Siemens and Accenture form power grid joint venture Omnetric Group

15 Oct 2013

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Management consulting, technology services and outsourcing company Accenture and engineering and electronics conglomerate Siemens are forming a joint venture called Omnetric Group that will work with utility companies to improve energy efficiency, grid operations and reliability.

Omnetric Group will aim to provide the energy industry with 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.

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, Mrosik added.

This includes demand response, to manage consumption; virtual power plants, to enable new profitable business models; and meter data management, to enable usage transparency for consumers.

Jack Azagury, global managing director for Accenture Smart Grid Services, said utilities are seeking ways to increase capital effectiveness and cut their operating costs 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 realise the benefits of this IT and OT ‘convergence,’ which is a critical step toward managing an increasingly complex and data-driven utility.”

Omnetric Group will be headquartered in Munich, Germany, employing 100 people in its first year.

The company will initially operate in Europe and the United States, with further global expansion planned in the future.

Financial details of the agreement are not being disclosed.

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Tina held senior editorial positions at daily newspapers in Ottawa and Toronto

editorial@siliconrepublic.com