Siemens and Accenture partner on smart grid data management

Siemens said it is teaming up with management consulting firm Accenture to advance the use of information technology in the electrical grid. The companies have formed a joint venture under the name Omnetric Group to provide the energy industry with advanced solutions and services focused on data management and systems integration. The solutions offered by Omnetric 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.

“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,” said Jan Mrosik, CEO of Siemens' Smart Grid division. "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."

Omnetric Group will begin operations pending regulatory approval and other customary closing conditions. Terms of the deal were not disclosed. The company, which expects to employ about 100 people in the first year, will be headquartered in Munich, Germany, and will operate initially in Europe and the United States. 

Here's the press release, via Motley Fool: Accenture and Siemens Form Joint Venture to Unlock Full Benefits of Smart Grids...