using gas that would otherwise be vented or flared
Natural Gas, Low-Emissions
• Industrial cogeneration & trigeneration
• Municipal CHP (district heating)
• Greenhouse … CHP + CO2 injection
MarketableByproducts:Sulfur
SulfurRemoval
Syngas
ElectricitySteam
Combined CyclePower Block
MarketableByproducts:
Solid feed – SlagGas/Liquid feed - Ash
Gasifier
IGCC… Cleaner Coal PowerGE now offering single point IGCC solution
Driving Cost of Energy towards parity with pulverized coal
Solar … Photovoltaic Technology Roadmap
Industry Leadership
‘06-’07
Improve What
We Acquired
Introduce Game-changer
Building-integrated PV Module
COE 30 ¢/kWh
Future
COE 18 ¢/kWh
‘04-’05
COE 10 ¢/kWh
• Environmental Issues will continue to grow in importance
• A balanced energy portfolio requires multiple conversion technologies.
• Stable economic & policy environment allows industry to invest more quickly in emerging technologies
• Industry is focused on providing value-add solutions to customers
There is No Crystal-ball to Predict the Future … But as Power Suppliers We Know
Thank You!
Mark LittleMay 3rd, 2005