NEWARK, N.J., June 7, 2016 /PRNewswire/ -- IDG's CIO has named PSEG to its 2016 CIO 100. The 29th annual award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT). PSEG was recognized for its innovative use of analytic software technologies that support the company's industry-leading PSEG Fossil Monitoring & Diagnostic (M&D) Center.
The M&D Center is a predictive analytics tool that will eventually detect live operational or equipment problems across 14 power plants in four states (currently, 10 plants are being monitored across three states). Its ability to monitor plant efficiency in real-time, adjust to maximize power generation output, and recommend preventative maintenance activities has increased the safety, cost-efficiency and run time of the fossil fleet.
"The cost to maintain reliability has changed over the years. Our new M&D Center is helping us mitigate issues before having to take a plant offline to perform maintenance," said Richard P. Lopriore, president-PSEG Fossil. "The power business of the future must be cost-competitive, and what I call 'diagnostic-based maintenance' will continue to increase reliability, reduce forced outages, and improve plant productivity."
"We are honored to be recognized by CIO for this innovative approach to using big-data analytics to improve the performance of our fossil fleet," said Joseph Santamaria, PSEG chief information officer. "Collecting performance data from multiple plants and power generation units allows the models to be self-improving, which leads to more precise failure prediction and better efficiency. An outstanding PSEG Fossil and IT team, working with numerous vendors, drove this project to success."
More than 90,000 live data points from 10,000 sensors monitoring vibration, temperature, oil, motor, ultrasound, leak detection, and pressure feed the M&D Center's predictive analytics model. These sensors eliminate the need for manual inspection and measurement, increasing employee safety by reducing exposure to dangerous operating environments. The Center's advanced pattern recognition software uses this data for early warning maintenance detection, predicting problems before they appear.
"Delivering innovation and business value are top priorities for CIOs everywhere, and our CIO 100 awards program celebrates the leading IT organizations that excel at both," said Maryfran Johnson, Editor in Chief of CIO Events. "Our 2016 winners are raising the bar even higher this year with their outstanding work in digital transformation, customer focus and IT-business collaboration."
Executives from the winning companies will be recognized at The CIO 100 Symposium & Awards Ceremony, to be held Tuesday evening, August 16, at the Terranea Resort in Rancho Palos Verdes, California.
PSEG Power LLC is an independent power producer that generates and sells electricity in the wholesale market, with a fleet totaling 11,782 MWs of electric generating capacity. It is a nationally recognized industry leader on environmental issues. PSEG Fossil LLC is one of four main subsidiaries of PSEG Power, and operates the company's portfolio of natural gas, coal and oil-fired electric generating units.
PSEG Power is a subsidiary of Public Service Enterprise Group Incorporated (PSEG) (NYSE: PEG), a diversified energy company with annual revenues of $10.4 billion. Its operating subsidiaries are: Public Service Electric and Gas Company (PSE&G), PSEG Power, and PSEG Long Island.
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About the CIO 100
Recipients of this year's CIO 100 Award were selected through a three-step process. First, companies filled out an online application form detailing their innovative IT and business initiatives. Next, a team of external judges (many of them former CIOs) reviewed the applications in depth, looking for leading-edge IT practices and measurable results. Finally, CIO editors reviewed the judges' evaluations and selected the final 100.
Coverage of the 2016 CIO 100 Awards will be available online at CIO.com on August 1, 2016 and in the August issue of CIO's digital magazine.
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SOURCE Public Service Enterprise Group (PSEG)