Vector Group and Siemens (N.Z.) announced today they have concluded a 50:50 joint venture to deliver advanced metering technology and operational services to customers throughout New Zealand.

Vector’s Acting Chief Executive Officer Simon Mackenzie said the joint venture incorporates Vector’s metering business, NGC Metering, and the global capabilities of Siemens, particularly its metering services operation in the United Kingdom.

The joint venture further strengthens the relationship between Vector and Siemens, which 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.

“The joint venture represents a unique synergy of smart metering experience, combining Siemens’ worldwide technical and operational expertise with Vector’s local market experience, understanding and presence,” said Mr Mackenzie.

“As an independent operator, it is strongly positioned to achieve growth in New Zealand and overseas, and to extend smart metering solutions to other utility services, such as water.”

Siemens (N.Z.) Managing Director, Gottfried Pausch, said New Zealand, with its deregulated energy market and the recent introduction of a new energy policy, is an early adopter of innovative energy solutions.

“This technology will take metering to the next level and allow end users to more effectively monitor and manage their energy consumption,” said Mr Pausch.

As part of the New Zealand Government’s ambitious plan to fight climate change, the country’s electricity sector is to become carbon neutral by 2025 with 90 percent of electricity supply to originate from renewable energy sources. Smart metering is recognised by the Government as an important element in managing electricity demand and facilitating load control.

The smart metering initiative further complements Siemens’ portfolio of carbon emission reducing solutions, including its recent order to supply wind turbines for New Zealand’s largest wind farm.

Background Information

NGC Metering

NGC Metering is New Zealand’s largest independent provider of energy information and control services to energy retailers. It owns and manages electricity and gas meters and load control relays at over 800,000 homes and businesses throughout New Zealand, and provides data management services to over 10,000 customers in New Zealand and Australia. NGC Metering has approximately 60 staff based in Wellington and Christchurch.

About Siemens
Siemens commenced operations in New Zealand in 1876 and is now one of the country's most reliable and trusted brands. With well-established businesses in both Australia and New Zealand, Siemens is a diversified technology based solutions provider specialising in the areas of energy, water, healthcare, mobility, productivity, safety, security and the environment. At the end of fiscal 2006 (September 2006), Siemens achieved NZD 2.5 billion in sales with 3,460 employees. Siemens in Australia and New Zealand is part of the Siemens global network of innovation which operates in 190 countries throughout the world.