April 17, 2014 – Siemens Smart Grid and Accenture say they have completed the formation of a joint venture company called Omnetric Group.

According to the partners, Omnetric Group will bring together Siemens’ smart grid products and solutions and Accenture’s management and technology consulting, systems integration and managed services capabilities. It will provide utilities with advanced smart grid solutions and services focused on data management and systems integration to improve energy efficiency, grid operations and reliability, they add.

“By applying a system integration framework, the partners say these solutions will integrate operational technologies (OT)—such as distribution management and real-time grid operations—with IT systems, such as meter data management to support smart metering, demand response to manage energy consumption and virtual power plants to enable load management,” said Siemens.

Maikel van Verseveld, formerly managing director of Accenture Smart Grid Services in Europe, Africa and Latin America, has been named CEO.