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

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news