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CAMPUT

CAMPUT. Mark Little May 3rd, 2005. GE Energy. The GE Portfolio …. GE Transportation. GE Healthcare. GE Advanced Materials. GE Infrastructure. GE Commercial Finance. GE Insurance Solutions. GE Consumer Finance. NBC Universal. GE Consumer & Industrial. GE Equipment Services.

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CAMPUT

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  1. CAMPUT Mark Little May 3rd, 2005

  2. GE Energy The GE Portfolio … • GE Transportation • GE Healthcare • GE Advanced Materials • GE Infrastructure GE Commercial Finance • GE Insurance Solutions GE Consumer Finance NBC Universal GE Consumer & Industrial GE Equipment Services

  3. 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

  4. Power Generation Services O&G Aero Nuclear Gas / Steam Wind Hydro GE Energy … Broad Range of Technologies

  5. 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

  6. Need for More Energy, More Choices, More Flexibility Cleaner … more efficient … more affordable

  7. Power Generation Technology Objectives Delivery Fuels Conversion Gas Oil Coal Nuclear Geothermal Biomass Hydro Wind Solar Emissions Reliability Efficiency Affordable, reliable & environmentally responsible Cost of electricity (COE)

  8. … Multiple Conversion Platforms Essential Canada (560 TWh) Russia Denmark Hydro Gas France / Germany Coal Coal Japan US China Nuclear Coal Coal Brazil Coal Gas Nuclear Hydro Solar / Wind Australia Hydro Coal Source: IEA Electricity Information

  9. 70% Turbine Technology Choices of the Future … Allow Tradeoffs Hydro Project Fossil Project Wind Project Turbine& BOP 40% Cost Fuel 74% Civil Work Seasonal & limited FuelAvailability Intermittent Limited Limited High Fuel Mkt based Price Predictability High High

  10. World Power Generation Market Orders 2005 Wind & Other2% Nuclear3% GW Hydro12% Coal26% Gas53% Wind + Other Petroleum4% 2015 Wind 3% Gas Other2% Nuclear3% Hydro13% Coal Coal41% Gas35% Order year Petroleum3% Source: EPM S1 Forecast

  11. Traditional (Wood, etc.) Coal Wind, PV, otherrenewables Oil Gas Hydro Nuclear Alternatives Becoming a Significant Contributor … and Growing 80% • Renewable Targets • W. Europe 10% by 2010 20% by 2020 • US … 17 states NY 25% by 2013 California 20% by 2017 • China … 26 GW by 2020 60% % of Primary Energy 40% 20% 0% 1850 1875 1900 1925 1950 1975 2000 2025 2050 Source: Shell Global Scenarios

  12. What’s Next? Real Time: 2005 – 2008 Prime Time: 2009 – 2011 In Time: 2012 – 2015

  13. Next “WOW” Hybrids Photovoltaic Ideas Fuel cell $$ Pure research Niche applications 20 ¢ ¢ per kWhr 15 ¢ Biomass 10 ¢ Wind 5 ¢ Gas CC, Coal, Nuclear, Hydro 0 ¢ 1980 1990 2000 2010 Technology is Critical … Requires Long Term Support OEM Look for … In-Time Prime-Time Real –Time

  14. 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

  15. 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

  16. What’s Next … In Time at GE ($MM) • 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

  17. Utilizing GE Technology Availability 96 % Pitch Control Gearbox & Drivetrain GE Energy & GE GRC GE Transportation 88 % ‘02 ‘04 Blades Power Electronics GE Advanced Materials & GE Transportation GE Energy Wind…Technology Synergies Drive Improvement CoE(¢/kWh) Size (MW) Cost of Electricity 12 Size(MW) 8 8 4 4 0 0 ‘85 ‘90 ‘95 ‘00 ‘05 ‘10

  18. Canada: Wind & Hydro Complement Each Other While Hydro inflow is low … Wind blows during peak hrs

  19. Jenbacher … Applications • Non-Natural Gas • Biomass…another renewable energy source • Capturing/using gas that would otherwise be vented or flared Biogas • Natural Gas, Low-Emissions • Industrial cogeneration & trigeneration • Municipal CHP (district heating) • Greenhouse … CHP + CO2 injection Sewage Gas

  20. IGCC… Cleaner Coal Power GE now offering single point IGCC solution Electricity Steam Syngas Gasifier Sulfur Removal Marketable Byproducts: Solid feed – Slag Gas/Liquid feed - Ash Marketable Byproducts: Sulfur Combined Cycle Power Block Driving Cost of Energy towards parity with pulverized coal

  21. Solar … Photovoltaic Technology Roadmap Future ‘06-’07 ‘04-’05 Industry Leadership COE 10 ¢/kWh Introduce Game-changer Building-integrated PV Module COE 18 ¢/kWh Improve What We Acquired COE 30 ¢/kWh

  22. There is No Crystal-ball to Predict the Future … But as Power Suppliers We Know • 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

  23. Thank You! Mark Little May 3rd, 2005

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