Smarter power meters form Vector and Siemens

Electricity lines company Vector has entered a joint venture with Siemens to offer Vector customers smarter electricity meters. The venture combines Vector's metering business, NGC Metering, and Siemen's metering expertise.

Vector will own the metering assets and the joint venture will offer bundled value-added services ranging from meter provision to collecting and managing energy consumption data.

Vector's acting chief executive Simon Mackenzie said the company was "strongly positioned" to extend smart metering solutions to other utility services such as water. Siemens said the technology would allow users to monitor and manage their energy use more effectively.