GE Energy Wins The New Economy Smart Grid Award 2010

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GE Energy

03 Feb, 2011, 08:00 GMT

CAMBRIDGE, England, February 3, 2011 /PRNewswire/ -- The New Economy has selected GE (NYSE: GE) as Monitoring and Communications Company of the Year in the field of smart grid technology. The Smart Grid Awards recognize the companies which are set to guide the new energy future.

"Globally, we are facing unprecedented energy challenges," said Keith Redfearn, general Manager-digital energy in Western Europe for GE Energy Services. "Forty percent of our emissions are from the generation of electricity[1], and global electricity demand is expected to grow 75 percent by 2030[2]. Smart grid has the potential to transform our electrical infrastructure to meet our 21st century needs. GE's Grid IQ(TM) solutions allow utilities to monitor their networks and enable them to optimize generation based upon real-time demand. Consumers also benefit as they are empowered with information to better monitor energy usage. The majority of U.K. energy distribution networks already use GE software to manage their systems, and GE's smart meters have been involved in a number of successful trial projects and deployments in Western Europe."

About GE

GE (NYSE: GE) is a diversified infrastructure, finance and media company taking on the world's toughest challenges. From aircraft engines and power generation to financial services, health care solutions and television programming, GE operates in more than 100 countries and employs about 300,000 people worldwide. For more information, visit the company's website at http://www.ge.com.

GE serves the energy sector by developing and deploying technology that helps make efficient use of natural resources. With nearly 85,000 global employees and 2010 revenues of $38 billion, GE Energy http://www.ge.com/energy is one of the world's leading suppliers of power generation and energy delivery technologies. The businesses that comprise GE Energy-GE Power & Water, GE Energy Services and GE Oil & Gas-work together to provide integrated product and service solutions in all areas of the energy industry including coal, oil, natural gas and nuclear energy; renewable resources such as water, wind, solar and biogas; and other alternative fuels.

[1] Source: International Energy Agency 2010

[2] Source: International Energy Agency 

    
    For more information, please contact:

    Neil Gazeley
    GE Energy Services
    +44-1223-449395
    neil.gazeley@ge.com