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Accenture And Siemens Form Joint Venture To Unlock Full Benefits Of Smart Grids To Improve Energy Efficiency, Grid Operations And Reliability

Stocks in this article: ACN

Accenture (NYSE:ACN) and Siemens have entered into an agreement to form a joint venture in the smart grid field that will work with utilities to improve energy efficiency, grid operations and reliability.

The new company, named Omnetric Group, will provide the energy industry with advanced solutions and services focused on data management and systems integration. These solutions will integrate operational technologies – such as distribution management and real-time grid operations – with IT systems supporting smart metering, energy consumption and work and asset management.

“Combining the strengths of Siemens and Accenture will enable Omnetric Group to deliver the highest level of expertise and execution to a rapidly evolving global utility market,” said Jan Mrosik, CEO of Siemens’ Smart Grid Division.

Omnetric Group will bring together Siemens’ products and solutions; Accenture’s management and technology consulting, systems integration and managed-services capabilities. The companies’ IT and operational technology solutions and extensive experience in the energy industry will help address a range of challenges faced by energy utilities around the world.

“With an integrated approach incorporating operational and information technologies, utilities can improve overall grid reliability and bridge the gap to real-time grid control by integrating and implementing new and previously isolated grid applications. This includes demand response, to actively manage consumption; virtual power plants, to enable new profitable business models; and meter data management, to enable usage transparency for consumers,” Mrosik said. “We believe that no company will be able to help manage this integration better than Omnetric Group, which will draw from the very best industry know-how and IT experience.”

Jack Azagury, global managing director for Accenture Smart Grid Services, said, “Utilities are seeking ways to increase capital effectiveness and reduce their costs of operations while integrating new technologies such as distributed renewable generation and electric vehicles into their electricity networks. Doing so requires an enterprise view of systems and data through the integration of traditional IT solutions with the operational solutions required to manage the grid. Omnetric Group will be uniquely positioned to help utilities realize the benefits of this IT and OT ‘convergence,’ which is a critical step toward managing an increasingly complex and data-driven utility.”

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