Electricity network operator Vector Group and technology-based solutions provider Siemens have formed a joint venture to deliver advanced metering technology and operational services to customers throughout New Zealand.

The joint venture further strengthens the relationship between Vector and Siemens that already sees Siemens providing electricity and gas network asset services in Auckland and Wellington.

Under the new arrangement, metering assets will be owned by Vector, with the joint venture offering bundled value-added services tailored to market and customer needs. They extend from providing meter assets to the ongoing collection, processing and management of energy consumption data.

Simon Mackenzie, Vector’s acting CEO, said: The joint venture incorporates Vector’s metering business, NGC Metering, and the global capabilities of Siemens, particularly its metering services operation in the UK. The joint venture represents a unique synergy of smart metering experience, combining Siemens’s worldwide technical and operational expertise with Vector’s local market experience, understanding and presence.