Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Metrix partnership with Trustpower supports growth plans

Metrix partnership with Trustpower supports growth plans

Metrix has today confirmed that it has completed commercial negotiations with Trustpower for a long-term service contract, including the deployment of smart meters to Trustpower’s 225,000 residential customers, starting during 2015.

Metrix Chief Executive, Matthew Olde, said the partnership with Trustpower confirms Metrix as a leader in electricity metering services, an area offering significant growth opportunities and providing innovative solutions for both retailers and customers.

Mr Olde said the partnership with Trustpower reflects progress in Metrix’s growth plans in partnering with electricity retailers to provide them with enhanced information solutions.

“Metrix is an established leader in this exciting space, where retailers are increasingly seeking to provide greater visibility of their customers’ electricity use, and to offer services made possible with smart meters, such as online electricity monitoring tools.

“More than 50% of New Zealand’s homes and businesses now have smart meters, and Metrix’s partnership with Trustpower and other retailers means an additional 13% of the market will receive smart meters provided by Metrix.”

The partnership will involve capital expenditure of $100 million from Mighty River Power over a three year period, with $20- $25 million in FY15, ramping up to $40 million in FY16, with revenues growing progressively through the deployment. This level of investment in the growth of Metrix is more than double the previous annual rate, Mr Olde said.

Over the past five years Metrix has built its AMI smart metering business to more than 340,000 installations through capital investment of more than $100 million, making it New Zealand’s second-largest provider of electricity metering services, providing services to 14 different companies. The partnership with Trustpower, and other committed AMI deployment contracts, will increase Metrix’s installations to almost 600,000 nationally by the end of 2017.

Mr Olde said Metrix is looking forward to building a long-term relationship with Trustpower, and the first step as part of that is to work closely with Trustpower to establish robust end-to-end processes, systems and integration to support Metrix’s service offering and Trustpower’s customer offering.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Scoop Business: NZ Economy Grows 0.8% In Fourth Quarter

The New Zealand economy expanded in the fourth quarter as tourists drove growth in retailing and accommodation, and property sales increased demand for real estate services. More>>

ALSO:

Scoop Business: RBNZ’s Wheeler Keeps OCR On Hold, No Rate Hikes Ahead

The Reserve Bank has removed the prospect of future interest rate hikes from its forecast horizon as a strong kiwi dollar and cheap oil hold down inflation, and the central bank ponders whether to lower its assessment of where “neutral” interest rates should be. The kiwi dollar gained. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news