Evaluation of Key Performance Factors and Recommendation of Optimization Strategies of a Power Generation Company

This paper presents the analysis of key performance indicators and some effective improvement strategies of four gas turbine generators (GTG) of Nigeria's power plant company for four years (2019-2022). The investigation used the NERC/IEEE Standard 762 (2006) generator performance indices amongst other calculated key performance indices to evaluate the collected data. The research methodology was done through the collection of data using questionnaires, operational records, and plant data sheets recorded by operators in the power station and data analysis using Excel software, and then constructive optimization techniques were recommended for each key performance factor. From the result obtained, the operational performance shows an average energy generation of approximately 389.71 GWh. The equipment availability factor averaged 54.08%, indicating moderate reliability. The energy availability factor was notably lower, averaging 11.99%, suggesting significant room for improvement. The capacity factor averaged 9.39%, while the plant use factor was relatively high at 80.59%, demonstrating efficient operational usage. The load factor was low, with an average of 0.10, pointing to potential underutilization of capacity. The shortfall in performance levels is attributed to less plant availability due to overdue overhauling of some units resulting in frequent breakdowns/failures, obsolete technology, aging plant equipment, instability of the national grid system, and disruption in gas supply among others. The recommended strategic techniques are designed to address the specific challenges associated with each factor, thereby enhancing the overall operational performance of the power plant and other power generation companies for maximum productivity.