Accenture, Siemens Form Smart Grid Tech Services JV; Jan Mrosik, Jack Azagury Comment

Accenture and Siemens have created a joint venture that will offer information technology products and services to customers in the energy sector for smart grid projects.

Omnetric Group aims to integrate technologies for utilities to manage power distribution, smart metering infrastructure and energy consumption, Accenture said Tuesday.

“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,” said Jack Azagury, Accenture global managing director of the smart grid services business.

Jan Mrosik, CEO of Siemens’ smart grid division, said the venture will also work to help the energy industry explore new business models and execute a transparent process for energy usage.

Accenture and Siemens will combine their data management, systems integration, consulting and managed service offerings into the venture.

The Munich, Germany-based venture will begin operations in the U.S. and Europe once it secures regulatory approval.