Vector Signs Advanced Metering Services Agreement With Genesis Energy

New Zealand-based energy infrastructure group, Vector, has signed a contract with electricity utility Genesis Energy for the roll out of advanced metering services to 500,000 homes and businesses.

The new technology will enable Genesis Energy to provide significant benefits for its customers by removing the need for estimated bills and the need for physical meter reading, in particular those meters that require internal access to houses and commercial properties. Customers with advanced meters can expect to receive a bill based on actual usage every month.

Genesis Energy has signed a contract with Vector’s NGC Metering, to provide advanced metering services to its customers. The new meters will be owned by NGC Metering; with services provided by Advanced Metering Services, a joint venture between Vector and Siemens. There will be no additional cost to Genesis Energy customers.

Murray Jackson, Genesis Energy’s CEO, said the company’s recent multi-million dollar investment in back-office technology has given it the ability to take immediate advantage of new advanced metering technology.

Mr Jackson said: “Not only are advanced meters less intrusive, in time they will give customers the ability to see their daily consumption in graphical formats. They will begin to get a much better understanding of how much energy they are consuming and when they are consuming it.”